Bargains under hammer
Investors and owner-occupiers are still intently interested in selected segments of the auction property market notwithstanding tough business conditions, says Park Village Auctions.
"Judging by trends at our recent auctions, buyers are particularly keen on residential properties or those that lend themselves to conversion in this respect, while in the office space markets, the emphasis is on returns of at least 12 to 13percent from rental streams from a solid tenant mix with medium- to long-term leases in place," says Lawrence Wulfsohn of Park Village Auctions.
Similarly, he adds, retail space has to have a good catchment area with strong leases in place.
Industrial land, on the other hand, is quiet right now.
Wulfsohn makes the comments against the background of the upcoming Park Village property auction on Tuesday, November 25, at the Wanderers Club, commencing at noon when 13 selected properties will come under the hammer.
For further information go to www.pvaproperty.co.za or telephone 011-440-6797.