Some uncertainty and lowering of morale are evident in the commercial property sector, but the bigger the challenge, the bigger the opportunity for growth, says Norman Raad, chief executive Broll Auctions and Sales.
“This has certainly been the case for Broll. We have experienced no shortage of stock.
“With more than 70 properties on auction in the past two months, and another 30 lined up for our July 4 auction in Joburg, it feels good to be an auctioneer as well as a property investor.”
Raad says there has been “massive interest” in fuel stations around the country as well as properties in the Joburg and Durban CBDs.
The residential component of one of the finest examples of Art Deco architecture, the historic high-rise building at 396 Dr Pixley Kesame Street, known as Pixley House, is to be auctioned by Broll next month.
“Well-located and realistically-priced residential units are superb investments with demand still exceeding supply. Small retail centres are also still able to generate attractive yields,” Raad says.
For full details of Broll’s July 4 sale at the Wanderers Club at noon, see www.brollauctions.com, email [email protected] or call 0877008289 to pre-register as a buyer.