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Exceptional results at online auction

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BidX1 South Africa has reported “exceptional” response to, and results achieved at, its second online auction on July 3.

BidX1 South Africa has reported “exceptional” response to, and results achieved at, its second online auction on July 3.

MC du Toit, BidX1 chief executive for auctions and sales, says: “The response to our auction was exceptional, with the 203 bids placed achieving the sale of 44% of the 50 properties in the catalogue in just a couple of hours. This is far above the auction industry average, which is now probably in the region of around 20 to 25%.

“The results of our July auction exceeded those of our first sale in April. All registered bidders took part and each lot had a different buyer.

“While the buyers in last month’s auction were South Africa-based, we had a great deal of enquiries from purchasers and investors from other African countries who appear to be watching our auctions with interest before they participate.

“General interest in the catalogue of properties ran high prior to the auction, attracting 30000 page views.”

Star of the show was a Midrand property that came close to fetching R30million. The property, near The Mall of Africa , comprises a corporate HQ office and storage warehouse with a gross lettable area of about 4500m² with development potential for a further 2000m².

David Murphy, who is head of commercial property for BidX1 South Africa, says the price achieved for this property equates to R6608 per square metre, which is good value as the accommodation can easily be converted to suit a wide variety of businesses, including offices, distribution or technical education, as it is inside an educational hub.

For more details about BidX1’s next auction on September 11, see https://bidx1.com/en/news/buying-property-south-africa-bidx1s-digital-platform or email info@za.bidx1.com.

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