Monday, June 18

Two deceased estate flats in Durban CBD ‘great investments’

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Ian Wyles Auctioneers has been instructed to sell two apartments in central Durban as part of the company’s multi-property auction.

Ian Wyles Auctioneers has been instructed to sell two apartments in central Durban as part of the company’s multi-property auction on Thursday at 11am. The auction will be held the Durban Country Club.

Andrew Giddy, property manager at Ian Wyles Auctioneers, says: “These deceased estate properties present a great opportunity for an investor to grow his or her property portfolio, or an end-user to acquire units in well-managed blocks of flats with a sound reputation in the CBD.

“Both blocks are situated in Samora Machel Street, previously Aliwal Street, which is a very popular location.”

The two units on offer are:

* A 44m² flat in SS Saxony, on the 12th floor, with partial harbour and ocean views. “The unit was being renovated when the owner passed away so the flat is ready for a new owner to finish the renovations according to his or her personal requirements,” says Giddy.

* The 65m² property in Queens Court is on the second floor. The flat has a large bedroom with space for two double beds, and the present tenants have used the enclosed balcony as a second bedroom.

“The property is generally in good condition and features a large open-plan lounge/dining room area and separate family bathroom and enclosed kitchen. Being on the second floor, the new owners can use the lift or access the flat via the stairs.”

Picture: Supplied

Giddy says selling by auction is becoming an increasingly popular choice for owners who need to sell within a fixed time frame.

“Properties on the market for extended periods can become stale and overlooked by both buyers and agents alike.

“An auction lets prospective buyers decide what the property is worth, at any given point in time, and stimulates competitive bidding to maximise the selling price.”

All prospective bidders at an Ian Wyles property auction need to lodge a refundable deposit of R50000, with Fica documents as identification.

On the fall of the hammer, the auctioneer requires a 5% deposit, and the buyer needs to pay the balance of the purchase price within 30 days from confirmation of the sale.

For more details call Andrew Giddy on 0826019278 or 0315794403, email andrew@ianwyles.co.za to arrange a viewing, or see www.ianwyles.co.za

Sunday Tribune Auctions

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