Fantastic mixed-use property in Knysna sells for a buoyant R10.3 million

South Africa's leading asset sales and services company, the Alliance Group,
has just concluded the auction and sale of a highly sought-after commercial
development on the Garden Route. The property, located on 70 Main Road,
Knysna, is a unique blend of residential and business amenities with a
desirable central situation and close proximity to the lagoon.

This was a historic sale, as Brad Stephens from the Alliance Group's legal
division observes: "This auction was the first large commercial property
liquidation in the Garden Route in the last year, which brought back
memories of the Golden Years". The auction was preceded by a national
marketing campaign which attracted huge interest from across the country.

In a thrilling, packed auction held on-site on 7 May 2008, this 2382m2 site
was eagerly chased by four bidders who quickly raised its value from R8
million and climbed from there. It was finally knocked down at R10.3 million
to a developer. "The price achieved was a great result for the liquidators
and the creditors. It proves that a carefully planned marketing campaign and
expert asset advice leads directly to competitive bidding and top prices,"
notes Brad Stephens.

Stephens continues to say that: "The auction proved that even in a property
market that has softened, sought-after commercial development opportunities
remain in high demand and our auctions are able to achieve top prices".
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