With just less than a week to go until the first City of Cape Town virtual land auction of 2021, well over 100 residents of the Mother City have already been pre-registered and FICA approved to bid for approximately 60 lots that will go under the hammer on the last day of June.
That is according to High Street Auctions Director and Lead Auctioneer Joff van Reenen, who says more than 90% of all pre-registrations accepted so far for the inaugural 2021 City of Cape Town non-core fixed asset auction have come from residents of the city itself.
“Public interest in this sale is on a scale that’s absolutely unprecedented in High Street Auctions’ history. “In more than a decade of conducting property auctions in South Africa, never has a social media campaign for a single sale drawn more than a million views.
“We topped that figure earlier this week and there’s no indication of a waning of interest. On the contrary; as the sale date draws nearer our phones are ringing off the hook and our online registrations are flying in.
“Capetonians are extremely excited about this sale and the chance to bid on and own property that has never been on the market before.
“We expected a lot of interest in this auction because it’s a large sale by volume and the property we’re selling on behalf of the City of Cape Town is so varied in location as well as usage. The plots span the range of residential, commercial and industrial zoning.”
Van Reenen says from a commercial perspective, most buyers are focused on Century City, the development sites released in Cape Town’s northern suburbs, and the various industrial sites in Atlantis.
“The City is releasing nine industrial land parcels in Atlantis. These development sites vary in size to suit business ventures big and small.”
Van Reenen says the commercial lot drawing the most national interest from corporates, though, is one of the last and largest office development sites within the Century City lifestyle precinct.
“The 2.5ha site could not be in a better location fronting the N1 with impressive signage opportunities and given the ‘new normal’ pandemic conditions there is no better place in Cape Town for a corporate to be considering building new offices.
“The precinct offers the ultimate in live, work, shop, and play for families of those who work in the numerous national and international companies headquartered within Century City.
“There are thousands of homes already built in the precinct with both rental and purchase opportunities galore, preschools, a primary school, and a high school, a massive shopping mall representing all the national and international retail chains, a nature reserve, sports facilities, and entertainment facilities – all within secure walking distance of the office.
“High Street Auctions is expecting a bidding war on the Century City lot because we won’t see another site like this come to the market again.”
Van Reenen says South Africans keen to relocate to the Mother City should also be looking at the residential sites on auction on June 30.
“We will be selling plots across the city, with registered bidders so far showing a lot of interest in Cape Town’s northern suburbs.
“Purchasing land rather than existing residences means buyers can design and build their dream houses down to the last door handle, rather than moving into homes that were designed to other people’s specifications.
“It’s also an opportunity to get a foot on the property ladder in an area of the country that has traditionally been more expensive than most, buying at auction which is the most transparent and fairest method of measuring the market on the day.
Van Reenen says the auction will be conducted virtually and live-streamed on High Street Auctions’ website and on the app from noon on Wednesday, June 30. Bids will be accepted via telephone, Zoom, Microsoft Teams, Google Meet, and the High Street app, which is free to download from Google Play and IOS.
“On the day of the sale, all our staff will be on hand to help buyers place their bids and ensure that all bids are registered with me on the podium.
“All the properties for sale can also be viewed online now at www.highstreetauctions.com and each property has a designated sales associate whose cellphone number is listed with the property to assist members of the public with any questions they may have regarding FICA registration, property details or even the auction process itself.
“The interest in this sale, measured both in views of the online campaign and in the number of registrations, is unprecedented in the history of High Street Auctions.
“We couldn’t be more delighted with the extent to which Capetonians have embraced the City of Cape Town’s virtual auction project and there’s no doubt we’re heading for a hugely successful auction on Wednesday, June 30.”