In2assets Blog: Commercial property auction news

In2assets hosted its first “Live Studio Online Auction” of property last Tuesday with “phenomenal results”, according to the company’s Managing Director, Hein Hattingh.

Strengthening of Commercial Rentals Despite the political and economic upheaval that the country has been experiencing over the past year or so, commercial rentals have strengthened. In 2019, we saw many commercial renters who had originally planned to vacate their premises at the end of their lease period, decide to stay put rather than putting their liquidity at risk in the unfavorable economic climate. As a result, we saw purchases and sales decrease, but rentals increase. While businesses might delay buying property for a year or two, they will be negotiating hard for a good deal with their current landlords. With a high vacancy rate, landlords who fail to reach an agreement with their tenants are likely to lose them. As a commercial property owner, be open to negotiation if you have a good tenant that you want to keep. Unexpected Asset Availability Due to the economic and political instability of the last few years, a number of commercial properties that would not normally be available, have come to the market. For investors that are looking for unique investment opportunities, this presents some excitement. For those investors who are flexible, well-informed and have the foresight to act quickly, taking advantage of the current climate will have some long-term benefits. Changing workspace dynamics Remote work and working from home continues to gain popularity, which not only affects the residential property market, but the commercial market too. With more people out of the office, there is a definite movement towards smaller office spaces, with large ones becoming more and more difficult to rent and sell. We are also seeing an increase in co-working environments and on-demand office space, as workers priorities a balanced lifestyle and convenience over prestigious office spaces. For investors looking to take advantage of this change, adapting their commercial property options to stay relevant will be key, presenting profitable opportunities for the future. Be sure to keep up with the commercial properties on auction in your area. You never know when the perfect property could come along! Take a look at our website or chat to one of our property auction experts for more assistance.

Large industrial property in Mobeni with exceptionally diverse potential for developers and end-users will be auctioned by In2assets on May 14 at 11am. The on site disposal of the property – currently under Business Rescue - will take place at 2096 South Coast Road and offers “a rare development opportunity”, according to Luke Hearn, who is handling the auction.

Last year economists predicted that the lending rate would rise- but in fact it fell. The current investors market for commercial and industrial property is in a very promising tendency comments Rainer Stenzhorn from In2assets, the well-known commercial and industrial property auction company. Should you be an investor or even an end-user and considering to buy a commercial or industrial property in South Africa, right now may be your ideal opportunity.

A massive retail building with street frontage to both Durban CBD’s two busy main streets is among the properties to be offered by In2Assets at its first multi-property auction at 11am on February 18 at the Durban Country Club.