Eco Junction Business Park in Richards Bay recently sold within an hour of going on auction via Aucor Property.

Mandated by Liberty Group Limited, the property includes an established showroom that currently brings in a gross income of approximately R7 million with a lease in place until May 2028.

In addition to Eco Junction Business Park, 24 individual stands ranging in size from 4 000m² to 13 000m² were also auctioned and the option to bid on the property in its entirety or as individual lots, provided the opportunity for varied buyers to participate.

“We are happy with the auction process as well as the prices achieved and the overall result,” commented Gareth Rees, Asset Manager at Liberty Two Degrees.

Aucor Property’s national footprint continues to expand as confidence in auctions as a speedy and trusted way to dispose of commercial assets grows. Over the past year, Aucor Property has seen a marked growth in KwaZulu-Natal with large retail complexes, a warehouse facility, and a coal mine having been successfully sold on auction.

Corporates looking to dispose of properties in their portfolio are also buying into the prospect, with the likes of SAB, Sanlam, Clover and RCL being among those who have entrusted Aucor Property with their property disposals.

Success at auction also rests on the quality of the offering. When the stock on any given day is superior, an experienced and seasoned team ensure the right buyers are in attendance.