Parts of Maboneng go under the hammer

About 20 properties in Maboneng have gone under the hammer.

It is reported that the auction affected 10% of Maboneng which itself is valued at R3 billion.

Azania Mosaka spoke to Rode & Associates property economist and valuer Erwin Rode about how to rejuvenate inner cities.

It is always difficult to resurrect a precinct like that. Your profit margins are small.

Erwin Rode, Property Economist And Valuer - Rode & Associates

The area around Maboneng, I would suggest, hasn't got a very purchasing power.

Erwin Rode, Property economist and valuer - Rode & Associates

Some of the properties that were actioned are Arts on Main; the Bioscope; 64-room hotel/apartment development Hallmark House; and parts of Drivelines’s residential container development.


This article first appeared on 702 : Parts of Maboneng go under the hammer


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