The decision by the Reserve Bank Monetary Policy Committee to cut the repo rate by an expected 25-basis points is to be welcomed. Since September last year, the Monetary Policy Committee has remained cautious, keeping a strong hold on borrowings in light of ongoing geopolitical tensions and economic uncertainty.
Companies like The High Street Auction Co – better described as a structured sale specialist – have an invaluable role to play when disposing of an asset and restoring liquidity through business rescue.
It is in this spirit that Greg Dart has led High Street Auction Co to work closely with George Nell and Gideon Slabbert of the Corporate Business Advisory in what has up until now been referred to as ‘Project X’ – the now approved business rescue plan for The Success Academy which has a corporate portfolio with a replacement value in excess of R3 billion.
Director Lance Chalwin-Milton says that this premier event that will be hosted simultaneously over two days in Johannesburg and Cape Town also opens the way for global sellers and bidders to access new markets.
“We expect to have buyers from all over the world phoning in for a rare watch or classic car. The beauty and strength of our online bidding app is that it works seamlessly no matter who and where the auctioneer is. We are creating a global market, rather than just a market of the people sitting in the room or immediately around us in South Africa,” he says.
The private education sector is set to become a major player in the property market with Early Childhood Development (ECD) becoming one of the largest potential growth areas believes Greg Dart, director of The High Street Auction Co.
Dart’s assessment is based on the country’s demographic and the fact that youth account for over a third of the overall population. According to Statistics South Africa (Statssa), the number of children under five attending an Early Childhood Development (ECD) centre or pre-school has increased to one in three from one in ten since 2002.
With growing optimism in the ever-resilient industrial property space, a number of key properties that will come under the hammer at High Street Auction Co’s final property auction for the year on November 28, 2024, offer significant opportunities for proactive investors, says High Street Auction’s director Greg Dart.
With almost R900 million in stock, he says that the event will close out a turbulent 2024 in the property sector and usher in a more positive 2025.