Block of Flats for auction in Kwaguqa, Witbank

Income generating 10-unit apartment block with expansion potential.

Going on Auction: Wednesday 27 August 2025
Reserve Price: R4 500 000.00 (All offers will be reviewed)
Non-refundable 10% commission plus VAT over and above the purchase price to Rawson Auctions on fall of the hammer (Payable by the buyer)

This investment opportunity features a fully tenanted apartment complex comprising ten modern one-bedroom units. Each apartment is designed with open-plan living areas and fully tiled interiors, offering a clean, low-maintenance lifestyle ideal for long-term tenants. Prepaid electricity meters in each unit simplify utility management, while the secure and functional layout enhances tenant satisfaction, contributing to consistent rental returns. Additionally, the property includes a second apartment block with approved building plans for ten more units, currently pending final municipal sign-off. This presents a valuable opportunity for expansion and increased rental income.

Rawson Auctions (Southern Region) are obligated by law to market the property at the Reserve Price as listed herein. A “Reserve Price” is a minimum Rand amount the Seller will accept as the winning bid, and is not necessarily the property’s market value, nor the amount the property is likely to be sold for on the day of the auction. The Seller reserves the right to consider all offers.