Bank repossessed commercial properties
Having a commercial property repossessed is any business owner’s worst nightmare, but for buyers, distressed estates can be a great way to find a well priced property.
Having a commercial property repossessed is any business owner’s worst nightmare, but for buyers, distressed estates can be a great way to find a well priced property. Banks typically sell insolvent properties for less than open market value in order to cover their costs as quickly as possible. This presents some great opportunities for savvy investors looking to snap up a good deal.
In2assets are able to provide an advantage to the banking sector in providing a strong marketing approach to properties that are heading to auction for a quick sale.
“We don’t sit back and wait for prospective buyers to show interest in our commercial properties. We proactively market each and every property to the right buyers” explained Craig Brigg, National Marketing Manager for in2assets. “In this way, we actively drive interest to our commercial property portfolio, and facilitate the sale of properties by auction. It offers the bank a quick successful sale, and often provides buyers with a good deal”, said Mr Brigg.
In2assets will be holding their next auction of commercial and industrial property on the 28 February 2017 at the Durban Country Club where they will be assisting a financial institution with the disposal of this Colonial Office complex, located in Glenwood, Durban. This property of 921m2 is close to the St Augustine and Entabeni Hospitals, in this important medical node and having recently been the offices to a local firm of attorneys, it offers a savvy investor the opportunity to generate revenue from three separate tenants. Should you have any interest in this property in advance of the auction date, please feel free to contact in2assets or Hein Hattingh on 083 639 0558.