Aerial Photograph of the prime site in Hurlingham

RELATED LINKS: Uniquely corporate: the JPC The major thrust of the Johannesburg Property Company's (JPC) 2003/04 business plan is to put in the necessary capacity and infrastructure to operate as a fully fledged and independent company. Read more About Region 3 The region falls within an area of relatively high environmental quality comprising commercial and high-income residential areas Read more

Permission to use web site material Publishers may use material from this site free of charge, as long as: Credit is given to either the "City of Johannesburg website (www.joburg.org.za)" or to "Johannesburg News Agency (www.joburg.org.za)"; If the article is used online, a link is provided to the original article on this website; The name of the article's author is acknowledged; The webmaster is informed of how and where the material is used (fill in this brief online form). Johannesburg News Agency is operated by BIG Media at 011-484-1400

Property auctions generate millions for the City August 12, 2003 By Jonews Reporter THE City auctioned off a prime site situated on Comartie Road in Hurlingham, near Sandton, for a whopping R23,9-million on Friday, double its reserve price of R10,3-million. The 29 000mē parcel of land was sold on the Intersite web site, by the Joburg Property Company (JPC), a council-owned company responsible for managing City property. Buyer Teddy Greaver, on behalf of Refihlile Consortium, is likely to use the land for the development of residential property. The land is zoned for the development of cluster houses. This was the fifth online auction of property owned by the City. Leila McKenna, Executive Director of JPC said the city had raised about R35-million from the previous four auctions. McKenna hailed the sale price as "excellent value for the City. We have definitely chosen the right route in auctioning via the website. No other method would have raised such high returns". McKenna said money generated by the sale could now be used "for infrastructure development in Joburg". Print this Page Send an online postcard E-mail this article to a friend Help using Joburg.org.za