South Africa’s economy is at a crucial crossroads with ongoing global trade pressures, a shrinking manufacturing sector, climbing unemployment and low business confidence impeding sustainable economic growth. Yet, there are pockets of excellence and the industrial property sector, for example, remains buoyant despite ongoing challenges says High Street Auction Company director, Greg Dart.
The South African Reserve Bank’s decision to pause interest rate cuts today did not come as a surprise for property expert Greg Dart, a director at the High Street Auction Company.
This week’s revelation that the Consumer Price Index (CPI) decreased by 0,1% between July and August, with four of thirteen categories in the inflation basket and household equipment and routine maintenance dipping, sparked some optimism about an interest rate cut.
Green shoots are sprouting in the KwaZulu-Natal property sector, a region that the High Street Auction Co is targeting for growth during the second half of 2025, says director, Greg Dart.
“We’ve got a huge pool of Gauteng investors looking to redeploy capital out of this region. While many local competitors in the auction space are reticulating existing money in the province, High Street has an investment pool that will inject new capital into the region.
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. This latest move will inject some positivity into the economy.
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.
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