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KAROO PROPERTY MARKET ‘SET TO EXPLODE’ FOLLOWING SHELL ANNOUNCEMENT

 

The petrol company and its investment arm, BidBank, said that no physical exploration was anticipated until late 2012 and that there would be no exploratory “fracking” before early 2013, he says.

 

“Fracking is an industry term for hydraulic fracturing, which involves pumping water, mixed with sand and fracking fluid, or chemical additives, into the well in a bid to liberate natural gas trapped in the shale rocks,” De Villiers explains. “The high-pressure process has been widely used in North America, with some 90 percent of the more than 493 000 active natural-gas wells in the US reportedly employing the technique.”

 

Following the initial period up to 2013, it is believed that Shell would then consider its investment options, which could involve multibillion-rand investments into production and logistical systems, De Villiers says. “Shell has indicated that the gas could be used to supplement depleting resources at PetroSA’s gas-to-liquids facility at Mossel Bay, as well as for power generation.”

 

The exploration phase could entail the drilling of a maximum of 24 wells over the three properties, and it is estimated that each well would cost around $15-million to develop, De Villiers comments.

 

He adds that astute investors in property will now be targeting properties in areas such as Graaff Reinet. “With this in mind, the Julius Buchinsky Group has secured prime auction stock for such investors.”

 

On Friday, 6 May, at 11.30am the group will auction a semi-completed residential development in the heart of Graaff Reinet, he says. “With plans registered and approved, the 5 000m² development will comprise 19 two- and three-bedroom units, complete with services and landscaping,” he says. “Seven of the units have already been constructed.”

 

He adds that the development could also be used as a retirement complex, or that the new owner could later sell off the units individually at a profit.

 

A nine-bedroom guesthouse, which belongs to the same Belgium consortium and is currently profitably run, will also be auctioned on the same day.

 

All the information on the two property lots is available on the Julius Buchinsky Group website www.juliusbuchinsky.com

 

 

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Recent News

JULIUS BUCHINSKY GROUP LAUNCHES FUNDRAISING AND CHARITY AUCTION DIVISION


The Julius Buchinsky Group launched its dedicated Fundraising and Charity Auction Division, Ayoba, at a glitzy “Oscar Night” fundraising event recently held in aid of 7 year old cancer patient, Emma Fourie.
The auction catalogue was made up of 20 lots of sports memorabilia, wine and rare collector’s items, which were all sold at record prices.

 

KAROO PROPERTY MARKET ‘SET TO EXPLODE’ FOLLOWING SHELL ANNOUNCEMENT

 

According to recent reports in the media, Shell South Africa will spend $200 million on gas exploration projects in the Karoo, with towns such as Graaff Reinet earmarked to benefit tremendously as a catchment and investment hub for the region, says Leno de Villiers, chief executive officer of the Julius Buchinsky Auction Group.

 

Auction Sale of 2011

Sold for R 9,000,000

2 Sunbird Drive, Myburgh Park, Langebaan * 3 Storey Villa situated opposite The Farmhouse Hotel * 5 Bedrooms tastefully decorated, all with en-suites * Movie room, music room with recording studio * Spa and treatment room, playroom with bar, barbeque areas * Indoor pool and gym * Picturistic views of tranquil Langebaan lagoon * Guests have access to parking bays at the Sea Major Villa and The Farmhouse Hotel.