Peter Maskell Auctions - Property Investors Dream: Aloe Ridge Prime Residential Investment Opportunity Of 952 Residential Units - Sold As Going Concern Sale
Duly instructed by the Joint Liquidators of Capital City Housing NPC (In Liquidation) Master’s Ref. No.: N000038/2022
Pietermaritzburg Property Auction - Aloe Ridge
240 WHITE ROAD, WESTGATE, PIETERMARITZBURG
Peter Maskell Auctioneers presents Aloe Ridge, a substantial established residential development comprising 952 residential units across Villages 1 and 2.
The property will be offered by Timed Online Public Auction, with bidding opening on 6 November 2026 at 10h00 and closing from 10h00 on 9 November 2026.
PROPERTY OVERVIEW
Aloe Ridge is a large-scale affordable residential development situated at Westgate, Pietermaritzburg.
The development comprises:
- 952 residential units
- Villages 1 and 2
- Established residential rental accommodation
- Internal access and circulation infrastructure
- Parking and communal areas
- Existing income-producing rental enterprise
The sale includes the entire property, including the nine blocks containing 266 units occupied by the MK Vets. The occupation and associated legal, operational and occupier matters will be disclosed in the applicable Conditions of Sale and bidder information.
INVESTMENT HIGHLIGHTS
- 952 residential units
- Large-scale recurring rental-income platform
- Established residential use
- Existing operating infrastructure
- Significant unit scale
- Potential for professional income and asset-management optimisation
- Entire property included in the sale
- Pietermaritzburg residential investment opportunity
METHOD OF SALE
Aloe Ridge will be offered under two mutually alternative sale scenarios:
- Social-Housing-Restricted Scenario
Governed by the separate Social-Housing Conditions of Sale and subject to the existing social-housing framework, title conditions and all applicable consents. (The sale includes the entire property.)
OR - Unrestricted Scenario
Governed by the separate Non-Social-Housing Conditions of Sale and subject to all approvals, consents, releases or variations required to remove or vary the existing social-housing restrictions. (The sale includes the entire property.)
Only one of the two alternative sale scenarios may ultimately be accepted and implemented.
Register and bid: bidlive.maskell.co.za
For more info contact Danielle 033-397-1190 or email reception@maskell.co.za
PETER MASKELL AUCTIONS CC NEDBANK
Account number : 1343096103
Branch : 198765
Reference : your name #CAPITALHOUSING
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