Phoenix Roller Mills in Dundas Street, which was for sale at a public auction yesterday, did not reach its reserve price and was not sold.
Phoenix Roller Mills in Dundas Street, which was for sale at a public auction yesterday, did not reach its reserve price and was not sold.
The prime property was put on the block in front of a good turnout of prospective buyers by Dave Mullins in association with Remax Frontier properties.
Despite this good turnout, few participated in the bidding. The reserve price for the commercial land, which measures approximately 2 740m2 was R4.5-million, but the top bid was only for R2.5 million.
In addition to the property, the roller mills that gave the business its name were also auctioned. Bidding started off at R40 000, but Wilfred Mole from Sandstone Estates in the eastern Free State bought the historical machinery for R55 000.
“People’s perceptions of the value of something is always different, so it is quite hard to value this mill. The beauty is in its assembled form, so I think I got a very fair price,” he said.
Mole’s purchase includes all of the mill’s accessories. He will not be able to remove it from the property until it is paid for.
Owner of Phoenix Roller Mills, Brian Bonsor decided to sell the buildings and equipment because he felt they were no longer suitable for his business.
Mullins contacted ER & F Turner, the leading manufacturers of flaking and roller mills since 1837, who are still operating in England today to find out more about the antique equipment.
The manufacturers estimated that this particular roller mill was built in the early 1880s. Mullins was happy with the number of people in attendance. “It is not often that a historical CBD property is for sale, so we are all very privileged to be here today.”
