Building collapse property fetches R2,85m - liquidators have 14 days to accept bid

Update

GEORGE NEWS - The highest bid received for 75 Victoria Street, the site of the building collapse, was R2.85m. The property was under the hammer in a 24-hour auction that ended at 12:00 yesterday (Wednesday 26 November).

The owner and developer of the property, New Victoria Developments, is under liquidation. According to the auctioneer, Martin Pretorius, owner of Van's Auctioneers, a 14-day period follows now during which the liquidators have to decide on whether to accept the bid or not.

If the bid is not approved, a buyer will be sought at the price that the liquidators want. Pretorius said the property has been valued at R6m. There were four interested buyers.

The nearly completed five-storey apartment block imploded on 6 May 2024, killing 34 of 62 workers who were on-site.

Last week, the survivors and families of the deceased handed over a memorandum to the Portfolio Committee on Public Works and Infrastructure during a hearing in Thembalethu. In the memorandum, they appealed to the George Municipality “to use its leverage to pressurise the developer” to transform the property into a memorial park.

In a media statement on Tuesday, George’s Cllr Chantelle Kyd of the Good party called for the auction to be suspended and the immediate expropriation of the property for this purpose. She also accused the municipality of delaying building control safety reviews, being “more concerned with protecting itself than with protecting the public”.

The property was advertised on the auctioneer’s web site as a “great development opportunity for residential flats within the CBD and walking distance for public transport”, with approved plans for four floors containing 42 flats and a basement parking.

George Municipality recently said the plans are no longer valid and a resubmission and formal reapproval by the municipality would be required for any future building works.

Police investigation
In a media statement by the Western Cape Premier, Alan Winde, yesterday, it was reported that the provincial Cabinet had received an update on the police’s criminal investigation into the incident. It is anticipated that the probe will be concluded by the end of November. A case docket will then be submitted to the National Prosecuting Authority (NPA). The Western Cape’s police commissioner, Lieutenant General Thembisile Patekile, had given the assurance that the matter was being prioritised.

Winde said: “There must be consequences. There were catastrophic failures, and those responsible for this tragedy must be held accountable and face the consequences of their actions.”

Last week during a meeting with the survivors and families in George, Carol Phiri, chairperson of the Public Works Portfolio Committee, confirmed that the Department of Employment and Labour had handed over its investigation report to the NPA on Tuesday 18 November.

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