The Alliance Group will hold its biggest liquidation auction ever next month, it said on Monday.

"A staggering 611 residential properties will go under the gavel," CEO Rael Levitt said in a statement.

The auction was as a result of the liquidation of Philken Building Construction — one of the largest residential property developers on the West Rand and Roodepoort.

The properties would go under the hammer at one 'jumbo auction' and according to the auctioneers, this would be the highest value parcel of residential properties to hit the market at one time.

The 611 units are divided between three main property developments: a 64 unit apartment block in Lakeview in Florida, 40 cluster units in Eagle Falls in Amarosa, Ruimsig and 507 two- and three-bedroom sectional title units in Honeydew Gardens in Honeydew.

The auction will take place on Tuesday 30 October in Sandton.

Sapa

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