A commercial property auction Web site is poised to hold its first auction this month. Situated at http://www.propertyauctions.co.za, the site launched last week, and is already taking registrations for the first online auction, scheduled for later in May.

?It is the first and only dedicated online property auction platform in SA, allowing for both the disposal and acquisition of commercial properties,? says Frank Reardon, MD of eProp, the site"s developer. He adds that the site provides an electronic auction platform to sell office, retail and industrial property, and land for development. "The aim of the business model is to keep property auctions both straightforward and simple," Reardon states.

eProp?s existing marketing channels, which aim to target thousands of property investors, experts and space users, will be used to spread the word about the new service offering, and to save users the marketing costs often associated with traditional auctions.