According to industry reports, In2assets is set to auction 29 significant Telkom properties across South Africa, including prime locations in the Western Cape. This sale marks a pivotal step in Telkom’s strategic initiative to dispose of its assets, presenting unique redevelopment prospects for investors and developers alike.
The auction will be live-streamed from the Mount Edgecombe Country Club through the In2assets platform, allowing for participation from both national and international bidders.
The properties up for sale include five in the Western Cape, nine in Gauteng, seven in the Eastern Cape, and four in KwaZulu-Natal. Additionally, individual properties will be auctioned in the Northwest Province, Limpopo, Northern Cape, and Mpumalanga.
This auction continues a trend of property sales by Telkom throughout South Africa, facilitated by In2assets. In September, their national property disposal auction achieved a record turnover of US$33 million, marking it as one of the largest in the nation’s history.
On August 29, 2024, In2assets hosted the auction at the Mount Edgecombe Country Club in KwaZulu-Natal. The auction showcased nine properties in Gauteng, four in Cape Town, three in Durban, and others in Port Elizabeth and Welkom, among other locations.
Several well-known buildings and landmarks stood out during the auction, which heightened investors’ interest. It generated a turnover of US$33 million, solidifying its status as the most significant property auction by turnover in South African history.
According to In2assets, all 17 properties presented during the auction were sold, highlighting the exceptional demand for these premium locations. Hein Hattingh, managing director of In2assets, emphasized that Telkom’s national property disposal auction was a record-setting event and a strategic measure for parastatal entities like Telkom to convert non-essential buildings and land into critical cash resources.
