In2Assets Achieves Record-Breaking R285.5 Million Property Auction Sale on Durban Landmark Industrial Facility, surpasses South Africa’s previously reported individual property auction record.
Durban, KwaZulu-Natal: In2Assets the national commercial property company has achieved a landmark result in the South African property auction industry, selling and confirming a major industrial facility for R285.5 million at its monthly public property auction held on 21 July 2026.
Situated at 25 Richard Carte Road within Durban’s established Southern Industrial Basin, the property comprises a combined land extent of approximately 45,458 m² and a gross lettable area of approximately 33,845 m².
The strategically positioned manufacturing, warehousing and logistics facility generates a net annual income of approximately R26.24 million, representing an initial net yield of approximately 8.24% on the confirmed selling price. The property is secured by a long-term triple-net lease with a prominent national tenant until August 2031.
Based on publicly available and independently reported auction records, the R285.5 Million confirmed sale is believed to represent the highest knockdown price ever achieved for an individual property at a public auction in South Africa.
The previous widely reported benchmark was the R205 million sale of the Kyalami Grand Prix Circuit in July 2014, which was described at the time as the highest price achieved for a single auction lot in South African history. The In2Assets transaction exceeds that benchmark by R80.5 million, or approximately 39%.
The industrial facility attracted nine registered bidders from across South Africa, demonstrating the depth of investor demand for substantial, income-producing industrial assets within the greater Durban region.
According to In2Assets, the success of the transaction was underpinned by the company’s longstanding relationships with South Africa’s leading commercial property owners and investors, supported by a focused national marketing campaign and a competitive public auction process.
“This result is not only a significant milestone for In2Assets, but also a powerful endorsement of the public auction method as an efficient and transparent mechanism for transacting high-value commercial property,” said Hein Hattingh CEO of In2Assets
“The property was marketed nationally for only four weeks and attracted nine registered bidders. Achieving and confirming a sale of R285.5 million within this timeframe demonstrates the strength of the In2Assets buyer network, the continued demand for quality industrial investments and the efficiency of a professionally managed auction campaign.”
The property’s scale, strategic proximity to the Port of Durban and major logistics routes, substantial industrial infrastructure and secure income stream positioned it as a highly sought-after institutional-grade investment. The facility includes extensive factory, warehouse and office accommodation, covered loading areas, dedicated loading infrastructure and approximately 11,000 m² of hardened yard and circulation space.
The transaction further reflects the resilience of South Africa’s industrial property sector, particularly for well-located logistics, manufacturing and warehousing facilities supported by established national tenants and long-term contractual income.
In2Assets believes the result demonstrates that, when high-quality commercial assets are supported by strategic marketing, comprehensive due diligence and access to qualified purchasers, the auction method can generate genuine competition, accelerate transaction timelines and establish market value in a transparent environment. The auction held on 21 July 2026 resulted in a phenomenal strike rate by successfully selling 20 properties with a gross turnover of R357.4 million.
About In2Assets
In2Assets is a leading South African property auction and advisory company specialising in the disposal of commercial, industrial, retail, residential and development properties. Through its national buyer network, targeted marketing capabilities and experienced auction team, In2Assets connects property owners with qualified purchasers and delivers structured, transparent and results-driven property transactions.
