by In2assets  |   August 30, 2024

Telkom Disposal Auction a Huge Success

Telkom Disposal Auction a Huge Success: A Record-Breaking Event in South Africa


Durban 30.08.24 – The highly anticipated National Telkom Property Disposal Auction, hosted by In2assets property specialists, has concluded with resounding success, marking a significant milestone in South Africa’s property market. The livestreamed auction attracted an impressive 127 registered bidders from local, national, and international locations, resulting in a turnover of R 617 million—exceeding all expectations.

In what is being hailed as the largest property auction by turnover in South African history, all 17 properties on offer were successfully sold and confirmed at the fall of the hammer. The diverse portfolio, spanning prime locations across Cape Town’s CBD, Johannesburg, Pretoria, Durban, Port Elizabeth, and Welkom, generated intense interest from investors, underlining the immense potential and value of these assets.

This auction sale is more than just a record-breaking event; it represents a strategic move for parastatal institutions like Telkom to turn non-core buildings and land into vital cash injections. Such initiatives provide a significant boost to the financial health of these institutions, allowing them to reallocate resources and invest in their core operations.
Property experts across the industry have recognized the significance of this event, highlighting the unprecedented success achieved by In2assets in orchestrating this historic auction. The event not only set a new benchmark for property auctions in the country but also showcased the strength and appeal of South Africa's property market on the global stage.

Hein Hattingh MD at In2assets, expressed gratitude for the overwhelming response: "We are thrilled by the success of the Telkom Disposal Auction. The exceptional turnout and the record-breaking results underscore the confidence investors have in the South African property market. We are proud to have facilitated this landmark event, which also plays a crucial role in providing financial support to parastatal organizations."

This auction serves as a testament to the growing demand for high-profile properties in strategic locations and cements In2assets' reputation as a leader in the property auction industry.

For further information, please contact Hein Hattingh - hhattingh@in2assets.com | 0861 444 769