Telkom auctioning properties costing R500 million

Telkom is in the process of getting ready to auction off 50 properties across the country which are estimated to be worth more than R500 million.

Telkom’s National Portfolio Disposal of 50 properties will be auctioned off by property auction house In2Assets on the 22^nd of August 2023.

In2assets is said to be mandated to take 50 properties to the market which will be sold at the same auction event, properties which are a part of a national portfolio of Telkom & Gyro Properties. In2Assets said they are still busy with their estimations, , but early analysis indicates expectations in excess of R500 million.

These properties are located in all nine provinces, with the largest portion being in Gauteng. There are 10 properties in Gauteng, 9 in KwaZulu-Natal, 6 in Mpumalanga, 6 in North West, 6 in the Western Cape, 5 in the Northern Cape, 4 in the Eastern Cape, 3 in the Free State and 1 in Limpopo.

The property sizes and types vary from residential to industrial. One of them is a 37,828 m² commercial property near Durban Harbour, currently being used as a Telkom training centre. Another one is a corner property in the Eastern Cape that is 2,340 m² situated

One interesting property on auction is a 3,008 m² frontline commercial building in Durban, as it is famously known as the SA Post Office in Mobeni. According to the website for In2Assets, the position and configuration of the property lend itself for a specific retail outlet or a fast-food drive-through passage that could cater for this busy industrial node.

Telkom has auctioned off a large number of properties in the past as well.  2021 December, Telkom sold 45 properties for R60 million. In July 2022, Telkom auctioned off 54 properties, for which the reserve price was R64.5 million.

This year’s will take place at 11:00 on the 22nd of August 2023 and requires a R50,000 refundable registration deposit.

Some of the properties up for auction include the ones below: