Property

R285.5 million sale breaks South Africa’s property auction record

Kirsten Minnaar • 1 August 2026

At a sale price of R285.5 million, a Durban industrial facility achieved the highest price ever for an individual property at a public auction in South Africa.

A monthly public property auction held by In2Assets on 21 July 2026 saw the successful sale of 20 properties with a gross turnover of R357.4 million.

However, one industrial property, sold for R285.5 million, stands out as the highest price achieved on the lot and the most expensive for any public auction.

Situated at 25 Richard Carte Road within Durban’s Southern Industrial Basin, the sale of this property represents a landmark result in the South African property auction industry.

It comprises a combined land extent of 45,458 m² and a gross lettable area of 33,845 m². The manufacturing, warehousing, and logistics facility generates a net annual income of approximately R26.24 million.

This represents an initial net yield of 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 sale is believed to be the highest knockdown price ever achieved for an individual property at a public auction in South Africa.

The country’s previous widely reported benchmark was the R205 million sale of the Kyalami Grand Prix Circuit in July 2014.

At the time, this was described 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 39%.

The industrial facility attracted nine registered bidders from across South Africa, demonstrating the depth of investor demand for substantial, income-producing industrial assets in Durban.

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.

The successful auction was also supported by a focused national marketing campaign and a competitive public auction process.

High-quality industrial assets continue to attract investor demand

“This result is not only a significant milestone for In2Assets, but also a powerful endorsement of the public auction method,” said In2Assets CEO Hein Hattingh.

It demonstrates that auctions are an efficient and transparent mechanism for transacting high-value commercial property.

“The property was marketed nationally for only four weeks and attracted nine registered bidders,” Hattingh explained.

“Achieving and confirming a sale of R285.5 million within this timeframe demonstrates the strength of the In2Assets buyer network.”

According to Hattingh, it also shows 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 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.

The industrial property industry is also being supported by established national tenants and long-term contractual income.

In2Assets said the result demonstrates the value of high-quality commercial assets supported by strategic marketing, comprehensive due diligence, and access to qualified purchasers.