Telkom selling properties worth R500 million

Telkom will soon be auctioning off 50 properties across the country that are estimated to be worth more than R500 million.

On 22 August 2023, Telkom’s National Portfolio Disposal of 50 properties will be auctioned off by property auction house In2Assets.

The properties form part of a national portfolio of Telkom & Gyro Properties, for which In2assets “has been mandated to take 50 properties to the market which will be sold at the same auction event”.

“We are still busy with our estimations, but early analysis indicates expectations in excess of R500 million,” In2Assets told Daily Investor.

The 50 properties are located across the country in all nine provinces, with the largest portion based 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 properties vary in size and type, from residential to industrial. One of the properties on auction is a 37,828 m² commercial property near Durban Harbour, currently being used as a Telkom training centre. 

Another property on auction is a 2,340 m² corner property in the Eastern Cape that is situated in a residential area seen as a potential residential conversion.

One interesting property on auction is a 3,008 m² frontline commercial building in Durban, “well-known as the SA Post Office in Mobeni”.

According to the In2Assets website, “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”.

This is not the first time Telkom has auctioned off a large number of properties.

In December 2021, Telkom sold 45 properties for R60 million. In July 2022, Telkom auctioned off 54 properties, for which the reserve price was R64.5 million.

The latest auction will take place at 11:00 on 22 August 2023 and requires a R50,000 refundable registration deposit.

Daily Investor reached out to Telkom for comment, but the company did not respond by the time of publication.

Below are some of the properties up for auction: