Telecoms15.08.2024

Telkom selling properties across South Africa

In2assets will hold a Telkom National Portfolio Disposal auction, selling properties owned by the telecommunications operator across South Africa.

In2assets are specialists in commercial, industrial, agricultural, and residential property and is known for successful public auctions.

The company will hold a public auction, with live and online bidding, selling numerous properties in Telkom’s national portfolio.

It highlighted that the sale agreements have been approved by Telkom’s legal department and will be made available to all potential buyers.

“Telkom will not allow any changes to be made to their sale agreement,” In2assets told prospective buyers.

In2assets added that none of Telkom’s properties have approved building plans or occupation certificates.

“All costs pertaining to obtaining, updating, passing and the required certification and approving of the occupation certificate and building plans will be solely for the purchaser’s account,” it said.

The Telkom National Portfolio Disposal auction includes nine properties in Gauteng, four in Cape Town, and three in Durban.

It further offers one Telkom property in Port Elizabeth, Eastern Cape, and one in Welkom, Free State.

What is striking about the auction is that many of the properties are prominent buildings and landmarks in the respective cities.

This is not the first time Telkom has sold many of its properties at a public auction. Last year, Telkom auctioned 50 properties for over R500 million.

In August 2023, In2Assets auctioned off properties that formed part of Telkom and Gyro Properties’ national portfolio.

The 50 properties were located across the country in all nine provinces, with the largest portion in Gauteng.

There were ten properties in Gauteng, nine in KwaZulu-Natal, and six each in Mpumalanga, North West, and the Western Cape.

The auction also included five in the Northern Cape, four in the Eastern Cape, three in the Free State, and one in Limpopo.

The properties varied in size and type, from residential to industrial. One of the properties on auction is a 37,828m² commercial property near Durban Harbour.