Image created by AI

Major Telkom Property Auction Opens Doors for Investors and Developers Across South Africa

Published December 01, 2024
2 months ago

In a significant move reflecting Telkom’s ongoing strategy to optimize its real estate portfolio, the telecommunications giant is set to auction off 29 prominent properties through In2assets, a leading property sales platform. This series of auctions, slated for August 29, 2024, from the scenic Mount Edgecombe Country Club, holds particular importance due to the variety of properties on offer stretching across South Africa, from bustling metropolitan hubs to quieter, scenic locales.





This national initiative not only highlights Telkom’s approach to asset management but also presents a bevy of opportunities for investors and developers looking to expand or begin their portfolios. The auction will be telecast live, facilitating both national and international bidder participation — a strategic attempt to garner wide interest and ensure competitive bidding.


Among the properties listed, significant attention is directed towards five notable sites in the Western Cape. These range from extensive industrial yards in Ndabeni and Bellville to a trendy office in Woodstock and other unique listings in Khayelitsha and Elgin, Grabouw. Each property is distinct in potential uses, whether for commercial ventures, industrial projects or residential and mixed-use developments, reflecting the diverse range of possibilities for interested parties.


The previous auction held in September ended successfully, turning over a staggering R617 million — a record in South African auction history. Each of the 17 properties listed was sold, underscoring the high desirability of Telkom’s assets among investors. Hein Hattingh, managing director of In2assets, noted that the event was not only historic in terms of financial turnout but also marked a strategic maneuver by parastatal institutions to monetize non-core assets effectively.


The properties in the upcoming auction are expected to generate similar excitement. For example, the site at 8 Jan Smuts Drive in Cape Town offers developers a chance to tap into the city’s commercial or industrial sectors with its vast space and established structures. Meanwhile, the iconic Telkom Exchange building on Salt River Road presents a unique opportunity for conversion into residential or retail spaces in a sought-after area of Woodstock.


Potential investors are particularly keen on properties like the 130 Osborne Street site in Bellville, which promises extensive logistical or industrial development opportunities due to its size and strategic placement.


The decision to auction these properties reflects Telkom’s broader aim to streamline operations and shift focus from managing non-strategic assets towards advancing core telecommunications services. It also fits into a larger narrative of state-owned enterprises in South Africa pushing to enhance financial stability through asset monetization.


Prospective bidders can anticipate a robust portfolio of properties, robust support from In2assets, and the transparency of a live-streamed event encouraging fair competition. This auction not only signifies a reshaping of Telkom's asset portfolio but also revitalizes local real estate markets, potentially ushering in a wave of innovation and development projects across multiple regions.


Leave a Comment

Rate this article:

Please enter email address.
Looks good!
Please enter your name.
Looks good!
Please enter a message.
Looks good!
Please check re-captcha.
Looks good!
Leave the first review