Telkom auctioning off 54 properties – including land in the Cape Columbine Nature Reserve

Telkom is in the process of auctioning off the unused commercial property in its real estate portfolio, with the next batch of buildings set to go under the hammer in August.

Following the online auction of surplus Telkom properties held in December 2021, a second national auction comprising 54 properties has been launched by auctioneers, Liquidity Services.

The Telkom properties are located across the country, including the main centres in Johannesburg. The reserve price for the auction is R64.5 million, with the highest ticket item being the group’s Joubertpark building in Hillbrow, with a reserve price of R19.75 million.

A 2021 auction saw the sale of 45 Telkom properties for a collective R60 million. Some properties fetched up to three times their reserve price, Liquidity Services said.

“We have helped Telkom dispose of its surplus assets for the last 10 years and have already sold well over 200 properties during this time, with total values approaching R750 million,” said real estate professional, Kim Faclier, head of property at Liquidity Services.

As in the previous sales, the properties include commercial and industrial buildings, vacant and agricultural land in various parts of South Africa.

The disposal of its surplus property is in line with changes in the company’s need for large office space and storage, following the progressive digitisation of its service, the group said.

The properties featured in the latest portfolio include 10 located in Gauteng, 10 in Mpumalanga, nine in the Western Cape, eight in KwaZulu- Natal, six in North West, four in the Eastern Cape, four in Limpopo, two in the Northern Cape, and two in the Free State.

“A few of the properties have structures, ranging from office buildings, ETE buildings and towers, as well as warehouses,” Liquidity Services said.

The full property list can be viewed on the event page, with bids set to close on 4 August 2022.

Read: Telkom paid former boss R10 million retention fee to keep competitors away

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Telkom auctioning off 54 properties – including land in the Cape Columbine Nature Reserve