July 28 2026 15:00
DURBAN, SOUTH AFRICA
A national commercial property company called In2Assets has said it achieved a landmark result in the South African property auction industry, with sale of an industrial facility for R285.5m at a monthly public property auction held on July 21.
Situated at 25 Richard Carte Road within Durban’s established Southern Industrial Basin, the property included a combined land extent of approximately 45,458 m² and a gross lettable area of approximately 33,845 m².
This is the highest knockdown price ever achieved for an individual property at a public auction in South Africa.
The previous widely reported record was the R205m sale of the Kyalami Grand Prix Circuit in July 2014.
The In2Assets transaction exceeds that benchmark by R80.5m, or by 39%.
“This result is not only a significant milestone for In2Assets, but also a powerful endorsement of the public auction method as an efficient and transparent mechanism for transacting high-value commercial property,” said Hein Hattingh CEO of In2Assets.
The manufacturing, warehousing and logistics facility has generated a net annual income of about R26.24m, representing an initial net yield of about 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. Last month in a press release, Galetti Corporate Real Estate’s auction arm said that it completed R328m in property transactions during May 2026, representing nearly half of May’s approximately R700m in auction sales.
It expected the auction market to grow by as much as 50% during its 2026/27 financial year, driven by “increasingly sophisticated buyer targeting, data-led sales strategies and growing investor participation”.
247@propertyflash.co.za
