Two commercial buildings in Gauteng and the Western Cape are among 50 properties to be auctioned nationally on behalf of Telkom, by Liquidity Services.
The auction follows the success in December 2021 of a similar sale of 45 Telkom properties which attracted more than 2 000 bids and realised a total exceeding R60 million with some fetching up to three times their reserve price.
“We have helped Telkom dispose of its surplus assets for the past ten years and we have already sold well over 200 properties during this time, with total values approaching R750 million”, says Kim Faclier, Head of Property at Liquidity Services.
As in the previous sales, the properties include commercial and industrial buildings, vacant erven, and agricultural land in various parts of South Africa.
A majority-privatised company, Telkom, which operates in more than 38 countries across Africa, is a 39% state-owned enterprise with large real estate holdings. 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.
Prominent among the offerings in the current auction are two major properties, one in Johannesburg and the other in the Cape Town satellite town, Somerset West:
No. 109 Wolmarans Street in Hillbrow, Johannesburg (featured image), is a multi-storey face brick office building, standing on approximately 3 497m2, with a total GLA of more than 47 000m2. It is situated off busy Smit Street and it has easy access to the freeway and public transport. It also has the advantage of an extensive underground parking facility, and a built-in generator.
No. 58 Victoria Street, Somerset West (pictured below), is an 8 930m2 office park, comprising three single storey buildings and one double storey face brick office building. There is perimeter fencing on all boundaries, and shade parking. The vacant property is in good condition with a maintenance plan recommended to prolong the useful lifespan. It is in a small industrial node on the western periphery of the Somerset West CBD. There is easy access to the N2 National Highway connection to the greater South Western Cape.
Bidding via the company’s online marketplace AllSurplus will close on the 4th of August 2022.
