Telkom auctions 50 more of its properties across SA

Following increased digitisation of its services.
Image: Bloomberg

JSE-listed telecommunications provider Telkom is auctioning another 50 of its surplus properties, following the success of a similar sale in December 2021.

Telkom auctioned 45 properties in 2021, which garnered over R60 million in total. According to Telkom’s auctioneer, Liquidity Services, some of the properties were sold for three times more than their reserve prices.

Read: Telkom pays departed CEO R10m ‘retention bonus’, in the year he resigns

“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 services,” adds a statement issued on Monday.

Read: Telkom shares soar over 26% as MTN wants to buy it

The auctioneer says the properties in the 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.

It says the property on auction ranges from office, commercial and industry buildings to vacant plots of land, towers, warehouses and agricultural land.

The portfolio includes a 3 497 squre-metre, multi-storey face brick office building, on Wolmarans Street in Hillbrow, Johannesburg, with a total GLA of more than 47 000 sqm. “It is situated off Smit Street and 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.”

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Another major property, situated on Victoria Street in Somerset West in the Western Cape, is an 8 390 sqm office park with three single-storey buildings and one double storey face brick office building. “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.”

The auctioneer says starting bids, set to close on August 4, vary on all properties and can be done via its online marketplace.

Nondumiso Lehutso is a Moneyweb intern.

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