R285.5 Million Sale Breaks South Africa’s Property Auction Record
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Specialist auction house In2Assets closes a milestone transaction on a high-value manufacturing and logistics facility in Durban’s Southern Industrial Basin, surpassing the national single-lot record set in 2014.
A major manufacturing, warehousing, and logistics facility in Mobeni, Durban, has been sold at auction for R285.5 million, marking the highest price ever achieved for an individual property at a public auction in South African history.
The transaction, conducted by specialist commercial property auction house In2Assets on July 21, 2026, surpassed the previous national single-lot record of R205 million—held since the sale of the Kyalami Grand Prix Circuit in July 2014—by roughly 39%.
Situated at 25 Richard Carte Road within Durban’s prime industrial hub, the property spans a land area of 45,458 square meters with 33,845 square meters of gross lettable area.
Secured by a long-term triple-net lease with a major national tenant running through August 2031, the asset generates an annual net income of approximately R26.24 million, representing an initial yield of 8.24%.
The sale attracted nine registered institutional and private bidders from across the country, highlighting sustained investor demand for income-generating logistics real estate with direct proximity to the Port of Durban.
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