A national commercial property company has said it achieved a landmark result in the South African property auction industry, selling and confirming a major industrial facility for R285.5 million at its monthly public property auction held on July 21.
Situated at 25 Richard Carte Road within Durban’s established Southern Industrial Basin, the property comprises 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.
Based on publicly available and independently reported auction records, the R285.5 million confirmed sale is believed to represent the highest knockdown price ever achieved for an individual property at a public auction in South Africa.
The previous widely reported benchmark was the R205 million sale of the Kyalami Grand Prix Circuit in July 2014, which was described at the time as the highest price achieved for a single auction lot in South African history.
The In2Assets transaction exceeds that benchmark by R80.5 million, or approximately 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 property was marketed nationally for only four weeks and attracted nine registered bidders. Achieving and confirming a sale of R285.5 million within this timeframe demonstrates the strength of the In2Assets buyer network, the continued demand for quality industrial investments and the efficiency of a professionally managed auction campaign.”
The strategically positioned manufacturing, warehousing and logistics facility is said to have generated a net annual income of approximately R26.24 million, representing an initial net yield of approximately 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.
Industrial facility attracted nine registered bidders from across South Africa
The industrial facility attracted nine registered bidders from across South Africa, demonstrating the depth of investor demand for substantial, income-producing industrial assets within the greater Durban region.
According to In2Assets, the success of the transaction was underpinned by the company’s longstanding relationships with South Africa’s leading commercial property owners and investors, supported by a focused national marketing campaign and a competitive public auction process.
Secure income stream positioned as a highly sought-after institutional-grade investment
The property’s scale, strategic proximity to the Port of Durban and major logistics routes, substantial industrial infrastructure and secure income stream positioned it as a highly sought-after institutional-grade investment. The facility includes extensive factory, warehouse and office accommodation, covered loading areas, dedicated loading infrastructure and approximately 11,000 m² of hardened yard and circulation space.
The transaction further reflects the resilience of South Africa’s industrial property sector, particularly for well-located logistics, manufacturing and warehousing facilities supported by established national tenants and long-term contractual income.
20 properties sold with a gross turnover of R357.4 million
In2Assets said it believes the result demonstrates that, when high-quality commercial assets are supported by strategic marketing, comprehensive due diligence and access to qualified purchasers, the auction method can generate genuine competition, accelerate transaction timelines and establish market value in a transparent environment. The auction held on 21 July 2026 resulted in a phenomenal strike rate by successfully selling 20 properties with a gross turnover of R357.4 million.
Industrial warehousing and logistics property boost
In March, Michelle Harris, licensee for Seeff South Coast said the significant multi-year upgrades and modernisation of the Durban Port along with other upgrades such as the N2 and general development were a major growth boost for the property sector, including industrial warehousing and logistics property,
She said the Durban Port is a massive economic gateway, connecting regional and local economies to international shipping routes, and boosting the region and small towns of the KZN South Coast area. It supports trade in sectors such as automotive, manufacturing, and agriculture.
A key beneficiary of the Port is the Durban South Basin (DSB) which includes areas such as Prospecton, Mobeni and Jacobs in Amanzimtoti. These areas are in high demand, close to the N2 and about 15-minutes from the port.
DSB is said to be an important and thriving industrial warehousing and logistics hub for the port.
The DSB is said to be an important and thriving industrial warehousing and logistics hub for the port, well-known for the major Toyota manufacturing plant, which produces several models, including the Hilux and Corolla Cross, says Camilla White, a property agent with Seeff Amanzimtoti.
The industrial warehousing and logistics sector is said to be particularly doing well and is leading the three commercial property categories, according to a recent report by economist, John Loos. Industrial property is said to boasts the shortest market turnaround, fuelled primarily by e-commerce growth and supply chain needs.
Property sector prospects
In June, Galetti Corporate Real Estate said SA’s property auction market is showing strong signs of growth.
The company says it had concluded R328 million in property transactions during May 2026, representing nearly half of May’s approximately R700 million in auction sales.
The real estate agency said it expects the auction market to grow by as much as 50% during the 2026/27 financial year, driven by increasingly sophisticated buyer targeting, data-led sales strategies and growing investor participation.
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