The highest price for an individual property on auction in South African history, was achieved on Thursday for The Wheel Shopping Centre which was knocked down for R100 million.

The auction was conducted at the Park Hyatt Hotel in Johannesburg, where approximately 300 people attended. The auction had a live satellite feed to Durban, and a telephonic link to Cape Town, where in excess of 50 and 250 people attended respectively.

The auction was conducted by Auction Alliance.