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The Kyalami race circuit, which has hosted Formula One racing greats including Ayrton Senna and Alain Prost, was sold at an auction for R205 million in Johannesburg on Thursday.
It was sold to a telephone bidder in an auction lasting around 1 minute and 50 seconds.
The successful bidder was Toby Venter of Porsche and its expected that it will remain as a racetrack.
Lot 25 of the auction Farm Bothasfontein, better known as Kyalami, is a 72-hectare property in Midrand.
The auction fetched the highest price for a single lot in South African history.
Prior to the auction, fears were expressed that a new buyer might opt to develop the prime piece of property as something other than a race track.
