So, as we told you earlier today Kyalami race circuit and its surrounding property went under the hammer today with a reserve price of R200 million. It was sold for R5 million more to a buyer who phoned in their bid.

And the lucky winner is… Porsche.

 The historic Kyalami racetrack has been auctioned off to Porsche for R205 million and is set to remain a functioning motoring hotspot.

The famed circuit, which sits on a 72 hectare site north of Johannesburg, hosted Formula One Grand Prix races for nearly two decades.

It was recently put up for sale due to the liquidation of the company which owned the property.

Bidding for the property started at R200 million and a phone-in bid by Porsche won after a fairly tame auction.

The future looks pretty exciting for the race track and we look forward to seeing what Porsche can do with it.

Full story of the sale from EWN