Prime conversion opportunity in the Johannesburg CBD

Posted On Wednesday, 12 October 2011 02:00 Published by eProp Commercial Property News
Rate this item
(0 votes)

The property, which will be sold on the basis of vacant occupation, is offering investors with a prime redevelopment opportunity

Property-Housing-ResidentialDuring Auction Alliance’s upcoming Commercial Multiple auction on October 27, Cape Towers, a prominently situated 19 storey commercial property in Marshalls Town in the heart of the Johannesburg CBD, will be brought under the auctioneer’s gavel.

Centrally situated at 11 Mclaren Street, the property forms part of the Anglo American precinct in the CBD, which is home to a number of properties owned by the Anglo American Group. Anglo American is currently involved in expansion plans for the modernisation of their entire Johannesburg Campus.

The facility extends over an approximate GLA of 5,511m², and comprises office space and 80 parking bays.

Comments Gareth Botha of Auction Alliance, “Anglo American’s expansion plans within the area are anticipated to have a significant impact on the overall renewal of the area. The property’s prominent location within this precinct, together with the fact that the building lends itself to a variety of possible uses, including 150 residential apartments or up-market office space, makes it a highly lucrative investment opportunity”.

Last modified on Wednesday, 14 May 2014 18:57

Most Popular

Tshwane Regional Mall Grand Opening date set

Aug 31, 2019
  TSHWANE REGIONAL  MALL
24th October 2019, the long-awaited day earmarked for the grand opening of Tshwane…

Attacq Ltd and Tricolt break ground on Ellipse Waterfall

Aug 30, 2019
 13 2
Today Attacq Ltd the JSE listed REIT developing Waterfall City, and Waterfall Logistics…

Redefine Properties appoints Daisy Naidoo as independent non-executive director

Aug 30, 2019
 STRATE 1
Redefine Properties appoints Daisy Naidoo as independent non-executive director.

Founder Marc Wainer retires from Redefine Properties

Aug 31, 2019
 MARC WAINER
JSE listed diversified real estate investment trust Redefine Properties today announced…

Eris Property Group appoints successive CEO Barend de Loor

Aug 30, 2019
 BAREND DE LOOR
Eris Property Group has appointed a new Chief Executive Officer (CEO). Barend de Loor…

Please publish modules in offcanvas position.