Prime conversion opportunity in the Johannesburg CBD

Posted On Wednesday, 12 October 2011 02:00 Published by eProp Commercial Property News
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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

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