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Sandton Gautrain Property Draws Investor Interest: Valued at R800 Million
The Sandton Gautrain Station property, valued at R800 million, has garnered significant interest from both local and international investors, according to Broll Auctions and Sales.
The site, previously embroiled in controversy due to its historical transaction with a company associated with the Gupta family, is set to be sold after tender bids close on Friday.
The property, located at the corner of Rivonia Road and West Street in Sandton, comprises four hectares of undeveloped land suitable for mixed-use development.
Potential buyers include hospitality companies, international investors, pension funds, and private investment firms. Norman Raad, CEO of Broll, highlights the property's prime location near Sandton City and Nelson Mandela Square, making it an attractive investment opportunity.
The original plans for a 65-floor tower named Kgoro Central did not materialize, prompting the need for amended redevelopment plans.
Questions regarding the possibility of converting leaseholds to freehold are being considered by the city. The transaction with Cedar Park
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