Offering almost 20 000m² of gross lettable area and Business 4 zoning with additional bulk available for development, the high-rise building consists of commercial offices with a retail component on the ground floor.

“Bellville is a central hub for education, commerce, healthcare and retail and also has the benefit of being just eight kilometres away from the Cape Town International Airport,” said Broll Auctions and Sales broker Matthew Counsell.

Located at 3 Old Paarl Road, with easy access to adjacent to Voortrekker Road, the Sunbel building falls into both the Voortrekker Road Corridor Improvement District and the Bellville Urban Development Zone, providing operational as well as tax incentives, according to Counsell.

“Built in the early 1980s in the Brutalist style of architecture, the Sunbel building, with its octangular shape, is a prominent landmark in the Northern Suburbs and has excellent visibility and panoramic views of the Cape Town skyline.”

The building has 520 parking spaces including open air, basement and covered bays which serve retail customers and are also leased to current tenants which include Clicks and Planet Fitness. 

“This prominent building offers developers and investors a unique opportunity to unlock value from a property which has the potential to be a fundamental catalyst for further urban renewal of the Bellville CBD.”

The property will be auctioned at noon on February 16 at Wanderers Club in Johannesburg.