One of the highlights was the sale of two prominently situated ABSA properties which jointly fetched R44.6m at the auction.

The first property, situated at 20 St Georges Mall, sold for R22, 550,000 on the fall of the hammer. The blue-chip tenanted property includes ABSA as the anchor retail tenant, features both retail and office space and has long term leases in place.

 The second property, prominently situated at 377 Main Road, Sea Point sold for R22, 110,000. The property, a fully-tenanted, mixed- use building, hosts a retail and residential component and features ABSA as the sole retail tenant. The residential component includes 9 fully-let apartments, many enjoying with views onto the popular Sea Point Promenade.

Comments Gareth Currie of Auction Alliance, “The excellent location, first-rate tenants and long term covenants characteristic of both properties, resulted in phenomenal bidding amongst interested investors. Furthermore, the sale of both properties, reflect the amplified demand currently being experienced for prime properties in the Cape Town CBD and its ancillary areas”.

For more information contact Gareth Currie on 079 490 6470 or email This email address is being protected from spambots. You need JavaScript enabled to view it. or Ryan Joffe on 082 333 1665 or email This email address is being protected from spambots. You need JavaScript enabled to view it.