The Golden Acre Shopping Centre in Cape Town has finally SOLD for a price tag of R781 000 000💸
This was a really complicated deal, and it has taken months for the property to finally transfer. In February this year, the Competition Commission approved the deal.
The price includes the building next door, located at 11 Adderley Street. The shopping centre itself has a total of 55 730m2 of retail and office space.
The new owner (Putirex (Pty) Ltd) is quite far down the line with their plans to redevelop the 110m-high Golden Acre Tower and upgrade the retail area. The concrete tower was initially built by Sanlam in 1979.
Golden Acre is home to around 100 retailers, some of which include Ackermans, Markham, Foschini, Sportscene, Totalsports, Shoprite, McDonald’s, Wimpy, KFC, Steers, and Hungry Lion.
Do you have any special memories associated with this building? I would love to hear them in the comments.
People often talk about the beauty of football commentators allowing the moment to breathe by saying nothing when a big goal is scored in a game, this is a shining example of the same thing in golf.
Sometimes on comms, less is more.