Growthpoint Properties today acquired Site B Lower Long Street in Cape Town’s Foreshore, securing and landmark development site situated between two of its property assets. The 3,932sqm piece of land, Erf 165639 Cape Town, has developable bulk of 17,500sqm which neighbours the Investec building and ENS building, both owned by Growthpoint. It was acquired for R86,5 million on auction. The property was put on auction by the City of Cape Town, with over 100 people attending the event including Cape Town’s Executive Mayor and other city officials. The transaction remains subject to acceptance in line with the city’s regulatory processes.
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