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Transnet wants to redevelop Joburg’s Carlton Centre and Cape Town’s Adderley Street precinct

The Carlton Centre in Joburg’s CBD which is still regarded as the tallest building in Africa. Picture: Antoine de Ras

The Carlton Centre in Joburg’s CBD which is still regarded as the tallest building in Africa. Picture: Antoine de Ras

Published Aug 1, 2022

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Transnet Property, an operating division of Transnet SOC Limited, wants to redevelop the Carlton Centre in Joburg and 1 Adderley Street in Cape Town.

The group said it was a part of its corporate strategy to optimise portfolio returns and strengthen Transnet’s balance sheet.

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Transnet said on Monday that it has approached the market to establish interest in the redevelopment of Carlton Centre and 1 Adderley Street.

“Through the two Requests for Information (RFI) on Friday (July 29), Transnet wishes to assess the availability of potential property developers, investors, funders and financiers that may be available for the joint redevelopment of these properties,” Transnet said in a statement on Monday.

Carlton Centre

The construction of the Carlton Centre precinct began in the early 1960s and was completed in 1973.

At 223m high, the Carlton office tower is among the three tallest buildings on the continent.

The precinct consists of the office tower, retail section, Skyrink and hotel.

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The hotel was mothballed, and only the retail section was fully functional.

The breakdown is:

  • Carlton Towers, with offices at 68 000m².
  • The Carlton Shopping Centre, a busy shopping mall in the precinct, is 53 000m² and the Carlton Hotel with 663 rooms,is 43 500m².
  • The Carlton Court (annex building) has 63 rooms and is on Kruis Street opposite the Carlton Hotel, connected by a pedestrian bridge.

1 Adderley Street precinct

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A landmark building at the bottom of Adderley Street that overlooks the Heerengracht Street in the CBD of Cape Town.

Transnet says it has recognised it as a key asset for the state-owned entity in the City of Cape Town.

The building is partially occupied (43%) by a handful of tenants, notably Transnet, Prasa Cape Town, Metrorail and Rovos Rail Tours.

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The external parking area and Old Marine Drive are also being let and managed by a third party.

Adderley Street is a famous street in Cape Town, South Africa. It is considered the main street of downtown of Cape Town. The Christmas lights, night markets, main train station and numerous shops and restaurants and office towers are on this thoroughfare. Picture Leon Lestrade.

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