Developers have their sights set on prime Sandton Gautrain site as liquidators hunt for new buyer

One of South Africa’s most valuable undeveloped land parcels, a 3.9-hectare site adjacent to Sandton City is once again up for sale, this time through a closed auction process.

The landmark position of the site above the Sandton Gautrain Station is surrounded by some of Johannesburg’s most prominent corporate headquarters, and widely regarded as the country’s most centrally connected development site.

The 39,112m² property was previously offered for sale in a closed tender last year, but the transaction fell through after the seller failed to meet their obligations.

Zoned for special use, the site is approved for a broad range of activities including business, retail, residential, and hospitality developments, as well as public and private transport facilities.

Broll Auction and Sales are facilitating the auction process, with prospective buyers able to arrange site visits and due diligence by appointment.

To participate, bidders must complete registration documents, provide proof of funds, and pay a refundable registration fee of R150,000 by 25 November. Closed bids are to be submitted at 10am on 27 November at Broll Property Group’s offices in Sandton.

Speaking to Stephen Grootes on The Money Show, Norman Raad, CEO of Broll Auctions and Sales says this is a vast piece of land on offer in a bustling metropolitan city.

"The vast part of the land has unlimited rights and it extends through, up and adjacent to and across the road to Sandton City and all the way linking to Sandton square," said Raad.

"You could do offices, you could do hotels, you could do residential developments and retail that compliments and extends through from the square," added Raad.

To hear more from Norman Raad, CEO of Broll Auctions and Sales about the auction of the land in Sandton, listen to the interview audio at the top of the article.