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News Release

Johannesburg

Rosebank’s premier site sold

Jones Lang LaSalle holds a private tender for a piece of Rosebank's commercial land.


Owners of Rosebank’s premier development site wished to dispose of the asset and had had a number of approaches from potential purchasers. In order to ensure an arm’s length, fair and transparent process, they engaged the services of Jones Lang LaSalle to manage a private tender process.

 

Opposite the Hyatt Hotel and within a mere 200m of the Rosebank Gautrain station, this property was bound to generate a lot of interest at a time when developers are scrabbling to secure a piece Rosebank’s commercial action. The property was sold to Growthpoint Properties Ltd for the development of a tenant driven facility.  

 

“Tenders are most effective when disposing of high value real estate assets that have a wide appeal. Due to the hype, unnecessary exposure and in certain circumstances, uncertainty and risk, the larger property developers and investors generally don’t attend auctions. We have successfully managed a number of such tenders on behalf of private, corporate and institutional owners” says Andrew Bradford, head of Capital Markets. You are welcome to contact us to discuss how we can meet your expectations in terms of market value, industry wide exposure and required corporate governance.