The property was sold during a live auction conducted by Broll Auctions and Sales for R129 million; however, it did not go through and will be launched for sale by Cobus Odendaal from Lew Geffen Sotheby’s International Realty on 1 September.
“The office layout is changing as the need for office stations for all employees recedes, and the need for meeting and collaboration spaces increases and the repurposing existing office space and updating building layouts are now a focus point for many real estate companies and investors,” he said. “In Johannesburg, the main commercial hubs like in areas Melrose, Rosebank and Hyde Park are already fully developed, and developers are now repurposing older buildings in order to meet the shifting demands.
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