Iconic Carlton Centre Up for Sale Marking the End of an Era
Johannesburg is abuzz with news that the iconic Carlton Centre up for sale marking the end of an era. The Carlton Centre in the CBD is now on the market with an approximate price tag of R900 million as reported by IOL. Transnet, currently responsible for managing a diverse portfolio of commercial and residential properties valued at R6.5 billion, has decided to divest itself of this landmark building.
Transnet has described the property as an immovable asset, and is now up for sale. Transnet’s property unit was established on January 1, 2008, following the merger of Propnet and Transnet Housing. Initially created as a strategic support unit, its primary focus was not on growth but rather on serving as a corporate centre that managed the non-core and strategic property portfolio. The unit was responsible for overseeing these properties until they were either disposed of or utilized by the business while also providing corporate real estate services.
The crown jewel of the Carlton Centre is the Carlton Shopping Centre, renowned for its impressive lineup of tenants. The shopping centre boasts diverse local brands, including prominent names like Pick n Pay, Woolworths, Timberland, Edgars, Mr Price Kiddies, Absa, Nedbank, Standard Bank, Capitec, Clicks, McDonald’s, Nando’s, KFC, and Wimpy.
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In another development, Transnet has announced its intention to meet domestic and regional demand by seeking a partner to establish a leasing company within Transnet Engineering (TE). TE is an operating division of Transnet SOC Ltd, responsible for managing rolling stock operation and maintenance, including wagons and locomotives. The establishment of a leasing company aligns with the policy directive for rail reform. It aims to create a more accessible environment for new Train Operating Companies (TOCs) seeking to lease available slots on the rail network.
The move towards leasing is in line with the global trend observed among rail and port operators and aims to diversify TE’s revenue sources while further bolstering demand for its core business activities, which include manufacturing, re-manufacturing maintenance, and engineering services.
As Johannesburg witnesses the sale of the iconic Carlton Centre, a new chapter is set to begin for this landmark property. At the same time, Transnet continues to pursue strategic initiatives to meet the industry’s evolving demands and maximize its operational potential.
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