New buildings pop up in Cape Town every other day. It’s nothing new. When there is talk about a a landmark building auctioned at R86.5 million being built, it’s the talk of the town.
Site B, located in Lower Long Street, was bought by Growthpoint Properties from the City of Cape Town earlier this week. David Stoll of Growthpoint’s Cape Town regional head said that this site is an attractive area in Cape Town’s foreshore and it is the perfect location for a brand new development and iconic building.
There are no final plans for the development yet but there is talk about an office building with ground-floor retail. The building will be a maximum height of 55m and is the latest addition to various building developments in the Foreshore area. Over R6 billion has been invested in Foreshore developments since 2012.
The aim is to create a landmark building which will become an asset to Capetonians, the Cape Town environment and future investment.