The project comprised the acquisition, upgrading and subsequent resale of the 11 storey Terraces building in Riebeeck and Bree Streets, Cape Town.
At the same time as the Terraces was acquired, the adjoining city block was also acquired and a new 600 bay parking garage and a
9 750m² office building was developed and tenanted. The property was acquired in 2003 and the combined properties were sold to a listed property fund for R 240m in 2005.
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