NEW CHAPTER FOR CAPE'S ICONIC LANDMARK

Golden Acre Shopping Centre sold for R781m

- GENEVIEVE SERRA and VIVIAN WARBY

HISTORY has been made as the iconic Golden Acre Shopping Centre has been sold for R781 000 000.

The sale was approved by the Competition Commission in February following its transfer.

But behind the sale, transfer and negotiations, it has become a place of identity for Cape Town residents, where the Kaapse Klopse would visit just outside on the Grand Parade, a walk-through for bus commuters to the Golden Arrow bus terminus to Christmas shopping and the hustle and bustle of the CBD.

The new owners (Putirex (Pty) is set to redevelop the mall which was built by Sanlam in the 1970s. According to property mogul, Ash Müller, who took to her Twitter account yesterday, the mall, which has become an historical and iconic landmark, will be upgraded with plans for its 110m-high tower.

Muller wrote: “The Golden Acre Shopping Centre in Cape Town has finally sold for a price tag of R781 000 000.

“This was a really complicated deal, and it has taken months for the property to finally transfer. In February this year, the Competition Commission approved the deal.