One of South Africa’s most iconic buildings is up for sale, again

Transnet has put the Carlton Centre up for sale, along with 14 other properties that are no longer considered core assets.

This is the third time Transnet has put the iconic building up for sale, with a previous attempt in 2023 failing to attract any successful buyers.

There have also been numerous attempts to revive the centre, which contains South Africa’s iconic Carlton Hotel, but it has remained largely empty for years.

In the Government Gazette on Monday, 24 August, Transnet announced that it intends to dispose of 15 immovable commercial properties.

Under South African law, national government departments, provincial government departments, municipalities, state-owned companies, and other public entities have the first right of refusal.

The 15 properties Transnet wants to sell include the Mount Frere Shopping Centre in the Eastern Cape, Arcadia Park in East London, Avion Park Golf Course in Ekurhuleni, and the Carlton Centre.

Located in Marshalltown, Johannesburg, the Carlton Centre is one of South Africa’s most iconic buildings and home to the renowned Carlton Hotel.

Opened in 1972, the thirty-storey luxury hotel has stood empty for close to three decades since Anglo American shut it down in 1997.

At its peak, it was considered the finest in Africa, boasting 600 rooms, a rooftop pool, several restaurants, and upmarket retail stores.

The hotel has also hosted many of the world’s biggest celebrities and statesmen, including Henry Kissinger, François Mitterrand, Hillary Clinton, Margaret Thatcher, and Whitney Houston.

However, as with many South African companies, the hotel did not survive the impact of businesses moving out of Johannesburg’s central business district to Sandton and Rosebank.

Therefore, Anglo American shut the doors in December 1997, sold its contents to the Protea Hotel, and it has been closed ever since.

Transnet came to own the hotel and the surrounding centre when it bought it from Anglo American in 1999 for R33 million.

The price Transnet paid was far below the building’s original construction cost, but the state-owned company had big plans to renovate and redevelop the centre.

However, these plans did not pan out, and Transnet put the building up for sale three times.

The first attempt to sell the Carlton was in June 2007, under former Transnet CEO Maria Ramos’ leadership.

The sale formed part of Transnet’s non-core asset disposal programme, but was put on ice due to the 2008 Global Financial Crisis.

Another attempt to sell the centre came in 2023, with Transnet asking for R900 million. This plan was also abandoned in 2024 after prospective bidders failed to secure adequate funding.

Now, Transnet is set to try a third time, putting the 28,291 m² up for sale once again. 

The company did not specify an asking price in the Government Gazette, but invited interested parties to submit written expressions of interest within 30 days.

The table below shows all of the properties Transnet has put up for sale.