Gupta-linked property in South Africa’s richest square mile goes on sale

A prime 3.9-hectare development site above the Sandton Gautrain Station – one of South Africa’s most valuable undeveloped land parcels – is back on the market in a closed auction.

The property occupies a landmark position above the Sandton Gautrain Station, adjoining Nelson Mandela Square, surrounded by major corporate headquarters such as Discovery, EY and RMB.

It represents the most centrally connected development site in the country, offering unrivalled accessibility and visibility in Africa’s leading financial district.

The property was put up for sale in 2024 in a closed tender process. However, the seller failed to meet their obligations.

Broll Auctions and Sales CEO Norman Raad, who is handling the sale, explained that this property offers an excellent investment opportunity.

“With exceptional accessibility and visibility in Africa’s leading financial district, this site offers an institutional-grade investment opportunity for developers, REITs and private capital investors seeking high land-value appreciation,” he said.

“This is the chance to bring to life a world-class, mixed-use development in the heart of Sandton. Its unrivalled location and flexible zoning present a generational opportunity for a serious investor.”

The 39,112 m² property is zoned for special use, for activities including business, retail, residential, municipal, hospitality, and related activities, including public and private transport facilities.

It is also zoned for social halls, private open spaces, places of refreshment, theatres, bioscope, bookmaking and sports betting facility

Development rights allow for a bulk of around 195,000 m², with 50% coverage, though higher coverage approval may be sought.

There are also no height restrictions, and the property is fully serviced within the Sandton municipal infrastructure grid.

The site has direct access to the Gautrain Station and pedestrian concourses, with immediate proximity to Sandton City, Nelson Mandela Square and major A-grade offices.

It also offers seamless connectivity via the M1 freeway and arterial routes linking Johannesburg North, Rosebank and Bryanston, and is 20 minutes from OR Tambo International Airport via the Gautrain.

“This opportunity offers an unrepeatable location above the region’s busiest transport hub and is ideal for a transit-oriented development that maximises exposure, footfall and accessibility,” Raad said.

“With flexible zoning and bulk rights, it is well-suited to a flagship commercial or mixed-use development.”

Conceptual feasibility studies indicate that the site is suitable for accommodating a premium mixed-use tower or integrated precinct, featuring a combination of office, retail, residential, and hospitality elements.

Many property experts and developers have noted that mixed-use developments are on the rise, particularly following the Covid-19 pandemic.

“During lockdown, many people chose to forgo their inner city homes and move to the suburbs or outlying areas,” Simon Wilkins, head of Global Corporate Services at Galetti Corporate Real Estate, said in 2021.

“But now we’re bringing them back through several game-changing developments that combine work and play.”

In the years since, mixed-use developments have been popping up all over South Africa. These include Westown outside Durban, Greenwood Square in Emmarentia, and 2 on Tabak in Paarl.

Sandton Gautrain property