Property

Iconic Carlton Centre up for sale in South Africa – along with golf courses and shopping malls owned by the government

Caitlyn Hilliard-Lomas

 ·25 Aug 2026

State-owned company Transnet has announced its intention to dispose of 15 commercial properties it owns but no longer considers core assets.

These properties include the Carlton Centre, golf courses, shopping malls and other pieces of land.

Transnet bought the Carlton Centre from Anglo in 1999 for R33 million. Before the rise of the Leonardo in Sandton, it was the tallest building in South Africa, stretching 223 metres over 50 storeys.

Today, the Leonardo holds the title at 234 metres.

Over the years of decay and decline in the Joburg CBD, there were several promises to revamp and revitalise the building.

In 2018, Transnet moved its staff to a building in Midrand to enable the Carlton Centre to be revamped.

However, the renovations never happened, and Transnet announced it would try to sell the building for R900 million in 2023.

The sale of the Carlton Centre fell through after bidders could not produce evidence of funds to back their bids.

Transnet then planned to refurbish the centre itself, with the idea to convert it into affordable housing.

However, the state-owned company ran into its own financial problems, and the building, along with many of its other properties, are now considered non-core and being sold off.

The disposal process will follow a strict two-stage intergovernmental protocol, including a first Right of Refusal for the public sector over a 30-day window.

During this window, all national and provincial government departments, municipalities, State-Owned Companies (SOCs), and other public entities will have the first right of refusal to acquire, lease, or take transfer of the properties for public use.

They will have 30 days from the date of publication of the notice to submit a formal written expression of interest.

If no formal interest is expressed by any government department, SOC, or public entity within the designated 30-day period, Transnet will proceed to issue a public Request for Proposals (RFP) to the open market for interested private sector parties.

The 15 commercial properties listed represent high-value real estate holdings spread across South Africa, including:

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