Centurion Building Sold

Nathan Brajtman of Diamond Properties sold the sectional title shops of the Centurion Building on the main road Sea point to a syndication of purchasers. The property comprises 969m2 of retail space and 11 parking bays. The purchase price was R5,700,000.00 which equates to a 10% yield. Brajtman said that Sea Point is seeing an upgrade of the main road with numerous new developments taking place and a revitalization of the Sea Point area. There is a close to zero vacancy of retail strip shopping on the main road.