V&A Waterfront up for sale

05 Jun, 2006

State transport utility Transnet and associated unitholders are to sell at least 74 per cent of their stake in the prestigious Victoria & Alfred Waterfront as part of a strategy to dispose of non-core assets and free up cash for a R64 billion infrastructure investment programme. Companies considering buying into the property have until 21 July to register their interest. Only offers for a minimum stake of 25 per cent will be considered, with preference going to a single buyer. Following a regeneration project in the early 1990s the V&A Waterfront has become one of the countrys prime tourist attractions, drawing up to 22 million visitors a year. Dating back to 1860, it offers a combination of residential and commercial property. For information see V&A Waterfront website www.waterfront.co.za (See also Waterfront in the Cape Town city guide).