At present, the tallest building in Cape Town is the Metlife Centre on Coen Steytler Avenue at 150m and 27 floors, but it is about to be dethroned of this honour.

Development is about to begin on a new 3,500m2 property situated between Hans Strijdom Avenue and Mechau Street along Buitengracht Street with a very prominent and strategic location at the entrance to the city.

With a height of over 150 meters, it will be the tallest building in Cape Town. The allowable bulk is approximately 60,000 m², which is another record.

This new commercial real estate development will be the single biggest development in Cape Town since the establishment of the Victoria & Alfred Waterfront, according to Simon Grindrod of the City of Cape Town.

“The development will comprise 33,000 m² of offices, 14,500 m² of hotel accommodation and 2,500 m² of retail space. This is a significant show of confidence on the part of South Africa’s largest financial services company in Cape Town’s CBD,” says Grindrod.

Over R89 million was paid by the Old Mutual Property Group to the City of Cape Town in May 2007 for the purchase of the site, known as the Malgas site, and approval has now been gained for development to start.

One of the conditions of sale was that Old Mutual should prioritise the building of 564 residential units and a retail and commercial development of about 6,000m² on a 10 hectare property in Khayelitsha.

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