Bids for the property open from 31 July, and final and binding offers close on 29 August. The sale is already drawing attention from local and international investors.
Root44 is a 5.1-hectare property located on the R44 between Stellenbosch and Somerset West, and is a well-known tourism market in the area, originally built to showcase the wares of surrounding wine farms.
The market is located on Audacia farm in Stellenbosch, a millionaire hotspot surrounded by sweeping wine estates, including the historic Rust en Vrede.
Its roots can be traced to big names such as billionaire banker Paul Harris, who co-owned the farm with farmer Trevor Strydom, the original backers of the market.
The site is now being brought to market by the original developers, facilitated by Galetti Corporate Real Estate.
According to John Jack, CEO of Galetti, the market is under pressure to source standout properties that appeal to both local and international investors, and Root44 has drawn a lot of attention from both.
“It has been both a wine emporium and a tourism market where locals and foreigners alike come to experience the best Stellenbosch has to offer from both a culinary and viticulture point of view.
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