On Tender- Closing 12:00 on 15 June: Prime Retail with Offices | Residential Conversion Opportunity - Gross Annual Income (GAI): ±R1.17 million
The Old Mutual Building is a prominent five-storey commercial property ideally positioned at 29 Charlotte Maxeke Street, right in the heart of Bloemfontein’s central business district.
With a gross lettable area of ±3,055 m2, the property comprises fully let ground-floor retail space and office suites across the upper levels, offering exceptional flexibility for a wide range of tenants or potential redevelopment into residential or student accommodation.
Prime Location:
Perfectly located within walking distance of Middestad Mall, Bloem Plaza, Mimosa Mall, and Loch Logan Waterfront, the building benefits from excellent visibility and access to
public transport.
It is also in close proximity to leading educational institutions such as Boston College, Rosebank College, Damelin, the Central University of Technology (CUT), and the University of the Free State (UFS) — positioning it as an ideal site for student housing or mixed-use development.
The adjoining Hoffman Square provides access to several public and private transport facilities, ensuring convenience and high footfall for both tenants and visitors.
Key Features:
• 2 lifts
• Multiple access points
• Floors: Basement, Ground, Mezzanine, 1st – 4th
• Zoning supports business and mixed-use development, including residential/student accommodation conversions
• Erf size: ±640 m2
• Gross Lettable Area (GLA): ±3,055 m2
Current Configuration & Tenancy:
• Ground Floor: Three retail shops of which two are occupied by Levi’s, and Bohareng Finance, providing steady income and strong street exposure.
• Mezzanine & First Floors: Tenanted by Bolton College, offering established educational use.
• Second Floor: Partially occupied by a Hair Academy; balance of floor and upper levels vacant.
• Basement: Used for storage and houses the original coal boiler.
The second, third, and fourth floors each comprise 16 offices, two bathrooms, a kitchen, and balconies. These areas present an excellent value-add opportunity for redevelopment into modern offices, apartments, or student accommodation.
Investment Highlights:
• ±1,704 m2 of vacant space ready for conversion
• Potential to accommodate ±80–160 student beds
• Well-diversified income from retail and education tenants
• Strong repositioning and redevelopment potential
• Excellent CBD location surrounded by tertiary institutions and transport links
This landmark investment offers both immediate income and long-term development upside, making it ideal for developers, investors, or educational institutions seeking to capitalize on Bloemfontein’s growing student accommodation market.
Endless possibilities in the heart of the city!
Contact the Broker for a detailed Investor Pack.
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