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Galetti Corporate Real Estate Successfully Closes Major George Land Deal

26th October 2022

     

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Galetti Corporate Real Estate has successfully concluded the sale of 437 hectares of land on the Garden Route, just outside the town of George in a deal set to bring major activity to the area.

“Galetti was appointed by the liquidator of Montariva Investments & RMB in June 2022 to dispose of the asset formally known as Destiny Africa,” says Wesley Cowan, Associate Director at Galetti who oversaw the deal.

The property was taken to market via a Sealed Bid process that commenced in August 2022 and called for bid submissions by the end of September 2022.

Galetti received multiple bids and shortlisted three based on certain qualifying criteria. Speaking to the deal, Cowan shares that Galetti is very pleased with how quickly the transaction was concluded and the success of the sealed bid process. “The transaction will unlock one of the largest pieces of privately owned land on the South African Garden Route and we are extremely excited for what lies ahead,” he concludes

 

Edited by Creamer Media Reporter

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