Protesters gathered outside the Good Hope Centre today to picket against the City’s auction of 50+ municipal properties.
Image: Armand Hough / Independent Newspapers
While bids were received for all 53 municipal properties auctioned this week, including the iconic Good Hope Centre, the final sale prices and successful bidders have not yet been confirmed, as the process enters a mandatory legislative review phase, the City of Cape Town says.
The auction, held on Thursday, forms part of the City’s land release programme which it said is aimed at unlocking development and investment. However, officials said the outcome remains subject to approval by internal adjudication structures and, where required, the city council.
"A number of offers were received across all categories, including the Good Hope Centre. These bids are now subject to the post-auction review that the City must follow as part of the due legislative processes," the City said in a statement.
"All qualifying bids received will, in due course, be presented to the Immovable Property Adjudication Committee and, where applicable, council for final approval. This means the results of the auction, including the accepted offers and winning bidders, will be confirmed at a later stage once the due legislative processes have been concluded."
The City offered residential, commercial, and industrial properties across the metro, including sites in Mitchells Plain, Maitland, Goodwood, Kraaifontein, Somerset West, Durbanville, Atlantis, Delft, and Parow.
Officials said bids were received for all residential-zoned properties and commercial and industrial sites.
Mayoral Committee Member for Economic Growth, James Vos, said the initiative is intended to ensure underutilised municipal land contributes to economic development.
"Making land available for private sector development sets the standard for how we will put our properties to productive, purposeful use," Vos said.
He added that revenue generated from land sales would be reinvested in municipal services.
"The revenue generated from the sale or lease of these properties will be reinvested directly into service delivery across Cape Town. That is an important and immediate benefit for residents," he said.
Vos said the Good Hope Centre precinct, in particular, presents an opportunity for revitalisation through mixed-use development, including event spaces and commercial activity, while heritage protections remain in place.
The City confirmed that while land auctions remain part of its long-term strategy, planning for the next phase has not yet begun.
"The City has, for many years, auctioned City-owned property that is no longer required for municipal purposes as part of a structured land release programme. This approach will continue where appropriate," he said.
Claremart Group hosted the auction online after it had been changed from an in-person event. The property, which they said would be a “trophy platinum property in anyone’s portfolio”, was the last lot in a four-hour auction.
However the road leading up to the auction was marred by outrage over the sale of the landmark site.
The City was also hauled before the courts in a last ditch attempt to halt the sale.
Cape Times