Major auction of city-owned land parcels in Cape Town scheduled for February

The City of Cape Town’s hopes the release of its land would grow the region’s economy and boost mixed use development. The release of the iconicGood Hope Centreprecinct for redevelopment is a strategic move aimed at unlocking its immense economic potential. It would also revitalise the broader precinct and leverage private-sector investment to boost job creation and economic growth to benefitCape Townresidents.

“By releasing this site for revitalisation and redevelopment, we are giving the private sector the opportunity to develop a vibrant mixed-use precinct. “Heritage elements, including the dome, are preserved through the conditions of sale, while the surrounding land can be transformed into multiple uses, unlocking significant economic and spatial value for the inner city,” said Alderman James Vos, Mayoral Committee Member for Economic Growth. Last December, the city announced that several significant properties would be included in a major auction of city-owned land parcels, scheduled for February 26.

It said approximately 50 opportunities, zoned for residential, commercial, industrial, community, and mixed-use purposes, will be made available for sale and lease. The full list will be accessible on the website of the city-appointed auctioneer, Claremart Group. Key verified development information for investor due diligence includes: These parameters provide a clear foundation for feasibility modelling andredevelopment planning.

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A wide range of opportunities across multiple investment categories and strategic growth areas will be available for sale and lease: In total, about 282 000m² of land will be released, thereby creating diverse entry points for developers with varying investment profiles, from mixed‑use precincts to industrial expansion and urban infill housing. All properties identified for auction are said to have been thoroughly assessed and confirmed as not required for municipal purposes.

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