Cape Town landmark going on sale

Cape Town is releasing the iconic Good Hope Centre and a portfolio of municipal properties for public auction to unlock private-sector investment, boost job creation, and stimulate economic growth.

The City of Cape Town recently announced that it would be releasing the iconic Good Hope Centre precinct for redevelopment.

This move is aimed at unlocking the site’s immense economic potential, revitalising the broader precinct, and leveraging private-sector investment to boost job creation and economic growth, benefiting Cape Town residents.

“By releasing this site for revitalisation and redevelopment, we are giving the private sector the opportunity to develop a vibrant mixed-use precinct,” said Economic Growth Mayoral Committee Member Alderman James Vos.

“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.”

According to the city, the Good Hope Centre precinct consists of the following –

• Land extent: 2,4843 hectares, as per SG Diagram No. 6258/2001
• Zoning: Mixed Use Subzone 2 (MU 2) and Transport 2
• Approved development rights: GLA of 8,038 m², as confirmed by the 2020 Zoning Map Correction Approval
• Gross building area: 27,804 m², verified through digitised plans by an independent consultant

This is not the only noteworthy property hitting the market. The City of Cape Town will also be making a wide range of opportunities across multiple investment categories and strategic growth areas available for sale and lease.

Residential sites include Kraaifontein, Westridge, Atlantis, Durbanville, Goodwood, Eerste River, Coniston Park, Bridgetown, Athlone, Maitland and Vredehoek.

Commercial sites becoming available include Foreshore, City Centre, Mitchells Plain, Montague Gardens, Parow, Blue Downs, Century City, Bellville, Belhar and Goodwood.

Several industrial sites, including Atlantis, Epping, Khayelitsha and Kuils River, will also be released for sale and lease.

In total, about 282,000 m² of land will be released, creating diverse entry points for developers with varying investment profiles, from mixed‑use precincts to industrial expansion and urban infill housing.

Why the city is releasing these properties

The city explained that all properties identified for auction have been thoroughly assessed and confirmed as not required for municipal purposes.

The revenue generated from the sale or lease of these properties is reinvested directly into service delivery across Cape Town, benefitting local residents.

“Cape Town is a city full of opportunity, and as custodians of its assets, it is the city’s responsibility to ensure that municipal land and buildings contribute to the city’s growth and the well-being of its residents,” Vos said.

He explained that this upcoming auction is a sterling opportunity for private-sector investment across the metro.

Each site is being carefully packaged to attract capable investors ready to deliver tangible benefits for communities and the broader economy.

“By continuing to unlock the potential of municipal land, transform dormant properties into economic catalysts, and create jobs and opportunities,” Vos said.

He added that they are building a sustainable, inclusive, and promising city, “a Cape Town where everyone can share in its growth and prosperity”.

“I firmly believe that our land portfolio must drive economic growth rather than sit idle, and this auction sets the standard for how we will put our properties to productive, purposeful use,” Vos said.

“To ensure full transparency, bidders will have the opportunity to compete via a public auction. This major land release initiative complements the broader pipeline of disposals successfully delivered over the past several years.”

The city has appointed service provider, Claremart Group, to oversee the process in full compliance with all legislative and governance requirements.