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City to release landmark Good Hope Centre and other properties at upcoming auction

The upcoming auction of about 50 diverse City-owned properties across the metro, including the iconic Good Hope Centre, aims to unlock economic, social, and spatial value for our city, ultimately benefitting our residents. The auction will take place online and in person on Thursday, 26 February 2026.

Good Hope Centre: A landmark redevelopment opportunity Releasing the iconic Good Hope Centre precinct for redevelopment is a strategic move aimed at unlocking its immense economic potential, revitalising the broader precinct, and leveraging private-sector investment to boost job creation and economic growth to benefit 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. 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. <figure class="subtopic-fullsize-img"><img class="responsive" src="https://resource.capetown.gov.za/cityassets/Media%20Images%202/Good%20Hope%20Centr2e.jpg" alt="" /> </figure> Key verified development information for investor due diligence includes:<ul><li>Land extent: 2,4843 hectares, as per SG Diagram No. 6258/2001</li><li>Zoning: Mixed Use Subzone 2 (MU 2) and Transport 2 </li><li>Approved Development Rights: GLA of 8,038 m², as confirmed by the 2020 Zoning Map Correction Approval</li><li>Gross Building Area (GBA): 27,804 m², verified through digitised plans by an independent consultant</li></ul>These parameters provide a clear foundation for feasibility modelling and redevelopment planning. City-wide portfolio: ± 50 properties on auctionA wide range of opportunities across multiple investment categories and strategic growth areas will be available for sale and lease: • Residential sites Kraaifontein, Westridge, Atlantis, Durbanville, Goodwood, Eerste River, Coniston Park, Bridgetown, Athlone, Maitland and Vredehoek • Commercial sites Foreshore, City Centre, Mitchells Plain, Montague Gardens, Parow, Blue Downs, Century City, Bellville, Belhar and Goodwood • Industrial sites Atlantis, Epping, Khayelitsha and Kuils River In total, about 282 000m² 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<ul><li>All properties identified for auction have been thoroughly assessed and confirmed as not required for municipal purposes. </li><li>The revenue generated from the sale or lease of these properties is reinvested directly into service delivery across Cape Town, benefitting our residents.</li></ul> Driving investment and economic growth‘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. ‘This upcoming auction is a sterling opportunity for private-sector investment across the metro, with each site 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, we are building a city that is sustainable, inclusive, and full of promise, 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. 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,’ said Alderman Vos. About the auctionCity appointed service provider, Claremart Group, will oversee the process in full compliance with all legislative and governance requirements. To register for the auction or for more details, visit:<ul><li> <a href="http://www.claremart.com/" target="_blank">Claremart website</a></li><li>Email <a href="mailto:coctproperties@claremart.com" target="_blank">coctproperties@claremart.com</a></li><li>Call Rob Stefanutto on <a>083 556 6861</a> or <a>021 425 8822</a></li></ul> Caption 1: Good Hope Centre

2026-02-15T22:00:00Z

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