City’s last property auction for 2023 a great success

24 November 2023

The City’s last auction for 2023 proved to be an overwhelming success. The auction included several prime residential, commercial and industrial properties.

Among the sites were 10 kiosks in the sought-after St Georges Mall, Waterkant and Strand Street areas in the Cape Town city centre that went to a single bidder. A 50m² shop in the prime location of Jubilee Square in Simon's Town was also subject to a successful bid.

'The bidding for the Jubilee Square site proves that there remains a thriving market for retail offerings in Simon's Town, one of Cape Town's most popular neighbourhoods in the tourist season. I'm also looking forward to the new opportunities that will open up for micro-businesses at the kiosks in the Cape Town city centre,' said Alderman James Vos, the Mayoral Committee Member for Economic Growth.

Meanwhile, the prime beachfront commercial premises in Fish Hoek received an overwhelming, positive response from the market.

'I was pleased to see the restaurant's existing tenant take part in the auction. The tenant will be given notice, however, they will be able to trade at the premises during the crucial holiday season when tourists flock to our shores,' said Alderman Vos.

The auctioned properties also included residential parcels, with first time home buyers snapping up single residential sites, and a R2,3 million winning bid for a vacant property in Maynard Street, Gardens.

'Smart real estate transactions of immovable public assets underpin several elements of Cape Town's economic recovery by generating jobs through the building process, and revenue for municipal service delivery. The volumes and value of property disposals and leases handled by the Property Management Department speaks to our smart real estate approach of getting the best economic and social value out of our assets.

'In total, 119 207,76 m² of City property was auctioned off yesterday – a win for the final auction this year,' said Alderman Vos.

All the property sales and leases are subject to Council approval.

End

Published by:
City of Cape Town, Media Office