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New Killarney Raceway lease to rev up investment, SMME and job opportunities<p>​<br></p><span><p>This agreement allows WPMC to plan and commence with investment in its infrastructure and events that will further boost the local economy and job opportunities. The lease was facilitated by the Property Management Department within the Economic Growth Directorate which oversees property transactions that help to unlock socio-economic opportunities for the benefit of Cape Town's communities and economic development.</p><p> <br></p><p>Killarney, which has been operating as a motorsport facility for 75 years, is the most used multi-purpose event venue in Cape Town with a pre-Covid total of 200 events per year, with 70 of those being charity events. It hosts a range of motor and motorcycling events, and also non-motorised sporting events such as cycling, duathlons and marathons.<br></p> <figure class="subtopic-fullsize-img"> <img src="" class="responsive" alt="" style="width:949px;" /> </figure>​​</span><span><p>Killarney contributes R357 million to Cape Town's economy while supporting an extensive industry and thousands of jobs in race manufacturing, trading, servicing, repairs, parts and accessories. It also draws international and domestic competitors, manufacturers, fans, and sponsors who come to the city for extended stays and investments.</p><p> <br></p><p>Over the years, I have had a front-row seat to some of the many wonderful events held at Killarney and personally witnessed its impact on the city and its people.<br></p> <figure class="subtopic-fullsize-img"> <img src="" class="responsive" alt="" style="width:802px;" /> </figure>​​</span><span><p>Killarney is a multi-purpose and inclusive facility that provides a space for competitors and spectators to enjoy thrills and family entertainment. Events range from motor to motorcycle racing, karting, drifting, drag racing, Robot Racing, regional, national and international championships. It recently opened a new spinning pitch, a large, safe facility that is available for booking by spinner clubs.</p><p> <br></p><p>The WPMC is a non-profit amateur sporting facility. Its operations model is to break even and retain enough income to maintain and improve the extensive facility. <br></p> <figure class="subtopic-fullsize-img"> <img src="" class="responsive" alt="" style="width:1040px;" /> </figure>​​</span><p>Motorsport at Killarney is a key component in making Cape Town Africa's event capital. This new lease, which will commence on 1 January 2023, lets WPMC continue to provide a secure venue, spectator thrills and family entertainment, to actively recruit motorsport events for the benefit of racing fans, the industry, Cape Town's economy and our tourist destination.</p><p> <br></p><p><strong>Caption 1:</strong> Spectators at the Killarney Motor Show.</p><p> <br></p><p><strong>Caption 2: </strong>An aerial view of the track at Killarney.</p><p> <br></p><p><strong>Caption 3:</strong> Alderman James Vos, Mayoral Committee Member for Economic Growth speaks to the media at the starting line of a race at the Killarney Motor Show about the economic spinoffs of a new lease agreement. <br></p><p><strong><br></strong></p><p><strong>End</strong><br></p>2022-12-21T22:00:00ZGP0|#1d539e44-7c8c-4646-887d-386dc1d95d70;L0|#01d539e44-7c8c-4646-887d-386dc1d95d70|City news;GTSet|#62efe227-07aa-45e7-944c-ceebacca891dGP0|#34f4df81-9990-40ab-8213-8383ea5bee8b;L0|#034f4df81-9990-40ab-8213-8383ea5bee8b|event;GTSet|#2e3de6c1-9951-4747-8f53-470629a399bb;GP0|#3b54139e-9a42-4cab-b3d2-1ba54b3d4815;L0|#03b54139e-9a42-4cab-b3d2-1ba54b3d4815|lease agreement;GP0|#36a1168d-a508-46b6-bc80-b2e9f2f35a0b;L0|#036a1168d-a508-46b6-bc80-b2e9f2f35a0b|Community and Society10

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