Property opportunities available for local business, community and residential
26 June 2023
Soon the public, including residents, non-profit organisations and businesses, will have the opportunity to bid for City-owned immovable properties located in various areas. These properties have been identified for release via a mandated competitive auction process because they are not required for municipal purposes.
The City-owned properties that are being offered to the market by means of a public e-auction, which is open to all, presents exciting opportunities for individual persons, NGOs or businesses to purchase land to either develop their own homes, social facilities or residential and or business purposes. The properties have land use rights in place and are sold for that respective purpose.
The e-auction will be hosted by The High Street Auction Company on Thursday, 29 June 2023 at 12:00 online.
'The City's smart real estate approach to releasing City-owned property aims to get the best economic and social value out of its assets that are not required for municipal purposes. Having a live online and in-person auction makes the process more inclusive because bidders can also participate remotely from anywhere by simply using a smartphone to link to the auction,' said the City's Mayoral Committee Member for Economic Growth, Alderman James Vos.
What's on auction?
- 32 properties will be on offer, of which 28 are vacant and four are improved properties with houses built on the properties. They vary in size and zoning (including Community, Residential, Business Residential) which support the City's objectives to create integrated social, residential and economic developments across the city.
- The sites earmarked are for:
- Residential purposes, the majority is zoned Single Residential 1, suitable for single houses.
- 11 business vacant properties, presenting opportunities for commercial, industrial, and retail development across the city.
- Several community use zoned sites, these sites afford a bidding opportunity to non-profit organisations for their intended social and community use.
- The properties are located in various areas, including Durbanville, Gardens, Newlands, Goodwood, Mitchells Plain, Khayelitsha, Grassy Park, Muizenberg and more.
- A Green Point lease opportunity:
The City intends to lease the property located on a portion of Remainder Erf 1056 Green Point, situated in Bill Peters Drive. The property is improved with a gymnasium, tennis courts, a volleyball court, an outdoor training area, indoor and outdoor swimming pools as well as ancillary facilities and parking bays.
Releasing land to maximise economic and social value
'The disposal of these carefully considered properties augments the City's commitment to driving accelerated inclusive economic growth and prioritising development of underused land parcels via a competitive auction process that allows all interested parties to bid equitably for such opportunities.
'These sites that are going to auction must not be confused with the land parcels that the City is making available for affordable housing developments. The land parcels that the City designates for human settlement purposes are processed in terms of feasibility and packaging. I am working closely with the Human Settlements Department and Property Management Department to ensure that these sites are ready for disposal and development for the various types of housing schemes the City requires.
'When it comes to the public auctions we are now able to regularly schedule, the properties not required for municipal purposes therefore better serve the private sector for home building and or development opportunities. Enabling private ownership and economic opportunities remains a priority for the City, while simultaneously extracting the best value and being caring, consistent and confident of our processes. Residents are encouraged to log on and see what properties might be of interest to them and get ready to bid,' said Alderman Vos.
Visit: www.highstreetauctions.com
End
Published by:
City of Cape Town, Media Office
