The City of Cape Town has announced an imminent auction of approximately 50 diverse properties, with the renowned Good Hope Centre set to headline the event scheduled for Thursday, 26 February 2026.
This significant initiative aims not only to generate financial returns but also to unlock profound economic, social, and spatial value within the metropolitan area, creating lasting benefits for its residents.
According to Alderman James Vos, the Mayoral Committee Member for Economic Growth, the decision to release the Good Hope Centre for redevelopment is a strategic move designed to tap into its substantial economic potential.
The precinct, rich in history and cultural significance, will be transformed into a vibrant mixed-use area underlined by conditions ensuring the preservation of its iconic heritage elements, particularly the majestic dome.
‘By releasing this site for revitalisation and redevelopment, we are giving the private sector the opportunity to develop a vibrant mixed-use precinct. The surrounding land can be transformed into multiple uses, which will unlock significant economic and spatial value for the inner city,’ Vos stated.
The properties available for auction encompass a wide spectrum of investment categories, including:
- Residential sites: Located in Kraaifontein, Westridge, Atlantis, Durbanville, Goodwood, Eerste River, Coniston Park, Bridgetown, Athlone, Maitland, and Vredehoek.
- Commercial sites: Situated in the Foreshore, City Centre, Mitchells Plain, Montague Gardens, Parow, Blue Downs, Century City, Bellville, Belhar, and Goodwood.
- Industrial sites: Encompassing Atlantis, Epping, Khayelitsha, and Kuils River.
In total, around 282,000 m² of land will be made available, presenting varied entry points for developers interested in projects ranging from mixed-use precincts to industrial expansion and urban infill housing.
All the properties identified for auction have been meticulously assessed and deemed surplus to municipal requirements. The revenue generated will directly contribute to enhanced service delivery, benefiting Cape Town’s residents.
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‘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 elaborated.
He emphasised that the auction is a unique opportunity for private-sector investment across the metro, meticulously structured to attract capable investors poised to deliver real benefits to 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,’ Vos asserted.
The auction format will ensure full transparency, allowing bidders to engage in a competitive process.
Overseen by city-appointed service provider Claremart Group, the auction will comply with all legislative and governance requirements, marking another significant step in the city’s strategy to maximise the value of municipal assets as part of a broader initiative that has successfully identified and disposed of properties in recent years.
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Picture: City of Cape Town
Source: City of Cape Town
