One of Cape Town’s most recognisable landmarks, the Good Hope Centre, is set to go up for auction next week on Thursday, 26 February, as part of a major release of about 50 City-owned properties across the metro.
The auction, which will take place both online and in person, aims to unlock economic, social and spatial value for the city by attracting private-sector investment to transform the underutilised venue into a vibrant mixed-use precinct.
The Good Hope Centre was designed by renowned Italian engineer and architect Pier Luigi Nervi and inaugurated in 1977. At the time of its construction, the venue featured the world’s largest precast concrete cross vault, with its distinctive dome becoming an iconic feature of Cape Town’s skyline.
The centre was built during the apartheid era as a venue intended to be open to all races, addressing discrimination in the entertainment field and challenges faced by multiracial audiences.
Over nearly five decades, the Good Hope Centre has hosted a diverse array of events including international concerts, sports matches, expos and cultural performances. The 7 000-capacity venue was home to the Cape Town International Jazz Festival before the event moved to a larger convention centre, and has welcomed artists such as Iron Maiden, as well as hosting ice shows, pet expos, film shoots and international netball and table tennis competitions.
However, the centre now requires more than R300 million in repairs to remain viable, according to City documentation. This substantial maintenance cost has prompted the decision to release the property for redevelopment rather than continue municipal ownership.
The 2,4843-hectare site is zoned for Mixed Use Subzone 2 and Transport 2, with approved development rights for a gross lettable area of 8 038m² and a gross building area of 27 804m².
While an expected auction price has not been disclosed, the City has confirmed that heritage elements, including the iconic dome, are preserved through conditions of sale. The surrounding land can be transformed for multiple uses, unlocking significant economic and spatial value for the inner city.
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“By releasing this site for revitalisation and redevelopment, we are giving the private sector the opportunity to develop a vibrant mixed-use precinct,” said James Vos, Mayoral Committee Member for Economic Growth.
The City has packaged verified development information for investor due diligence, providing a clear foundation for feasibility modelling and redevelopment planning.
All properties identified for auction have been assessed and confirmed as not required for municipal purposes. Revenue generated from the sale or lease will be reinvested directly into service delivery across Cape Town.
The portfolio of about 50 properties spans residential, commercial and industrial sites across neighbourhoods including Atlantis, Durbanville, Goodwood, Bellville, Mitchells Plain, Khayelitsha and Vredehoek. In total, approximately 282 000m² of land will be released.
“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,” said Vos.
ALSO READ: Cape Town to auction 50 land parcels worth 282 000m² in major sale
