{"id":44654,"date":"2024-10-08T10:08:31","date_gmt":"2024-10-08T08:08:31","guid":{"rendered":"https:\/\/novanews.co.za\/peoplespost\/second-auction-of-galley-restaurant-lease-secures-r350-000-bid-20241008\/"},"modified":"2025-03-19T23:01:22","modified_gmt":"2025-03-19T21:01:22","slug":"second-auction-of-galley-restaurant-lease-secures-r350-000-bid-20241008","status":"publish","type":"post","link":"https:\/\/novanews.co.za\/peoplespost\/second-auction-of-galley-restaurant-lease-secures-r350-000-bid-20241008\/","title":{"rendered":"Second auction of Galley Restaurant lease secures R350 000 bid"},"content":{"rendered":"\n

The Galley Restaurant lease, situated at a 1 896 m\u00b2 prime location on Fish Hoek Beach, went to the highest bid of R350 000 on Wednesday 2 October. <\/p>\n\n\n\n

It was the second auction for the prime lease opportunity after a previous lease bid in November last year was deemed \u201cnon responsive<\/a> <\/p>\n\n\n\n

At the time, restaurant staff and owners of the Galley Restaurant protested against the lease going up for auction. <\/p>\n\n\n\n

In a statement commenting on the auction of 45 City properties including the Fish Hoek lease last week, Mayco member for economic growth James Vos said due process would be followed to finalise the results. <\/p>\n\n\n\n

\u201cThis auction is a key part of the City\u2019s strategy to release land for private sector development. I believe no government should be a land bank, so we continually look for innovative ways to open land for new investment,\u201d he said. \u201cOur previous auctions led to many successful transactions, and it\u2019s an exciting way to spark further development across the City.\u201d<\/p>\n\n\n\n

ALSO READ | Galley Restaurant lease on Fish Hoek beach returns to auction next month<\/a><\/strong><\/p>\n\n\n\n

Vos added that money generated from the auctions would be reinvested into service delivery. \u201cThis approach maximises underused land, driving long-term economic sustainability,\u201d he commented.<\/p>\n\n\n\n

20-year lease<\/h3>\n\n\n\n

On Wednesday\u2019s live and online auction, the Fish Hoek restaurant site was advertised as a 20-year lease auction with the option of a 10-year lease renewal. <\/p>\n\n\n\n

Before bidding started, a quick catalogue correction was made to correct the initial advertised erf size from 1 750 m\u00b2 to 1 896 m\u00b2, which consisted of a lease area of 1 294 m\u00b2, a play area of 455 m\u00b2 and a seating area of 147 m\u00b2.<\/p>\n\n\n\n

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<\/p>\n

The Galley Restaurant lease went to the highest bidder last week. PHOTO: Supplied<\/div>\n
<\/span><\/span><\/div>\n<\/div>\n<\/div>\n\n\n\n

Bidders were reminded that the property lease area was specifically meant for tourism-related and restaurant purposes, with an expected occupation date of Tuesday 1 April next year.<\/p>\n\n\n\n

ALSO READ | \u2018There was an injustice\u2019: Uncertain future for Galley restaurant in Fish Hoek after auction<\/a><\/strong><\/p>\n\n\n\n

As the opening bid of R100 000 started, current leasers of the property bid on the lease until R150 000. Minutes later, the highest bid of R350 000 was received. <\/p>\n\n\n\n

According to the City, all bids received are subject to a 15 business-day acceptance period following the decision of the Immovable Property Adjudication Committee. <\/p>\n\n\n\n

A total of 45 properties went on auction for sale and leasing last week. <\/p>\n\n\n\n

\u201cNot only will the sale and leasing of these properties generate revenue for the City to be used for the delivery of services, but the development and use of the sites will boost employment and Cape Town\u2019s economy,\u201d said Vos. <\/p>\n","protected":false},"excerpt":{"rendered":"

The Galley Restaurant lease, situated at a 1 896 m\u00b2 prime location on Fish Hoek Beach, went to the highest bid of R350 000 on Wednesday 2 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