A problem building in Goodwood finally has new owners. <\/p>\n\n\n\n
The property, at 10 Spencer Street which has been a problem and a sight for sore eyes for years, went up for auction on Tuesday 29 June, the City of Cape Town has confirmed.<\/p>\n\n\n\n
After due diligence was conducted on the property and obtaining the relevant Council approvals, the High Street Auction Company was duly mandated by the City to auction the Goodwood property.<\/p>\n\n\n\n
This auction was an opportunity for the public to purchase City-owned land that is not required for municipal purposes, via a mandated competitive bidding process. <\/p>\n\n\n\n
The City\u2019s mayco member for economic growth, James Vos, says the offer received from the highest bidder will undergo various compliance checks and the relevant City\u2019s delegated authority will decide on the acceptance of the offer and transfer of property.<\/p>\n\n\n\n
According to Vos, the highest bid received was R925 000. <\/p>\n\n\n\n
When the new owners can take up residency will be subject to the outcome of the City\u2019s delegated authority relating to the offer and approval of the transfer.<\/p>\n\n\n\n
It will also depend on when the registration of the transfer process is concluded in the Deeds Office. <\/p>\n\n\n\n
\u201cSpecific time frames cannot be provided,\u201d Vos said <\/p>\n\n\n\n
\u201cThe City\u2019s property auctions are advertised in the Weekend Argus<\/span> and Die Burger<\/span> newspapers before the auctions. The auctioneer advertised the properties on various websites and social media platforms as well and any information as to participation in the auctions can be sought from the auctioneer,\u201d Vos said. <\/p>\n\n\n\n \u201cThe revenue generated from these properties will be used for service delivery throughout the City,\u201d Vos said.<\/p>\n\n\n\n All bids received are subject to a 15-day business day acceptance period following the decision of the Immovable Property Adjudication Committee. <\/p>\n\n\n\n This means the results of the auction will be confirmed at a later stage once due legislative processes have been concluded.<\/p>\n","protected":false},"excerpt":{"rendered":" A problem building in Goodwood finally has new 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