The City of Cape Town to release landmark Good Hope Centre and other properties at upcoming auction. The auction is of about 50 diverse City-owned properties across the metro, including the iconic Good Hope Centre.
It aims to unlock economic, social, and spatial value for the city, ultimately benefitting the residents. This auction will take place online and in person on Thursday, February 26, 2026.
Good Hope Centre is a landmark redevelopment opportunity. It is releasing the iconic Good Hope Centre precinct for redevelopment which is a strategic move and aims at unlocking its immense economic potential, revitalising the broader precinct, and leveraging private-sector investment to boost job creation and economic growth to benefit Cape Town residents.
Member of the Mayoral Committee for Economic Growth – Alderman James Vos said that by releasing the site for revitalisation and redevelopment, they are giving the private sector a great opportunity to develop a vibrant mixed-use precinct. It preserves heritage elements, including the dome, through the conditions of sale, while the surrounding land can be transformed into multiple uses, unlocking significant economic and spatial value for the inner city.
The City of Cape Town is releasing these properties as these are identified for auction and have been thoroughly assessed and confirmed as not required for municipal purposes. The revenue generated from the sale or lease of these properties is reinvested directly into service delivery across Cape Town, benefitting the residents.
Considering this, James Vos said that Cape Town is a city full of opportunity, and as custodians of its assets. It is the responsibility of the city to ensure that municipal land and buildings contribute to the city’s growth and the well-being of its residents.
This upcoming auction is a sterling opportunity for private-sector investment across the metro, with each site being carefully packaged to attract capable investors ready to deliver tangible benefits for communities and the broader economy. By continuing to unlock the potential of municipal land, it transforms dormant properties into economic catalysts, and create jobs and opportunities, they 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 further reaffirmed that he firmly believes that their land portfolio must drive economic growth rather than sit idle, and this auction sets the standard for how they will put the properties to productive, purposeful use. To ensure full transparency, bidders will have the opportunity to compete via a public auction. This major land release initiative complements the broader pipeline of disposals successfully delivered over the past several years.