Hammer to fall on last City auction for this financial year

One more week remains before the City’s final property auction of the 2023/2024 financial year comes to a close. The auction, in-person and online, will take place on Thursday 20 June 2024. Read more below:

The 14 properties under the hammer for sale and leasing are for both residential and business use and include prime sites in Cape Town CBD, Green Point, Atlantis Industrial, Century City, and Mitchells Plain.

‘Not 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’s economy,’ said Alderman James Vos, the Mayoral Committee Member for Economic Growth.

The auction will come just days after the City Council approved transactions for City properties across the metro to the value of almost R120 million. These transactions include in-principle approvals to sell identified properties and properties that have already been sold and are being transferred.

‘The properties cover a range of commercial, residential, social good, and educational uses. One site, for example, is an approximately 9,2325-hectare property zoned for industrial development while another is a high school in Mfuleni that was transferred to the Western Cape Provincial Government at a discounted price.

‘Smart real estate transactions of immovable public assets underpin several elements of Cape Town’s economic recovery by generating jobs through the building process, and revenue for municipal service delivery. The volumes and value of property disposals and leases handled by the Property Transactions Department speaks to our smart real estate approach of getting the best economic and social value out of our assets. In the new financial year we will continue with auctions as an innovative, compliant and business-friendly way to release land for private sector development,’ said Alderman Vos.

For more details about the upcoming auction, visit HighStreetAuctions.com or contact the Property Transactions Department on property.transactions@capetown.gov.za.


Issued by: Media Office, City of Cape Town