The City of Cape Town’s Mayoral Committee has backed a proposal to grant in-principle approval for releasing the Good Hope Centre precinct for redevelopment, a move expected to attract major investment, create jobs and help revitalise the area’s economic potential.
Source: Supplied.
Once approved by Council, the City will formally bring the property to market through a transparent and competitive public auction anticipated for early 2026, to be conducted by the City-appointed auctioneer, Claremart.
“This redevelopment will breathe new life into a strategically located part of the inner city, protect our heritage, unlock investment, and generate jobs. We look forward to seeing this landmark transformed for the benefit of Cape Town’s residents and future generations,” said Mayoral Committee Member for Economic Growth Alderman James Vos.
A catalytic opportunity for Cape Town
The redevelopment of the Good Hope Centre precinct represents one of the most significant inner-city regeneration opportunities in Cape Town.
“The Good Hope Centre remains an important landmark with significant historical, architectural, and cultural value for Cape Town.
“Exploring a partnership with a capable private-sector developer provides a sustainable and forward-looking solution to unlocking this precinct’s economic potential.
“This approach allows us to safeguard the site’s legacy while enabling its revitalisation in a manner that delivers broad public benefit. It also ensures that scarce City resources can remain focused on essential service delivery. Revenue generated from the sale will be used for city-wide service delivery,” said Alderman Vos.
He added that the 2,4ha, underutilised mixed-use infill site offers significant potential for residential, commercial, retail, and events-related development that can uplift the surrounding community.
“This decision is responsible, future-focused, and aligned with our commitment to economic growth, urban regeneration, and job creation. We are unlocking the site’s full potential through private-sector investment while ensuring that heritage, public benefit, and economic opportunity remain central to its redevelopment,” said Alderman Vos.
Unlocking investment, creating jobs
The development proposition envisages unlocking substantial development rights, enabling a significant mixed-use yield across the precinct. This will be supported by major infrastructure upgrades, funded by the developer, which will benefit both the local community and the City.
The anticipated overall investment is expected to serve as a substantial capital injection into the area, positioning the redevelopment as a key urban-regeneration catalyst for the inner-city precinct.
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Proceeds from the sale will support city-wide service delivery, while the redevelopment is projected to generate significant socio-economic benefits, including:
- Increased municipal revenue from rates and utilities once the redeveloped precinct reaches its full valuation potential.
- Enhanced utilities income, driven by the intensified use and improved servicing of the precinct.
- Significant direct and indirect employment opportunities throughout the construction cycle, supporting livelihoods and stimulating local contractor participation.
- Ongoing job creation across the proposed events, commercial, and retail components once the development becomes operational.
- Robust economic output, with considerable direct, indirect, and induced benefits expected over both the construction phase and the initial operational years.
- Positive uplift in surrounding property values, reinforcing long-term municipal-revenue sustainability.
- Reduced commuting burdens and improved access to economic opportunities for nearby communities.
“This is the City doing exactly what we said we would do — unlock idle municipal assets so the private sector can invest, build, and create thousands of jobs. By releasing well-located property transparently and competitively, the City drives growth without burdening the ratepayer,’” said Alderman Vos.
Balancing heritage, development, and public benefit
The Good Hope Centre precinct includes the renowned domed Exhibition Hall designed by Italian architect Pier Luigi Nervi, three adjoining multi-purpose halls, and surface and basement parking.
The structure is a Grade 3B heritage resource, and the City will require the preservation and adaptive reuse of key architectural features – including the iconic dome – through conditions of sale.
“We are committed to ensuring that the site’s most important heritage features are preserved and celebrated. The conditions of sale, aligned with the Phase 1 Heritage Impact Assessment (HIA) guidelines and endorsed by the Impact Assessment Committee (IACom), will ensure that the redevelopment of the site is done in a respectful and contextually appropriate manner.
“The Good Hope Centre is a heritage asset, and we intend to preserve its iconic dome as a centrepiece. The conditions of sale will safeguard this heritage element, protect future community access — including affordable access where appropriate and guide the precinct’s revitalisation in a way that delivers meaningful and lasting value for surrounding communities and the City,” said Alderman Vos.
A strategic precinct with exceptional potential
Located within a designated Development Focus Area (DFA) in the Table Bay District Plan, the Good Hope Centre forms part of the City’s Consolidated Land Pipeline and Release Programme (IDP 2022–2027). The area is earmarked for spatial transformation, job creation, and high-impact urban regeneration.
Its proximity to the CBD, major transport corridors, and the District Six cultural and educational precinct positions the site for a vibrant mixed-use redevelopment.
Potential future uses include:
- Retail, commercial and entertainment
- Residential
- Structured underground parking
- A revived multi-use heritage venue within the domed hall
- Public plazas and improved pedestrian environments
Next steps
This item will be tabled at Council for consideration and decision. Should it be approved, the City’s Economic Growth Directorate will proceed with completing all administrative requirements ahead of the auction process.
Details on the auction process will be communicated in due course, once finalised.
