The iconic Good Hope Centre is set to go under the hammer in early 2026, following the City’s Mayoral Committee approval to release the site for redevelopment.

Once approved by Council, the property will be brought to market through a transparent and competitive public auction, to be conducted by the City-appointed auctioneer, Claremart.

The Economic Growth Directorate says the move aims to revitalise the precinct, while attracting multi-million rand investment, unlocking jobs, and growing the economy to benefit Cape Town residents.

MMC James Vos says this redevelopment will breathe new life into this part of the City, representing 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.’

Vos says the 2.4-hectare site is currently underutilised, but has 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.’

Vos says proceeds from the sale will support city-wide service delivery, while the redevelopment is projected to generate significant socio-economic benefits, including increased rates and utilities income and job opportunities.

‘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.’

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.

Details on the auction process will be communicated in due course, once finalised.