The City of Cape Town says it has not accepted bids for any of the sites that went up for auction on Thursday, 26 February, including the much-publicised sale of the Good Hope Centre.

Immediately after the online auction concluded, reports emerged that the Good Hope Centre sold for R135 million and that the winning bid was placed by the Nigerian-born leader of the Spirit Revelation Ecclesia, Pastor John Anosike.

But the City has clarified that an audit is now underway to determine the validity of all the bids received, which is standard procedure. The City’s Media Manager confirmed to Smile FM there are currently no timeframes at the moment, and that due process is being followed.

Some of the questions that the City is seeking to answer with the audit include:

• The status of the bidders from a tax, ownership, risk and financial compliance point of view
• Whether Municipal Asset Transfer Regulation requirements been met, including whether the price achieved meets the valuation of the various sites

Regarding the Good Hope Centre in particular, should it be established that a qualifying bid has been received, this will be vetted in detail to ensure that the bidder complies fully with the requirements of the Offer To Purchase and the Development Facilitation Agreement.

All bids for the various sites that are successfully vetted will then be presented to the Immovable Property Adjudication Committee (IPAC), followed by City Council for final approval.

The City has previously said it envisages a major redevelopment of the precinct, which would include a mix of residential, commercial and retail use.