Good Hope Centre SOLD for ‘bargain’ price
· The South African
The Good Hope Centre has been sold for R135 million after the City of Cape Town concluded a public auction of 53 properties this week, a move that has drawn sharp political criticism and raised questions about the future of the landmark venue.
Mayoral committee member for economic growth James Vos confirmed that the sale formed part of the City’s broader property disposal programme.
Visit asg-reflektory.pl for more information.
Unlock economic development opportunities
The municipality has previously said it intends to release underutilised assets to unlock economic development opportunities and reduce ongoing maintenance costs.
However, the transaction has been met with strong opposition from some political quarters.
Secretary-general of the GOOD party, Brett Herron, criticised the sale in a post on X, formerly known as Twitter.
‘Clarify his stance’
“These public assets belong to the people. It’s an absolute disgrace,” Herron wrote, describing the R135 million purchase price as a “bargain basement” figure and questioning whether the City was acting in the public interest.
He also called on Cape Town Mayor Geordin Hill-Lewis to clarify his stance on the matter.
“He must decide if he’s a public servant or a property trader,” Herron said.
The @Our_DA run @CityofCT just sold the iconic Good Hope Centre for R135 million. Part of the 53 properties they auctioned off today as the DA raids the family silver – except the silver doesn’t belong to them.
— Brett Herron 🇿🇦🍉 (@brettherron) February 26, 2026
It’s an absolute disgrace. These public assets belong to the people.… pic.twitter.com/57BneZfwno
The sale comes amid ongoing debate around land use, heritage preservation and housing demand in the city, with critics arguing that public assets should be leveraged to address social needs.
The City has yet to outline detailed plans for the future use of the Good Hope Centre under its new ownership.