Council approves transactions of 36 City properties

 

The City Council has approved the sale and lease of 36 City-owned properties with a sale transaction value of just over R24,6 million and a lease transaction value of an estimated R1,7 million per annum. All of the properties have been thoroughly assessed and are not required for municipal purposes. Read more below:

 

‘The best economic and social value will be derived from the release of these properties for a range of uses, from industrial to community and private-sector led residential development, depending on the zoning. In this way, the City is supporting our economic development as smart real estate transactions create jobs through construction, support the socio-economic needs of our growing city, and generate revenue for municipal service delivery,’ said Alderman James Vos, Mayoral Committee Member for Economic Growth.

 

Among the transactions is a 13,0586-hectare site in Atlantis Industrial for the intended construction of a state-of-the-art cement grinding facility, with an annual capacity estimated at 1,3 million tons, entailing an investment of approximately R1,1 billion to manufacture products for various building applications.

 

‘The business will further support job opportunities in the area as it will have a workforce of more than 200 employees, with significant indirect employment opportunities in the logistics and related industries supporting the plant. It is envisaged that the facility will also be involved in the export of its products to countries in the Southern African Development Community region.

 

‘Furthering our green economy agenda, the relocation of an inner city-based going concern to Atlantis Industria, will enable a site to be developed for specialised storage, collection, recycling and refinery of liquid waste (mineral oil and waste water). The recycling processes contribute to the green, circular economy as the liquid waste is largely collected from the Cape Town Harbour, and is then treated and resold to other industries such as textile, laundry and fishing,’ said Alderman Vos.

 

Other properties include sites used for social care and community purposes and as such, the sale price has been significantly discounted.

 

The lease agreements approved by Council also include the extension of a lease for the Maitland Crematorium. This extended lease will allow time for much-needed renovation work to be undertaken on the site and for the vital service of cremations to continue.

 

‘The volumes and value of property disposals and leases handled by the Property Transactions Department speak to our smart real estate approach that centres economic growth. This year, we will continue with auctions of City-owned properties no longer required for municipal purposes, as well as lease opportunities, of select sites, with all types of permissible land use, as an innovative, compliant and business-friendly way to release land for the ultimate benefit of all Capetonians,’ said Alderman Vos.

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