A major intergovernmental land exchange process was formally set in motion following the signing of a Power of Attorney between the City of Cape Town and the National Department of Public Works and Infrastructure.
The signing, led by Cape Town Mayoral Committee Member for Economic Growth James Vos and Minister of Public Works and Infrastructure Dean Macpherson, initiates an exchange agreement that will see ownership of key land parcels transferred between the City and National Government.
The transaction follows the adoption of recommendations by Council approving the transfer of City-owned land within the Parliamentary precinct to National Government. In return, the City will acquire properties of equal market value owned by the State, including portions of land within the Good Hope Centre precinct.
The total land extent to be transferred to the Department of Public Works and Infrastructure is approximately 7 846 square metres. Additional State-owned properties are also being considered as part of the transaction to support various municipal functions.
Vos said the agreement would allow the City to proceed with redevelopment plans linked to the Good Hope Centre precinct without incurring additional costs. “Because the properties exchanged are of equal market value, neither government entity is incurring an additional cost. Our land portfolio must drive economic growth rather than sit idle,” he said.
Minister Macpherson welcomed the transaction, describing it as a step forward in strengthening cooperation between national and local government. He said securing land within the Parliamentary precinct would allow the department to advance long-term plans to upgrade and develop the nationally significant site.
“By securing the land within the Parliamentary Precinct, the Department can move ahead with plans to enhance security, accessibility and overall functionality,” Macpherson said, adding that the department looked forward to continued collaboration with the City.
Alongside the land exchange agreement, Council has approved the release of the Good Hope Centre precinct for restoration and redevelopment.
Vos said the property would be sold through a transparent, competitive public auction overseen by the City-appointed auctioneer, Claremart, in full compliance with legislative and governance requirements. He said the revitalisation of the precinct presents an opportunity to unlock economic potential and stimulate activity in the central city.
The City is expected to provide further updates on the auction of the Good Hope Centre and related sites in due course.
