In February, the iconic Good Hope Centre fetched R135 million during an auction. In March the City announced that they initiated a thorough audit following the recent property auction.
The City of Cape Town has said that a full report on conducted on the Good Hope Centre bidding process will be presented before Council after the highest bidder for the centre, Pastor John Anosike, spoke out seeking clarity on the City’s position.
In February, the historic Good Hope Centre fetched R135 million during an auction. In March, the City announced that it initiated a thorough audit following the recent property auction.
At the time, they said that they had not accepted any bids and that the verification of the bids would be subject to a comprehensive vetting process in the coming weeks.
It explained that this standard post-auction procedure is crucial to ascertain the bidders' qualifications, taking into account factors such as tax compliance, ownership rights, financial stability, and adherence to the Municipal Asset Transfer Regulation.
