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Friday, 5 July 2019

Proposed Sale of Council's Immovable Properties

In accordance with paragraph 11.5 of the Management of Certain of the City of Cape Town’s Immovable Property Policy (adopted by Council on 26 August 2010 C54/08/10) and chapter 2 of the Municipal Asset Transfer Regulations (2008), the City of Cape Town is considering the sale of the following City-owned properties. This is not a tender advert.

Information statement in terms of chapter 2, regulation 5 of the Municipal Asset Transfer Regulations (MATR) (R.878) (2008):
i. The valuation of the capital assets to be transferred or disposed and the method of valuation used to determine that valuation:The market valuation carried out by Property Management’s Valuations branch, using the comparable sales method, estimates the market value of the subject properties as shown in the table above, escalating at a market-related rate. 
ii. Reasons for the proposed transfer and disposal of the assets:The City internal service departments have confirmed that the properties are not required for the provision of the minimum level of basic municipal services. 
iii. Any expected benefits to the Municipality that may result from the transfer or sale:The City will be converting unused land into rateable properties and catalysing unused land for economic growth and higher intensity use.
iv. Any expected proceeds to be received by the Municipality resulting from the transfer or disposal:It is anticipated that the City will receive the proceeds in the form of a market-related sales price and future rates revenue.
v. Any expected gain or loss that will be realised or incurred by the Municipality arising from the transfer or disposal:The City will incur the normal costs related to the advertisements. The purchaser will be responsible for the transfer costs.

In terms of section 17 of the Local Government: Municipal Systems Act, Act 32 of 2000, the public and interested parties or groups are given the opportunity to submit comments, input or recommendations to the municipality from 6 July 2019 to 5 August 2019.
Further particulars in this regard may be inspected during normal weekday office hours (08:00-16:00) on the 13th Floor, Property Management, Civic Centre, 12 Hertzog Boulevard, Cape Town by appointment only.
Comments, input or recommendations on the proposed sale of the Council’s immovable properties may be submitted by email to the relevant City officials listed in the table above or by:
Post: Property Management, 13th Floor, Civic Centre, 12 Hertzog Boulevard, Cape Town, 8001

The City’s Public Participation Unit will assist people who cannot read or write, people living with disabilities and people from disadvantaged groups who are unable to submit written comments to have their objections recorded and submitted to the City. For general public participation and disadvantaged groups, contact Anathi Dywili on 021 400 9825 or
Direct enquiries to the relevant officials in the table above. 

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