- For years, the Good Hope Centre was used as a community facility, but it closed its doors after the City, in 2016, announced its intention to lease it to a film studio.
- Deliberations on what to do with the property started afresh at the beginning of the year.
- Mayco member for assets and economic opportunities, James Vos, told News24 the leasing of the property would generate much needed revenue.
The once defunct Good Hope Centre is expected to be used again after the City of Cape Town signed a lease agreement with film company Film Afrika.
Deliberations on what to do with the property started afresh at the beginning of the year.
The City's Assets and Economics Opportunities portfolio committee tabled a report on how to best use the property.
"Council will not make a loss, but will gain a financial benefit in the form of market related lease rental, future rates and services. The securing of a lessee by dispensing of the public competitive process, the activity to be conducted on the proposed site will maximise the potential use and return on investment," the report said.
The property was leased to Cape Town Film Studios, who ran the Film Studio on the premises. The lease was entered into in March 2017 for a period of two years and 11 months without an option to renew.
According to the City, Cape Town Film Studios experienced a drastic downturn in its core business of securing filming events due to various microeconomic factors.
They notified the City of their intention to vacate the premises at the end of June 2018.
As a consequence of the uncertainty surrounding their future work prospects and the financial losses incurred during the period, Cape Town Film Studios applied to the City to cede their lease on the same terms and conditions to Film Afrika who had secured contracts projected to be beyond 2020.
The City had set the rental amount at R580 000 per month.
Mayoral committee member for assets and economic opportunities, James Vos, told News24 he was still outlining plans for the property.
"We are leasing it for film studio purposes... Extracting the best social and economic value from our strategic assets. To generate much needed revenue for the municipality from leasing, and optimising current use to benefit private sector especially high growth sectors such as filming and creative industries, to stimulate supply and demand for local services and goods, benefitting job creation."
For years, the complex was used as a community centre, but it closed its doors after the City, in 2016, announced its intention to lease it to a film studio.