The City of Cape Town, yesterday, approved the offer by Virgin Active South Africa to lease a portion of Erf 1056-Re, situated in Bill Peters Drive, Green Point, for R3,7 million a month.
This is the sports footprint within the Green Point Common known as the Point Gym. This lease, which was auctioned in June, brings to fruition the Economic Growth Directorate’s goal to inject innovation into its property transactions. The revenue generated from the lease of this property has out-performed expectations and will be used for service delivery throughout the city.
The response to the auction, with some six different gymnasium/fitness centre-focussed businesses bidding, provided a competitive platform. All bidders were mindful of the prime location continuing to provide a complementary sports option to the already award-winning Green Point Urban Park and DHL Stadium Precinct.Get a R250 voucher towards an unforgettable dining experience at Scala Pasta Bar for only R99.
‘The lease of this facility is proof of the City’s commitment to driving accelerated inclusive economic growth and prioritising redevelopment of immovable property assets via a competitive auction process that allows all interested parties to bid equitably for such opportunities.
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