Going, going, online!

The City of Cape Town is preparing to launch innovative online auctions for an upcoming round of public sales of land not required for municipal purposes, via a mandated competitive bidding process. The online nature of the platform, which will be data-cost free to bidders, will make the auction more accessible to the public. Read more below:

Interested bidders are encouraged to register and bid online when the platform goes live on Wednesday, 30 June 2021. This is a unique opportunity that makes access to auctions simple and safe.

‘Smart real estate transactions of immovable public assets underpin so many elements of Cape Town’s economic recovery by generating jobs through construction and revenue for municipal service delivery.

‘The volumes and value of property disposals and leases handled by the Property Management Department speaks to our smart real estate approach of getting the best economic and social value out of our assets,’

‘The City’s recently appointed service provider, High Street Auctions, is currently the only company in South Africa with the technical capability to manage auctions in this way.

‘It is because of this technology that the City has been able to partner with High Street Auctions, who has just won the global auction marketing campaign of the year award for 2021, after going up against some of the biggest and most well-funded auction houses in the world,’ said Alderman James Vos, Mayco Member for Economic Opportunities and Asset Management.

Alderman James Vos speaking to an audience about the benefits of smart real estate to support economic activity

With the onset of the Covid-19 pandemic, the City has adapted its approach to keeping its public property pipeline flowing, while maximising the socio-economic return for the benefit of all residents.

Online auctions have become an integral part of the methodology used by auctioneers in the sale of movable and immovable assets. The key advantage of an online auction is that bidders can participate remotely from anywhere by simply using a smartphone to link to the auction.

Joff van Reenen, a founding Director and Lead Auctioneer of High Street Auctions, said the company is honoured to be partnering with the City of Cape Town on a venture so vital to the economic and social development of the region.

‘The efforts of the City’s Economic Opportunities and Asset Management portfolio in securing an auction platform that so decisively levels the playing field should be lauded. The City has worked tirelessly to ensure the public assets being sold are available to everyone. If bidders can’t travel to the auction venue, they can download the High Street app free of charge from Google Play or the App Store and bid free online. Data is also free if bidding is done from any of the numerous City Wi-Fi hotspots. Details of all the prime lots can be found at www.highstreetauctions.com,’ said van Reenan.

‘The resumption of the competitive disposal of surplus land remains a priority for the City, extracting the best value while being caring, consistent and confident of our processes.

‘Residents are encouraged to log on and share this technological leap to help ensure that the message reaches as many interested bidders as possible,’ said Alderman Vos.