Good Hope Centre
As part of the City’s strategy to leverage its economic assets in order to create an enabling economic environment and to facilitate job creation, various development options are being considered for the Good Hope Centre.
The City of Cape Town has proposed that the Good Hope Centre in the city’s CBD be used as a temporary or short-term film studio for three years, with a single tenant or combination of tenants from the film industry.
The decision to consider alternative uses stems from the fact that the repair cost for the facility is approximately R16 million. The land value is estimated at R145 million.
Long-term plans for the centre will take three to five years to develop. In the meantime, Cape Town’s film sector has seen a boom in film and related activities to the extent that all three of the city’s current film studios are fully booked for the 2015 and 2016 seasons.
The City was approached by a number of film companies to consider the temporary or short-term use of the Good Hope Centre as a film studio and has commenced with this process.
Current vendors have been given more than four months’ notice in order to look for alternative venues. The City has made every effort to ensure that key international events are not disrupted. There will also be consultation with affected communities. Once the lease/rental agreement has been finalised, the City will advertise its intent.
‘The City’s considered view is that the centre will have a far greater economic and job creation impact as a temporary film studio, as opposed to continued (significantly subsidised) community usage. Currently, it costs more than R5 million per annum to operate, while income is less than R3 million per annum. A number of other City facilities are available to fulfil the functions of the majority of activities that take place at the Good Hope Centre,’ said the City’s Mayoral Committee Member for Tourism, Events and Economic Development, Councillor Garreth Bloor.
