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Cape Town Rezones Green Point Stadium
26 Jul 2012 by Bearded Wiseman in Business, Economics, Finance, Real Estate
This will be a decision that will please many: Cape Town’s city council has approved the proposal to rezone the Cape Town Stadium in Green Point for commercial activity.
The Cape Times reported this morning:
The total operating budget for the stadium was R56,7 million in the 2011/12 financial year, with the estimated income R12,1 million.
On Wednesday, the council mandated its executive director for tourism, events and marketing, Anton Groenewald, to ask the provincial Department of Environmental Affairs and Development Planning to amend the land use rights for the stadium, its forecourt and Green Point Park to allow for commercial activities. Also, Groenewald has to facilitate consultation with all affected and interested parties, including the Green Point Urban Park Forum.
The city’s business plan for the stadium, drafted by a business consultant, recommends that the city develop suites in the stadium, secure anchor tenants and let commercial space to retail outlets, conferences and offices, commercial parking and temporary hospitality facilities in the forecourt.
Meanwhile, the City is still in talks with the Western Province Rugby and Football Union about a possible move from Newlands to the Green Point venue.
Regarding the millions the City is said to have lost over hosting an exhibition match between Manchester United and Ajax Cape Town this past weekend, the Argus today quoted Brett Herron, the acting mayoral committee member for tourism, events and marketing, as saying that no price could be attached to the publicity received – the game’s true value was its global marketing of the city for tourism and events.
Judging by the recent attendance of the IRB Junior World Cup, and the Manchester United versus Ajax Cape Town game, Capetonians do enjoy going to their stadium.
Manchester United vs Ajax Cape Town 21 July 2012
[Source: Cape Times]
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Rob
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6000
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