New Look for Bellville Velodrome

City awards R3 billion tender to develop Bellville Velodrome Precinct

The City of Cape Town has awarded a R3 billion tender to establish retail, business, residential, hotel and conference facilities in the Bellville Velodrome precinct. The 11.5 ha property, which is due for an upgrade, is located in Bellville in Tyger Valley and includes the Velodrome, athletic stadium and the adjacent public parking area.

The tender was won through a competitive bidding process that lasted more than two years and eventually awarded to Devmet Property Developments.

Mansoor Mohamed, the City’s Executive Director for Economic, Social Development and Tourism, said: “Despite current global economic challenges, Cape Town has yet again proved to be an attractive investment destination. The City of Cape Town has put together a strategy of infrastructure-led, economic development which is starting to bear fruit.

The tender for the Velodrome was one of the biggest and most complex property transactions ever to be awarded on municipal land in Cape Town and it is the result of tremendous team work of several departments, led by the Property Management Department. This development will enhance Cape Town’s positioning as a globally competitive business and leisure destination.”

Besides an estimated R2.2 billion development that will take place on the property, Mohamed indicated that: “An additional R800 million is expected to accrue to the City of Cape Town in rates and service charges, proceeds on the disposal of land, enhancements to the Velodrome and athletic track, infrastructure levies and revenue sharing in event management.

Devmet Property Developments will also take over the management of the Velodrome and athletic stadium. An estimated 26 000 direct and indirect jobs will be created by this development”.

Devmet Property Developments submitted a development proposal that will enhance the area between the existing Tyger Valley Shopping Centre and the Parc Du Cap office park in terms of its design, form and urban fit. The design will provide a balanced blend of retail, business, residential, hotel and conference facilities.

In addition to the existing sporting facilities, the Velodrome will be remodelled to complement the conference facilities with the staging of concerts, shows, trade affairs and exhibitions. A high performance sport centre will be incorporated into the sport and athletic facilities and will be used to provide specialised training to athletes.

The development will be based on a spine-shaped ‘Galleria’, that will provide the circulation and connection to all the facilities. Parking with entrances at various levels and locations will be provided, connecting the hotel, conference and sporting facilities with the retail, business and residential components.

The development is planned for completion by 2014.

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