Stellenbosch market goes on sale after years-long zoning dispute
The bidding process kicks off on Thursday 31 July and will be facilitated by Galetti Corporate Real Estate.
In 2009, the Stellenbosch municipality granted approval to Daxcon Development Trust (DDT), the owners of the property, for the wine emporium, which was pitched as a showcase for winelands' products and food.
According to Galetti Corporate Real Estate, which is facilitating the sale, in 2012, the municipality approved a temporary five-year permit that allowed for a market on the property. This became the weekend Root44 Market.
After the market's permit lapsed in 2017, DDT attempted to formalise land rights for a permanent market clashed with the municipality's zoning strategy, which aimed to prevent unregulated commercial zone and urban sprawl in rural Stellenbosch.
The municipality argued that the property could either be used as a wine emporium or as a market, but not both, according to a 2021 Stellenbosch municipality statement.
This led to an ongoing land use dispute which ultimately led the owners to put the 5.1-hectare winelands property up for sale.
'The time has come for [...] someone with a clear vision, who is willing to continue to work with the municipality to find a resolution on the matter, to take over the property' said Dax Hunt, developer of Root44.
According to Hunt, 'the businesses that run from Route 44 will, of course, continue'.
But it is not clear whether or not the weekend market will continue after the sale, with Hunt explaining that it will be up to the new developer to continue with the project through further engagement with the municipality.
The market hosts more than 45 vendors, selling food and drinks, art, and fresh produce.
I most likely poured more into this property from an effort and love perspective than I should have as a focused investor, but that is my nature and my choice.
Stellenbosch municipality had not responded to questions from News24 by the time of publication.
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