Approval has been granted for construction to start on a new inner-city hotel and mixed-use development in Cape Town. At 41 storeys, it is set to become the city’s second tallest skyscraper.
Situated on Bree Street, the Acsiopolis Cape Town will include 505 hotel rooms, 270 residential apartments and 4 000 square metres of retail space, according to the property developer and holding group Acsion.
Designed by Vivid Architects, whose previous projects include Century City Square and Crystal Towers in Cape Town, the property is aimed at the high-end luxury market. It will include event and conferencing facilities.
Vivid Architects and quantity surveyors MFP confirmed, on social media in the past week, that approval of the plans has been granted and construction is set to start soon.
“With great excitement, we have received building plan approval for the construction of @Acsiopolis Cape and we are set to break ground in the heart of Cape Town’s CBD. This iconic high-rise will soon emerge from one of the city’s most prominent urban addresses,” said Innus Jonker, Director of MFP, on LinkedIn.
According to MFP’s website, the development spans a total construction area of 66 000 square metres, making it one of the largest and most significant projects in the city’s history.
The developers
The hotel is part of the Acsion group’s foray into hospitality and the Western Cape markets.
“Over the past few years, the group diversified its property portfolio and operations by expanding into the hospitality and tourism sector. Acsiopolis@Sandton was the first venture and we are pleased to report that this venture is performing satisfactorily in light of the economic challenges facing South Africa,” Acsion said in its 2024 report.
Acsion’s first acquisition in the Western Cape was Franschhoek’s Hey Joe Brewing Company, which includes the 69-room @Franschhoek Hotel.
“In line with two of the key drivers of the Cape Town economy being tourism and business services, the Acsion group has continued its strategic expansion in the South African market with the acquisition of a building in the Cape Town CBD,” the company’s website states.
Ash Muller, Principal Broker for property consultancy Ask Ash, said the development is a feat “in a post-COVID property climate where significant new hotel developments have been few and far between”.
She said it is one of only a few “major hotel developments in the inner city in the past five years, which is a surprise considering Cape Town’s surging tourism demand”.
Also under construction in Bree Street is the Mama Shelter hotel and residence, which includes 127 rooms and 68 branded residences. Although its opening date has not yet been confirmed, it is expected to open later this year. Canopy by Hilton, a 154-room hotel, opened near Kloof Street earlier this year.
