WeBuyCars is set to buy the Ticketpro Dome in Northgate, according to a report by MyBroadband
RX Venue Management, who manage Ticketpro Dome, announced yesterday that the Ticketpro Dome had been sold to new owners who do not operate in the event space.
Although RX Venue Management did not name the new owners, sources have said that WeBuyCars will take ownership of the venue in September 2021.
RX Africa MD Carol Weaving described the sale as a “devastating blow for the exhibitions, events, and entertainment industry”.
Weaving said the ban on public gatherings meant that the Ticketpro Dome could not host events since March 2020.
“Ticketpro Dome has been home to many international concerts and events in South Africa, and this will undoubtedly leave a huge void,” she said.
“Unfortunately, as we are only the managing company, we were unable to change the outcome of selling the venue due to force majeure.”
The Sasol Pension Fund was the owner of the Ticketpro Dome.
It is not yet clear what WeBuyCars will use the Ticketpro Dome for, but it may be used as a new vehicle supermarket.
The company has vehicle supermarkets in Cape Town, Durban, Midstream, and Johannesburg – and is looking to expand.
Another three vehicle supermarkets are planned for Gauteng, the Western Cape, and the Eastern Cape within the next 18 months, the company announced recently.
This acquisition of the Ticketpro Dome follows a deal where Transaction Capital increased its ownership in WeBuyCars from 49.9% to 74.9%.
The remaining 25.1% of the shares in WeBuyCars is held by the family trusts of the founding shareholders, Faan and Dirk van der Walt.
TopAuto contacted WeBuyCars for comment, but the company said it would not be providing a statement at this time.