WeBuyCars, the biggest car-buying service in the country, is set to buy the Ticketpro Dome in Northgate.
RX Venue Management, who managed the Ticketpro Dome for 20 years, announced yesterday that the Ticketpro Dome had been sold to new owners who do not operate in the event space.
Although they could not name the new owners, it has now emerged that WeBuyCars will take ownership of the venue on 7 September 2021.
RX Africa MD Carol Weaving described the sale as a “devasting blow for the exhibitions, events, and entertainment industry”.
Weaving said the ban on public gatherings meant that the Ticketpro Dome has been unable to operate since March 2020. This has destroyed the events industry.
“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.”
It is currently unclear what WeBuyCars is planning to do with the Ticketpro Dome, but it may be used as a new vehicle supermarket.
The company already has vehicle supermarkets in Cape Town, Durban, Midstream, and Johannesburg.
WeBuyCars is planning three further vehicle supermarkets in the next 18 months in Gauteng, Western Cape, and Eastern Cape.
The Dome is well placed for a new supermarket in Gauteng as a Northgate location can serve a large part of Johannesburg and Midrand.
The acquisition of the Ticketpro Dome by WeBuyCars followed a deal where Transaction Capital increased its stake in WeBuyCars from 49.9% to 74.9%.
The remaining 25.1% of the shares in WeBuyCars will be held by the family trusts of the founding shareholders, Faan and Dirk van der Walt.
MyBroadband contacted WeBuyCars for comment, but the company said it would not be commenting at this time.