“Being a newly developed area providing an appealing work environment, the area is popular among young professionals and up and coming businesses - with Cape Town International Airport approximately 20-25 minutes away - and it has drawn an influx of businesses in the financial sector."
He says another key factor, which provides compelling reason for businesses to consider it as a location, is the abundance of parking at affordable rates, with secure, covered parking at a monthly rental of R400 - R600 compared to R1000 plus per month in the central city. Good office rentals are also available at rates from R68-R100 per square metre depending on the building.
“Investors are still evident in the marketplace - including owner-occupiers, seeking yields of 12-13 percent generally in buildings of approximately 4000-5000 sqm in a desirable location and comprising a mix of office and retail space, or business parks offering office space. Another interesting trend we are noting is the conversion of residences to commercial use," concludes Basson.
