Owners of older office buildings in Century City compete with the new on price

As ongoing development in the thriving Century City hub in Cape Town’s Northern Suburbs continues to bring modern, new commercial stock onto the market, landlords and owners of older buildings constructed in the early 2000’s are aggressively competing for tenants by offering highly attractive rentals and generous tenant installations, says Ryan Joffe, principal of Ryan Joffe Properties.

An aerial view showing 1 Boundary Road in the foreground, directly adjacent to the Century City entrance off the N1.

“Office properties built in the early days of Century City now present an opportunity for owners to attract businesses who prioritise value for money, particularly those with a high staff quotient - requiring spacious offices, and who still want a prime location, good quality accommodation and easy access,” he says.

While new, AAA Grade office buildings are currently letting in the region of R140 to R150 per square metre, an A Grade property which has become available - and is ideally suited to a single occupier, can be let at an affordable R95 per square metre, with tenant fit-out included, in accordance with the lease term.

“A key value-add is the location at the prime address of 1 Boundary Road, which affords high exposure to passing traffic onto the N1 highway. Previously tenanted by Nashua, the property is quickly and easily accessed from the Century City entrance off the N1 and just one road away from Century Boulevard, which is the main road that takes traffic past the shopping centre. Being on a major, key route, public transport is also readily available for commuters travelling to the workplace from nearby and other suburbs,” he says.

Naming rights available

With a gross lettable area of 3234sqm and a total of 100 parking bays available at R600 per bay per month, the building is situated within a secure, gated park with access control and 24-hour security. The accommodation can be subdivided to a minimum of 750sqm, with naming rights available for a single occupier.

Says Joffe: ”With parking in short supply and at a premium, increasing traffic congestion in the city of Cape Town and its bustling CBD further endorse the growing popularity of Century City with its abundant parking and convenient access via the N1 to Northern Suburbs as well as commercial and industrial nodes such as Montagu Gardens and Paarden Eiland. Cape Town International Airport is also within easy reach.

“Furthermore, with a major new conference centre and hotel now planned for Century City as part of a R1 billion, mixed-use development in the Bridgeways precinct, the relevance of Century City as an exponentially increasing growth node cannot be underestimated. The success story of the suburb is also testament to the modern desire for a ‘live, work, play’ lifestyle, which enables people to enjoy proximity to a workplace in pleasing surrounds conducive to an effective and productive working environment as well as maximum usage of leisure hours as well.”

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 23 Feb 2018
      RE/MAX Property Associates’ Table View Office, which services property buyers and sellers along the Table Bay coastline and surrounds, has recently sold a home in Woodbridge Island for R11 million – the highest price paid for any home in the sought-after security complex.
    • 23 Feb 2018
      Choosing to invest in an overseas property can be daunting. But as more and more investors recognise the value of a diversified portfolio that includes property outside of their own country of residence, international property investment is growing in popularity.
    • 23 Feb 2018
      The positive change in South Africa’s political landscape is paving the way for an upswing in the local property market.
    • 22 Feb 2018
      An excellent credit score is one of the most priceless assets a potential home buyer can have. This tool has the power to secure favorable mortgage and refinancing rate, influencing everything from the size of the loan repayment to the interest rate on the home loan.
    • 22 Feb 2018
      What do you do if you love your home’s location and the area, but the home no longer fits your growing family’s needs? Do you stay and renovate your existing home or find a home that meets your developing criteria?
    • 22 Feb 2018
      While every owner wants to sell their property at the best possible price, overpricing a home can be the kiss of death for a sale.
    • 21 Feb 2018
      Given the hand they were dealt, government has performed a delicate balancing act which it is hoped will serve to reignite confidence in investment in South Africa, regain our global credibility and satisfy the credit ratings agencies, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
    • 21 Feb 2018
      The real estate mantra, ‘location, location, location’ remains a strong market influence regardless of the prevailing economy, with suburbs like Rondebosch enjoying the buffering benefit of being ideally situated.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us