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SOCCER WORLD CUP CREATES DEMAND FOR SHORT TERM OFFICE ACCOMMODATION IN CAPE TOWN

The Soccer World Cup is already seeing a short term requirement for office accommodation in Cape Town from role players in this event – which may ultimately result in their taking up a more permanent tenure, says Marius Basson, Western Cape regional director for JHI, which handles the leasing and sale of commercial property as well as an extensive range of property management services.
 
"Locations in Greenpoint in the vicinity of the stadium, including vibrant De Waterkant, are the most popular in this regard. However in general, there is renewed interest in commercial property – predominantly office and retail space – and we are receiving a steady flow of enquiries."
 
He says a new trend which has emerged is toward lower rise buildings of say up to five storeys, in a secure and appealing office park environment as opposed to skyscrapers. "Today's young entrepreneurs and professionals prefer this kind of environment, including trendy, designer buildings with ample natural light. This is why modern buildings such as the well-positioned 'The Hudson' building in De Waterkant are sought after. In addition, women nowadays form a greater part of the workforce than previously and to many a safe, trendy and modern working environment – which may include retail – carries a great deal of weight. The success of Century City in Cape Town's Northern Suburbs is proof of this.
 
"Increasingly, safety plays an important role in businesses' choice of location with secure parking a key aspect – most probably even more critical than the area in which the property is located, as long as there is convenient access for employees," says Basson.
 
He says understandably, given the economic scenario, there's also a move towards smaller floor spaces of around 300 or 400sqm rather than the traditional 1000sqm floor space of former years.
 
"A further boost for Cape Town is the upgrade of the city's infrastructural developments such as the BRT (Bus Rapid Transport) routes, Cape Town International Airport, public roads and the Cape Town Station. The latter will add value to adjacent properties – affording investors an opportunity to increase the value of their property investment portfolios.
 
"With its world class V&A waterfront development and renowned Table Mountain, Cape Town will always be a popular tourist destination and increasingly so as the global spotlight falls on the Soccer World Cup. The BBC's decision to use Cape Town as a base during the World Cup is a fillip for the city with major spin-offs as a result of the huge exposure we will receive. Coupled with this is the ongoing good work – security and cleaning – being done by the City Improvement District.
 
"We are also hoping that the industrial sector may benefit in the future from possible revised Department of Trade and Industry policies towards Industrial Development Zones, which would then lead to increased investor incentives," says Basson.
 
Issued by Gaye de Villiers


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