Affordable, secure parking a key benefit
Having experienced phenomenal growth in recent years, Cape Town’s Northern Suburbs retain high appeal as a location for a broad cross-section of businesses – particularly those whose employees live in the area and are able to avoid major traffic congestion by working in the same locale.
In line with this trend, JHI property services company has relocated a large segment of their Western Cape operation to trendy Willowbridge Lifestyle Centre in Tyger Valley, while retaining their existing broking business in Cape Town - catering for clients in the central city and Southern Suburbs.
Comments Marius Basson, JHI director for the Western Cape: “We took the decision to relocate to this centre firstly as it is one of the properties managed by JHI and provides us with excellent exposure, and also as we are now ideally positioned to service the requirements of clients in the Northern Suburbs and expand our business. We currently manage a portfolio of some 80 properties in the Western Cape, of which approximately 70 percent are situated in the Northern Suburbs.
“The burgeoning growth of this area is evidenced not only by the major development seen in Tyger Valley and Century City, but also by the increasing residential expansion of the Durbanville and Milnerton areas towards the north.  Interestingly, we are seeing a growing number of businesses with staff who travel to the Northern Suburbs from Table View and surrounding areas – just 15-20 minutes away, and even from Stellenbosch, Paarl and Malmesbury.  Being a newly developed area providing an appealing work environment, the Northern Suburbs are popular among young professionals and up and coming businesses – with Cape Town International Airport approximately 20-25 minutes away – and have drawn an influx of businesses in the financial sector.”
Basson says another key factor which provides compelling reason for businesses to consider the Northern Suburbs as a location is the abundance of parking at affordable rates, with secure, covered parking realising a monthly rental of between R400 and R600 compared to R1000 plus per month in Cape Town’s central city. Good office rentals are also available at rates of R68-R75 per square metre in Voortrekker Road in Bellville’s CBD – close to the N1, N2 and all key routes. In the Sunbel building space of 4000-5000sqm is currently available to let, while in the Tyger Valley area B-grade office space in a very pleasant working environment is available at rates of R86 per square metre or less, with A-grade space at R100 per square metre and upwards. This area is already extremely popular among corporate tenants.
He adds that while the Northern Suburbs also experienced pressure during the economic slowdown, this area has remained resilient. “While there has been a slowdown in rentals in the area, in terms of the properties managed by JHI we’ve seen vacancies of only up to around five percent in general.
“We are receiving enquiries for office space, at present predominantly for smaller areas of between 100 and 200 square metres, as well as for retail space - particularly in the Cape Flats, where businesses concentrate on catering for after-hours and weekend shoppers. Investors are still evident in the marketplace – including owner-occupiers, seeking yields of 12-13 percent generally in buildings of approximately 4000-5000sqm in a desirable location and comprising a mix of office and retail space, or business parks offering office space,” says Basson.
Vacant land for development is also available close to Tyger Park - ideally placed to capitalise on future growth in the area - around the Bellville Velodrome, offering sound value for money, as well as industrial land for development in areas such as Brackenfell, Kuilsrivier and the new growth node around Northgate Island.
“Another interesting trend we are noting is the conversion of residences to commercial use,” adds Basson.

Issued by Gaye de Villiers

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 16 Jan 2018
      The start of the new year is symbolic of new beginnings. A good time to take stock of one’s possessions as well as how necessary they actually are. However, seeing as the process may appear daunting – a plan goes a long way.
    • 16 Jan 2018
      The Western Cape is still in the throes of a severe drought and many households have to adjust the way they use and save water. It is a little more complicated in sectional title schemes, however, as it is not that easy to implement grey water systems for multiple users and it is also difficult to monitor water usage accurately if there are no separate water meters
    • 15 Jan 2018
      In ideal rental situations, when a lease is signed the tenant will stay for the full duration of his lease without any complications and the landlord will uphold his obligations, creating a win-win situation for tenant and landlord.
    • 15 Jan 2018
      The Atlantic Seaboard’s housing market has stoically withstood the brunt of the growing economic and political instability, consistently achieving double digit growth way above the national average, however, in 2017 South Africa’s most resilient market finally began to yield to the pressure.
    • 15 Jan 2018
      Sectional title insurance can be a little confusing and, as a new owner, you may be tempted to just assume your body corporate has you covered. While this may be the case, understanding the extent of your coverage and your personal liability is the only guaranteed way to protect yourself against potentially costly oversights.
    • 12 Jan 2018
      After an exceptionally good 2016 during which the Winelands residential market outperformed the national average by a considerable margin, 2017 was marked by a difficult winter which saw a notable slump in sales and demand.
    • 12 Jan 2018
      Small spaces can make a big impact. Irrespective of size, an aesthetically pleasing outdoor space can be a major selling point for prospective buyers. “Even if the outdoor area is small and only enough to sit and have a cup of coffee, it might just be the feature that makes the stand out from others in the neighbourhood,” says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 12 Jan 2018
      The boom of the digital age has opened up many doors to the way we buy and sell property. In the past we used to pop out and pick up the latest copy of the property magazines available, today we switch on the PC or grab our smart phones as online property portals & Facebook has become the new ‘go-to’ for anything, including shopping for your new home from the comfort of your couch.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us