JHI leasing, sales and investment broker Selwyn Sharon who put the deal together comments: “To be utilised as offices, this is brand new, A grade space originally earmarked for retail use. The visibility of this 431sqm accommodation could not be better as it fronts onto the busy courtyard within Mandela Rhodes Place and is at the entrance to busy St Georges Mall on the Wale Street side. It’s also very convenient for employees as Mandela Rhodes Place is close to the station and public transport.”

Sharon says with a five-year lease in place a generous tenant allowance was provided. “There are advantages for both tenant and landlord – the former has a prime located space in one of Cape Town’s most prestigious buildings while the latter has a blue-chip tenant which is part of the Pam Golding Property group. The tenant allowance has enabled the accommodation to be customised with the optimal use of space to suit their requirements. This is a good example of how collaboration between a landlord and reputable tenant can provide a mutually beneficial contractual agreement.”

Sharon adds that from a medium to long term perspective Cape Town’s vibrant city centre continues to offer considerable investment potential. “While Cape Town has always been a popular destination, the Soccer World Cup has further boosted its status globally and created awareness among those who have never visited South Africa’s Mother City. In addition, the success of the city as a prime conference location, coupled with the confidence of the hospitality sector with investment in new hotels augurs well for Cape Town as a destination for high end business travellers and both domestic and international tourists. All of this translates into ongoing confidence in the area among the business sector,” he says.