GCP INCREASINGLY ACTIVE IN OFFICE LEASING AND SALES IN WESTERN CAPE

Posted On Monday, 07 July 2003 02:00 Published by
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Despite the difficult trading conditions experienced in the office property market, over the past few months Golding Commercial Properties (GCP) has been extremely active in office leasing and sales in the Western Cape, particularly in the small to medium size office sector, says CE Peter Golding.
Despite the difficult trading conditions experienced in the office property
market, over the past few months Golding Commercial Properties (GCP) has
been extremely active in office leasing and sales in the Western Cape,
particularly in the small to medium size office sector, says CE Peter
Golding.

"Factors contributing towards our increased activity in both sales and
leases are the upsurge in enquiries from offshore companies - including
international call centre operations establishing themselves in South
Africa - from countries which include America, Italy and Australia, and an
increasing number of entrepreneurs and businesses wishing to invest in their
own business premises, both in terms of stand-alone buildings and sectional
title units," he says.

"It's extremely positive to see the growing number of enquiries for office
space in the Cape Town CBD, as well as for the vibey Green Point and
Somerset Road area leading to the Waterfront. Undoubtedly the huge success
of the Waterfront and significant capital appreciation of property in the
entire Waterfront precinct is having a marked spin-off for nearby Green
Point." adds Golding. He says other areas seeing a high demand for office
space are Mouille Point and the Kloof Street area in Gardens.

Recent sales transactions by GCP broking agent, Nadia Razis, in the small to
medium size office sector include 723sqm comprising a luxury apartment and
offices at the Foundry in Green Point, a 94sqm unit purchased by a jewellery
wholesaler in Roeland Square on the outskirts of the Cape Town CBD, and a
71sqm unit purchased by a professional person in Westlake Square, Tokai.

Razis has also concluded a number of transactions for office leases in the
greater Cape Town metropolitan area.

These include 682sqm for Bikram's Yoga College in Wynberg; 166sqm at Century
City for Aero Corp - an American-based call centre for medical air rescue
which has identified Cape Town as a cost effective base with growth
potential; a new 600sqm conference venue called The Learning Centre at
Dreyersdal Farm Road in Bergvliet; various leases for an asset management
company, jewellery retail outlet, trade union and insurance company in the
Cape Town CBD; prestigious offices for a business consultancy in the Nautica
building at the V&A Waterfront; offices for a local fashion designer in
Green Point, as well as office space for a consulting firm in Newlands.

Says Razis: "In addition, I am currently negotiating with another American
call centre company regarding a major enquiry for office space in the three
major centres of South Africa, as well as upmarket premises in the Southern
Suburbs for an Italian company which provides hi-tech products for the
financial sector. Other enquiries for office space are from businesses as
diverse as a recycling operation, a proposed new banking operation, film
companies and others in the publishing business and computer industry."

In the Northern Suburbs GCP broking agent Volente Bertotti has concluded a
number of transactions for offices in Bellville and the Tyger Valley areas
for businesses which include a security company, financial services, funeral
fund administrators and an optical laboratory.

Says Bertotti: "There's a significant increase in sales in regard to owner
occupier sectional title units, as well as stand-alone buildings -
particularly in the region of R2.5 million. These investors are either
individual businesses or consortiums, such as groups of professional people.

"In this regard I am presently in negotiations with a number of businesses
which include printing companies, recruitment agencies, insurance brokers,
medical services and a training academy," she adds.

Ends

Issued by Gaye de Villiers
Tel: 021 6837788 or 083 325 1939
On behalf of Golding Commercial Properties

Caption:  Golding Commercial Properties broking agent Nadia Razis seen
against a backdrop of buildings in the vibey Green Point area, including the
Foundry - which is in the foreground.


Publisher: Golding Commercial Properties
Source: Gaye de Villiers

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