This is according to leading Cape Town property asset managers, Spire Property Management, who say that they have noticed an increased interest in office accommodation for this node over the last year.
Gregg Huntingford, CEO of Spire, says that according to the latest SAPOA Office Vacancy Survey for 2015, Claremont’s vacancies sit at 3.8% across the board, whilst Rondebosch/Newlands shows a vacancy rate of 5.5%.
“At the end of 2012, vacancy statistics for the Claremont/Rondebosch node were sitting at 20%. Claremont is now sitting at less than 1% for A grade and 5% for B grade – showing the rebounding strength of this node over the past few years.”
When compared to the CBD’s vacancy rate of 11.7%, one can clearly see that the SAPOA surveys’ conclusion that inner city vacancies are significantly higher than that of decentralised office nodes is an accurate one. People are increasingly looking to work in the decentralised nodes so that they can avoid the problem of ever-increasing traffic congestion to the central business district.
“But it is not just about avoiding the traffic,” says Sean Paul, Executive Director of Spire. “The trend to want to live, work and play in the same area is a growing one - and much as we have seen the appearance and popularity of mixed use buildings, mixed-use suburbs are a trend that is also on the rise.”
“Claremont, Rondebosch and Newlands are great suburbs to live in, offering beautiful, safe surroundings and well built homes. In addition to this there is an abundance of good schools very nearby as well as access to a myriad of leisure activities and facilities – all within a stone’s throw distance. All of this, coupled with the desirable A and B grade office spaces that are available at competitive rentals, with ample parking, make these areas increasingly popular with people who are seeking life balance.”
“There are a few vacancies available within the building that we occupy and manage - a popular and fantastically located office park called Tannery Park, which is situated at 21 – 23 Belmont Road in Rondebosch,” says Paul. “Spire also recently took over the management contract of the Sunclare building in Claremont – situated on the corner of Protea Road and Dreyer Street, just across the road from Cavendish Square. We have inherited a few office vacancies within this brilliantly located building and given the proven popularity of this area we are confident that these vacant offices in both Sunclare and Tannery Park will soon be fully let.”
