Debbie McCallum, a Spearhead Leasing Consultant, has confirmed that an upswing in the Cape commercial market is taking place. Since the start of this year, she said, many of Spearhead’s clients have been showing far more optimism.

At Roeland Park, on the corners of de Villiers and Sterling Streets, Spearhead has signed a deal with McCarthys Auto Trimmers, who have taken 1 100m2 of space. The conclusion of this deal has lead to the building being fully let.

At Spearhead's Cashbank House, No 3 St George's Mall (one of Cape Town's most admired Art Deco buildings), African Bank has taken 379 m2 (the deal was concluded by Colin Harvey of Broll Property Group) and the Achievers School of Business Training College has signed for a similarly sized space.

"This will, I believe, prove to be an ideal spot for a commercial and business training operation," said McCallum. "It is a good address with excellent exposure and signage and is easily accessible to both train and bus transport nodes."

Spearhead, she added, is now negotiating with a prospective tenant to occupy an entire floor at Cashbank House.

McCallum added that another of Spearhead’s leasing successes is Spearhead Business Park in Montague Gardens which had been advertised by the company as "the best looking premises in the entire precinct". The first phase of 6 000m2, which includes retail and office space in addition to the mixed used space, is complete and fully let, while in the second phase of 4,600 m2 all building work is now finished and 60% of the space let. This phase consists entirely of double volume factory and warehouse type premises with roll-up shutter doors.

Those who have signed recently here include:

* Das Food Systems (500 m2);* McCarthy's Technical Training (300 m2); and

* Eureka Built In Cupboards (100 m2).

Darren Wilder, Spearhead’s Chief Operating Officer, said that take up at the new business park has been steady from the start of the project because the quality of the Dennis Fabian Berman design is widely acknowledged and the security (with perimeter walling, a single entrance point and closed circuit television) is top of the range. What is more, he said, the layout ensures that there is no shortage of parking space - a big advantage on a project of this kind.

"We expect the remaining 3,000 m2 of space to be taken up before the end of June," said Wilder. "After that we will move straight on to the third and final phase."

By then, Wilder predicts, prices will have risen a further 10% but at present space is still available in phase two from R32 to R45 per m2.

Spearhead's commitment to the area, added Wilder, is strong and they will be going ahead with a new R150 million business park in Ratanga Road. Anthony Wolpert, the Development Manager, will be giving further details soon.

For further information please contact Darren Wilder or Debbie McCallum on 021 425 1000.