Pam Golding Commercial sales and leasing consultant Nadia Razis sayssome inquiries are with the aim of redeveloping the properties, mainlyin the Somerset Road and Waterkant areas, in line with the changing faceof the CBD, where larger former office buildings are already being redevelopedand marketed.
CBD office space is still in demand as the area is now seen as a safe,desirable location.
"Boosted by the low interest rates, there is a general surge in interestamong investors seeking smaller commercial properties, either single ordouble-storey and in the region of about 300m² to 500m², andpriced under R1m." Razis says owner-occupier inquiries are on the rise,due partly to the rising number of entrepreneurs starting businesses.
Many are new local entrants to the commercial property market place,and some are UK and French investors who reside part of the year in CapeTown. Most popular areas are the CBD, Green Point and the southern suburbs.
Business Day
Publisher: Business Day
Source: Business Day
