Sycom Property Fund’s Cape Town Foreshore SHG Building has secured a variety of new tenants including a flagship Bentley Motors Showroom, Regional Electrical Distributors (Reds) and Telkom Directory Services.

“On commencement of these leases, vacancies at the SHG building will reduce to below 10% and the remaining space is under negotiation,” said Dillon Swartz, Asset Manager for Sycom.

The effect of these deals will result in Sycom’s office portfolio vacancies reducing to around 3% and the Fund’s overall vacancy being a negligible 2,1%.

The three new strong tenants join Sonnenburg Hoffmann Galombik, the major tenant of this R163,3 million flagship office building.

Bentley Motors new flagship showroom of 250m2 on a 5-year lease will be located on the ground level, Telkom Directory Services will take up approximately 1,400m2 and Reds will occupy approximately 2,730m2 both on 5-year leases.