Wilder has announced that 72% of Knowledge Park II, the 6 530m2 extension to Spearhead’s Knowledge Park offices at Century City, has been let and this, he said, is symptomatic of the whole leasing scene in Cape Town today.

At the R230 million A-Grade flagship Convention Tower on the Foreshore, due for completion in late 2007, 21% of the space has already been signed for and there have been enquiries for over 15 000m2. 

“The large number of enquiries we have received to date indicates we have a real winner here,” said Wilder.

At Platinum Park II in Montague Gardens, said Wilder, 50% of the available 2 170m2 in Phase Two has been taken up and he believes that the design formula to which Spearhead has worked on Phase One is now recognised and admired.  It should, he says, be fully let by December 2006.

At Sable Square, Spearhead’s 15 000m2 new outlet retail village near Century City, 70% of the 15 00m2 available for letting in Phase One has now been taken up and at Spearhead’s 36 000m2 Berg River Industrial Park near Paarl, now being upgraded for immediate occupation, 6 552m2 of tenant space was signed for before Spearhead took over the building and a further 4 500 m2 is currently under negotiation.

“Business confidence,” said Wilder, “continues to be high and vacancies are at low levels.  Cape Town could in certain sectors (e.g. residential) now face an oversupply situation, but very few of Spearhead’s new properties are affected by this and all have been well timed to take advantage of the rising demand for better space, particularly in the office, retail and industrial sectors.”