The Leasing Division of Spearhead Properties has this year seen an increased up take  in their property portfolio.  Today this controls 286,596 m2 valued at R1, 5 billion.  The portfolio is currently running with less than 5% vacancies, says a Spearhead’s leasing broker, Grant Silverman, and, in his view, is one of the most successful in the Greater Cape Town area.
 

Particularly noteworthy, he says, is the fact that in monetary terms they are now collecting 22% more than last year, i.e. an addition of at least R3,million per month.

Silverman said that perhaps the most satisfying aspect of the whole operation has been the increasing communication and mutual trust between Spearhead and some 400 Cape property brokers.

“They are all beginning to recognise,” he says, “that we give an exceptional service, providing them with all the necessary information and figures and helping them to draw up their leases in a satisfactory way.  They also recognise that the larger size and greater diversity of Spearhead’s portfolio now makes it possible to meet the demands of most new clients coming to us through them.”

This year, says Silverman, Spearhead has seen the biggest demands in the commercial and industrial sectors.  Retail, he says, has fared well for some time and Spearhead’s portfolio has been largely let, including Sable Square – the new retail outlet complex near Century City, now under construction, that will open in Spring this year.  This, says Silverman, is likely to be a star performer:  already Fabiani, Levi’s, Adidas, Lee Cooper and Rage have signed leases, and Phase 1 is now fully let.

Major leases recently signed elsewhere, says Silverman, have been with the Institute of Justice and Reconciliation, who have taken 445m2 in Spearhead’s newly, refurbished Wynberg Mews and with Cape Higher Education, who has signed for 665m2.

The going rate at Wynberg Mews now is close to R60 per m2 which, says Silverman, is highly competitive for central Wynberg – especially as it includes the right to parking bays at a mere R150 per bay per month.  Wynberg Mews’ big advantage, he says, is its close proximity to the local magistrate’s courts and this has led to its converting over the years from being mainly occupied by medical staff to having a court/legal orientation.  The building’s 7 354m2, says Silverman, is now 95% let.

The broker on both the above deals was John McMahon of Baker Street Properties.

Another good deal, says Silverman, has seen iafrica, the internet service provider, take 504m2 in Spearhead’s new Stanhope Bridge complex in Claremonth, thereby completing the leasing here.  All 4 577m2 of retail space in the new building is now occupied and 1 296m2 of the new offices is also let.  The broker here was George Manley of Millenium Properties.

Out at Paarl, Spearhead’s new Berg River Industrial Park that will have almost 40,000m2 of undercover space is beginning to attract attention as the R50 million upgrade goes ahead.  The industrial park, he says, will be fully secure with 24 hour security/access control and CCTV.

Broker Piet Pretorius of the David Newham Property Trust has introduced Vinco Steel  to the site and they have signed on for just over 1 000m2., while Plascem has taken

5 500m2.  A further 10 000m2 is under negotiation.  Silverman, says Spearhead provide allowances to assist with tenant installation on a pre-agreed basis.  He expects the complex to be 90% let by Christmas.

Darren Wilder, Chief Operations Officer of Spearhead, says “that improved service by his leasing consultants and ongoing upgrading of most premises in Spearhead’s portfolio had paid dividends and these were the two main factors behind the significant increase in rentals this year”

For further information contact Grant Silverman on 021 425 1000.