Commercial Property Trend: Cape Town CBD’s new financial district

Portside building in Cape Town

Cape Town’s Financial District

 

The northerly edge of the Cape Town city centre is fast becoming a prestigious new financial and legal district, with unique opportunities for offices to let in both new developments and refurbished buildings. With the likes of Bowman Gilfillan, Cliff Dekker Hofmeyer, Investec, First Rand and Edward Nathan Sonnenbergs being in the area, it is quite evidently drawing the attention of some of South Africa’s top firms and companies.

The desirability of Cape Town’s new financial district

Cape Town’s iconic wide boulevard of Bree Street is locally known for its vibrant atmosphere comprising of various trending shops and eateries offering prospective tenants a very pleasant working environment. The area is well serviced by public transport and offers central access to major routes in and out of Cape Town. The locally known “First Thursdays” transforms Bree Street into an open gallery of sorts, with most shops, bars and restaurants staying open until late complimented with unique exhibitions and pop-up eateries. Apart from commercial property, one will find that neighbouring residential and daily rental properties are also very popular as evidence of the area’s desirability.

Strong Demand for Residential Property in Cape Town CBD

New residential developments and upcoming hotels in Cape Town continue to make waves in property circles with eager investors keeping a watchful eye on South Africa’s most desirable central business district to list as a home address. The residential property market is thriving with many existing buildings being redeveloped alongside other new developments in Cape Town to accommodate the rising demand for residential property in the area. It is young working professionals in particular who are willing to pay the premium to not only live close to work, but to be part of the Mother City’s desirable downtown lifestyle.

Read more on this trend: Businesses make way for residential developments in Cape Town City Bowl.

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