New Development Plans for Cape Town’s Church Square

Church Square Cape Town CBD

An artist impression of future developments proposed for Church Square, Cape Town CBD. Image Credit – Urban Lime / Future Cape Town

 

Cape Town CBD has enjoyed significant attention from major developers, landlords and investors in recent years contributing to the Mother City’s status as most desirable central business district in South Africa. Following the successful rejuvenation of various precincts in the inner city, the historic Church Square has also undergone significant changes having transformed into an elegant Plaza. Continuing the overall trend on mixed-use developments as noted in much of our previous research, the ‘East city precinct’ is to follow suit with a focus on lifestyle and convenience.

A prime location in the Mother City

Church Square Cape Town CBD

A map of Church Square, Cape Town CBD. Image Credit – Google / Baker Street Properties

 

Church Square occupies a significant position in the broader context of Cape Town CBD. Consisting of approximately 2000m2, the precinct is within walking distance of Parliament, Company Gardens, De Groote Kerk Church and offices of major companies such as Woolworths, Bradlows and TownHouse Hotel. Other tenants in the area include technology companies, law firms and government offices. According to an analysis by Urban Lime and Future Cape Town, retail property is in high demand with a vacancy rate of only 3% for 2014/2015. The area appears to be popular with city residents too, as The Cape Town Central Improvement District (CCID) estimates that 21% of the city’s permanent residents reside in the East City. Mixed with various offices and commercial properties, Church Square has become the focus of vibrant public life that reflects the changing needs of a new generation of city residents.

Church Square Development Plans and Prospects

  • Ground floor retail properties are anticipated to receive a significant upgrade, with a focus on attracting premium eateries and coffee shops to leverage off existing retail demand.
  • General upgrades to offices and residential properties, with an anticipated benefit in terms of average value, rental yields and grading.
  • It is anticipated that the area will be the subject of more events, with the East City positioning itself as an area of design, entrepreneurship and creativity.

Operational advantage

Church Square offers an operational advantage to businesses who need to service clients frequently within the inner city. The precinct’s close proximity to parliament and the courts also makes it attractive to legal practitioners or consultants.

To learn more about newly renovated offices in Church Square, click on the image below:

Office Space Churc Square Cape Town

 

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