New Cape Town property developments to watch out for in 2018

New property developments in Cape Town’s main commercial nodes continue the focus on lifestyle and mixed-use properties. Century City and the V&A Waterfront remain The Mother City’s two highest growing mixed-use nodes, positioning themselves with superior lifestyle amenities, convenience and security. In line with the City of Cape Town’s socio-economic development plan on densification, developers are focusing on mixed-use property solutions evident in a number of new sectional title apartment, office and retail offerings across the city.

With relatively low office vacancy rates – 6.5%, flattening office rentals returns – R148m2, and plentiful residential office conversions, the implications of new development on the Cape Town Property market could be impactful for the commercial sector. Additionally, limited water supply has implications on construction and overhead costs for landlords accommodating tenants through innovative water solutions.

1. Cape Town CBD

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  • Emira has already started with renovations of 80 Strand Street, set to be completed during 2017.
  • With great visibility and easy access to both the N1 and N2, The Ducat Towers are being designed to maximise both sea and mountain views. The contemporary 25-story building will have glazed featured corners and viewing balconies.
  • To be ready for occupation in the middle of 2020, 35 on Lower Long will be a signature building to invigorate Cape Town’s foreshore precinct. With priority being given to multiple entries and access points, the building will offer 13000 square meters of office space spread across 14 floors.
  • 117 on Strand is an exciting new mixed-use development taking place in De Waterkant. Offering tenants premium-grade office space, the building is located minutes away from Cape Town’s entertainment hub, as well as the V&A Waterfront.

2. Woodstock

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  • The Iron Works is a mixed-use development in Upper Woodstock, comprising one level of ground-floor retail, 3 levels of parking, and 5 levels of residential apartments. Completion is set for early 2018.
  • WEX1 is a 10-storey, mixed-use building to be developed opposite the Woodstock Exchange in Albert Road, with restaurants, shops and offices on the double-volume ground floor, two floors of parking and six floors of apartments. The transfer is set for 2019.
  • Located on the fringe of the CBD, The Aspeling offers a unique decentralised office solution with direct access to both the M5 and N2.

3. The Southern Suburbs

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  • The main commercial node of Cape Town’s Southern Suburbs has seen various new developments completed in recent years with a significant focus on residential and mixed-use properties, which include the likes of Montclare Place, The Claremont, The Citadel and Grove Exchange.
  • The State of Claremont Report published in 2016 suggests that an estimated six new developments are scheduled for completion in Claremont in the coming years.
  • New developments planned for Claremont include Werdmuller Centre, Draper on Main and Old Marshall House. Projects in the planning phase include the redevelopment of the existing Food Lover’s Market and Market Toyota sites.
  • Located in the busy node of Claremont, Draper on Main is an ‘A’ grade development that boasts glass facades, modern finishes as well as brilliant views.
  • Opposite Cavendish Square and Connect, 20 Vineyard Road is a new mixed-use development that will offer picturesque views of the mountain as well as Claremont itself.

4. Century City & The Northern Suburbs

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  • The recently completed Bridgeways Precinct in Century City has seen an excellent take-up in 2016, with new tenants including Absa Barclays and Thompson Reuters. Expect phase two of this sought-after new development precinct on the corner of Sable Road to be rolled out during 2017/2018, starting with The Axis.
  • Situated just off Durban Road, Danena Office Park is positioned in a central location with easy access via Old Oak Road, the N1 Highway as well as public transport.
  • With a focus on lifestyle, Quarry Hill is set in the popular Tyger Waterfront precinct. What used to be an abandoned quarry is now a prime commercial node – with the success of the development attributed to its secure, mixed-use lifestyle environment.
  • Sable Park is a new commercial development by Rabie Properties and is comprised of 16 300m2 of premium office space. Located in Century City with a 5-Star Green SA rating, this development is set to be the new regional office space for Discovery.

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