Please note that you are using an outdated browser which is not compatible with some elements of the site. We strongly urge you to update to Edge for an optimal browsing experience.

Huge demand for Milnerton offices

09 Jul 2007

Cape Town's Century City is becoming an investment hot spot for buyers interested in the commercial units market. As investors clamour for commercial property greater demand for these properties is generating immense development in this area.

Even with increasing growth in areas such as Milnerton and Century City there is still a great demand for high quality new commercial accommodation. This trend is predominantly among local investors, as well as owner-occupiers, says Gil Ben-David, leasing and sales consultant for Pam Golding Commercial (PGC).

Century City is situated just off the N1 highway and home to Canal Walk. Ben-David says office accommodation for purchase is snapped up virtually as it becomes available.

Recent sales in the area by PGC include two sectional title units in the Century Square office block, comprising of a 76sqm office and a 53sqm unit, sold for R912k and R592 800 respectively.

Ben-David says that "these are primarily taken up within days of being made available for purchase, mainly by local investors - who then let them out at the going rate of approximately R91/R103 per square metre, thereby yielding a sound rental income.

He continues that "Century City is extremely sought after due to its convenient location - just 10 minutes from Cape Town's city centre and easily accessible to all major highways and particularly to those residing in the Western Seaboard and Northern Suburbs.

PGC currently has three office units available to lease at Century Square, comprising 53, 124 and 195sqm. At the adjacent Boulevard Place, where rentals are in the region of R108-R114 per sq m a unit comprising 280sqm is available to let.

At Northgate Island, located just off the N1 before Milnerton, brand new retail premises are now available to let, ranging in size from 150 to 400sqm, at a rental rate ranging from R136.80 to R153.90 per sq m.

Ben-David says "these quality premises are situated in Northgate Island in Section Street, an area comprising mainly those involved in the motor industry.

In another new development within Northgate, Northgate Business Park, which comprises 58 retail units with multi-use industrial space, a ground floor 200sqm sectional title unit has become available for re-sale, priced at R1.653m.

"While additional new developments to cater for the growing need for such commercial space are in the pipeline for these areas, we are constantly seeking new stock to make available to the marketplace" adds Ben-David.

Photo:A view of Century Square.

For more information contact 021 5572415 or 083 303 0933 or email gil.david@pamgolding.co.za .

Readers' Comments
Have a comment or question about this article? Email us now..

What's your home worth?
Want to know what the average home price is in your area? Visit PropertySPI and get the latest report on transfers and price movements in your street, suburb or sectional title scheme.

Property News
Click here for more property news articles or sign up now for our free news SMSs twice a day.

Need a blog?
Start your own blog with a free blog from 24.com.

Huge demand for Milnerton offices

Share

Top Articles

Latest properties for sale in South Africa

Cookie Notice