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Office properties located in the mixed-use node of Century City in the Western Cape are sought after due to the node’s innovative approach to urbanism and environmental sustainability.
This approach attracts savvy investors and occupiers alike looking for modern offices and other amenities.
“Century City continues to attract high-end corporate tenants wanting to relocate their businesses to a node that promotes the live, work and play environment which is an ever growing trend in the local market. “To this extend, the Century City node offers modern buildings, excellent retail facilities and a range of residential properties to choose from. “The node is centrally located between the CBD and the northern suburbs and added to this, it is a secure environment with good public transport infrastructure,” says Stephen van Zyl, Broll Commercial Broker in the Western Cape.
He says demand has also been from owner-occupiers looking for built-to-spec developments while medium and large corporates seek larger sized A-grade and P-grade office properties.
According to the Broll Century City Office Market Report gross achieved rentals are affordable at between R105/m² for B-grade, R145/m² to R160/m² for A-grade and between R175/m² and R180m² for P-grade space.
“We have excellent opportunities available for Western Cape occupiers that wish to move into the Century City node or current occupiers that wish to take advice on their renewal options within the precinct,” says Sean Berowsky, Head of Broking for Broll Property Group.
Broll successfully concluded nearly 30,000m² of office leasing over the past two years with the 18,000m² Absa HQ and Discovery’s new HQ which is currently being built and will be ready for occupation in mid-2018, points out Berowsky.
Van Zyl says parking in Century City is also affordable when compared to the Cape Town CBD, Woodstock, Foreshore and Claremont. Basement parking bays are priced at around R850/bay/month to R1,100/bay/month while shadenet and open bays are marketed at R500/bay/month to R650/bay/month. Other parking options proving quite popular are Century City’s four e-parking facilities, offered at R450/bay/month situated within easy reach of the MiCiTi bus stops.
“Century City will continue to go from strength to strength and this is evident in the space take up from large corporates who have recently relocated to the precinct,” adds Van Zyl.