Cape Town Industry on upward trend.
Category Industrial
CAPE TOWN INDUSTRIAL MARKET CONTINUES ON A UPWARD TREND. The Cape Town property market has seen a continued increase in industrial activity as of the beginning of the 1st quarter of 2015. There has been very little change in vacancy rates for premises for the categories <500m2 and 500m2-1000m2. In areas where new developments have taken place, notably Montague Gardens and Airport, areas of over 1000m2 have increased. New industrial nodes such as Rivergate, and Brackengate are showing signs of good activity. A significant increase in building and development activity has been seen throughout the greater Cape Town area compared to previous years. Average gross rental: increase to R44m2 (up from R42 m2 since March 2015). Average gross rental for new developments: consistent at R60 m2 Escalation rates: consistent at 8% Overall Vacancy rate: reduction of 2,76% from 386 652 m2 to 376 256 m2
Author: SA Commercial Property News
