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Aug 27, 2007:
Commercial property situated on the periphery of Cape Town's central city area is attracting increasing interest.
So says Selwyn Sharon, leasing and sales consultant for Pam Golding Commercial (PGC), who recently concluded the sale of 218 Sir Lowry Road, Woodstock, for R1,6m - paid in cash by an investor from Europe.
"This is situated within an area which is benefiting from Woodstock's ongoing rejuvenation, and which also forms part of Cape Town's City Improvement District (CID). As the take-up of commercial and residential accommodation in the city continues apace, areas such as this which are on the periphery of Cape Town's central hub are now considered up and coming locations."
"The sale of this property reaffirms increasing investor confidence in this particular area, which provides easy access to the N1 and N2 as well as the city centre. This resurgence, which also includes areas from the Castle through to Searle Street, will in time extend right along Victoria Road. Not only are good prices being achieved for commercial property in the area, rentals are also on the increase," says Sharon.
"Indicative of the demand for secure mixed-use living and working environments on the periphery of the city is the development of The Studios at the Old Castle Brewery on Beach Road in Woodstock. This project is currently under construction and will be ready for occupation in November 2007. There is great interest in this modern 'industrial loft' style development as it offers exceptional premises with an abundance of natural light," he adds.
The ground and first two floors comprise under cover parking bays with 24 hour security. The third floor incorporates studios with a minimum ceiling height of 3,6metres, while the fourth floor studios include two mezzanine levels with up to 5,8 metres of windows. Units of 47 to 250sq m are available to rent from R85/sq m (including VAT).
Two well-situated industrial premises in Woodstock and Salt River are also for sale, ranging in price between R14m and R34m (including VAT) and between 3 000 and 8 000sq m in size.
In the Foregate office park on the Foreshore, near the harbour gate entrance, two sectional title office spaces each comprising 200sq m are available for purchase. They are sold as one and priced at R3,648m (including VAT). The properties are adjacent and occupy both ground and first floor space, with parking for nine vehicles in total.
In Roeland Square, 72sq m of sectional title office space, including two parking bays, is on the market at R998k (including VAT). "This modern B grade space is income producing, with a tenant in place."
Image 1:Selwyn Sharon of Pam Golding Commercial seen outside 218 Sir Lowry Road, Woodstock.
Image 2:Construction of The Studios at the site of the Old Castle Brewery in Beach Road, Woodstock.
"This is situated within an area which is benefiting from Woodstock's ongoing rejuvenation, and which also forms part of Cape Town's City Improvement District (CID). As the take-up of commercial and residential accommodation in the city continues apace, areas such as this which are on the periphery of Cape Town's central hub are now considered up and coming locations." 
"Indicative of the demand for secure mixed-use living and working environments on the periphery of the city is the development of The Studios at the Old Castle Brewery on Beach Road in Woodstock. This project is currently under construction and will be ready for occupation in November 2007. There is great interest in this modern 'industrial loft' style development as it offers exceptional premises with an abundance of natural light," he adds.
Two well-situated industrial premises in Woodstock and Salt River are also for sale, ranging in price between R14m and R34m (including VAT) and between 3 000 and 8 000sq m in size. 