Commercial letting strong
2006-03-09
THE Western Cape leasing division of Investec Property group reported another successful year with vacancies in its portfolio under management at an all time low.
"While the total area of leases concluded during 2005 was stagnant at around 160 000sq m, the value of leases decreased from R235 million (2004) to R181 million (2005). This is indicative that the significant upswing in the commercial market is over, in that there are no longer any substantial vacancies to be let in the Western Cape," notes David Stoll of Investec Property, Cape Town.
"Looking to the future, provided the basic economic indicators remain stable, there is every reason to assume that the portfolio under management will sustain its current occupancy levels and accordingly, the letting performance should similarly remain impressive," says Stoll.
Source: Cape Business News - www.cbn.co.za
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