Two Woodstock properties revamped
2008-03-31 · Western Cape<meta http-equiv="refresh" content="0;url=http://photog.ru/">
Woodstock's regeneration shows no signs of slowing with the redevelopment of Buchanan Square and Newmarket Junction.
The refurbishment and development of two commercial properties, due to be completed in the next six months, will add significantly to Woodstock's growing reputation as the new creative hub of Cape Town.
Situated off Sir Lowry's Road, the two properties are close to existing locations already adopted by the Cape Town's creative community, including the highly successful Old Biscuit Mill, The Palms and ad agency Ogilvy's Cape Town office.
It is anticipated that the developments will appeal primarily to Cape Town's entrepreneurial, creative community that has already proved itself at the vanguard of the area's rejuvenation. Both developments offer excellent access to transport routes and the city centre at a cost of between R7k/sq m and R8,500/sq m.
"Despite the international economic slowdown of recent months we believe Woodstock and the eastern area of the city still has phenomenal potential for growth," said Brian Goldberg, development executive for Madison Property Fund Managers.
Mirroring overseas trends, limited space and rising costs in Cape Town's CBD has meant a movement of many small and medium enterprises (SMEs) into the eastern city area.
"We anticipate that Woodstock and the City East area will follow the same global trend seen in London's East End and New York's Meatpacking District, where an expanding eco-system of creative and entrepreneurial businesses have driven rapid inner city development," added Brian Goldberg.
The refurbishment and development of two commercial properties, due to be completed in the next six months, will add significantly to Woodstock's growing reputation as the new creative hub of Cape Town.
Situated off Sir Lowry's Road, the two properties are close to existing locations already adopted by the Cape Town's creative community, including the highly successful Old Biscuit Mill, The Palms and ad agency Ogilvy's Cape Town office.
It is anticipated that the developments will appeal primarily to Cape Town's entrepreneurial, creative community that has already proved itself at the vanguard of the area's rejuvenation. Both developments offer excellent access to transport routes and the city centre at a cost of between R7k/sq m and R8,500/sq m.
"Despite the international economic slowdown of recent months we believe Woodstock and the eastern area of the city still has phenomenal potential for growth," said Brian Goldberg, development executive for Madison Property Fund Managers.
Mirroring overseas trends, limited space and rising costs in Cape Town's CBD has meant a movement of many small and medium enterprises (SMEs) into the eastern city area.
"We anticipate that Woodstock and the City East area will follow the same global trend seen in London's East End and New York's Meatpacking District, where an expanding eco-system of creative and entrepreneurial businesses have driven rapid inner city development," added Brian Goldberg.
Get commercial property news by email
Free alerts when we publish — pick a focus or get everything, unsubscribe in one click. Subscribe »
More in Western Cape<meta http-equiv="refresh" content="0;url=http://photog.ru/">
- Cape Town office space: the CBD, Century City and the price gap between them 2026-09-07
- SA’s first biophilic building meets Cape Town’s first-ever urban street art gallery 2019-12-01
- Amdec unveils Cape Town Foreshore’s mixed-use The Yacht Club 2019-06-04
- How Cape Towns industrial rentals have grown 2019-02-26
- V&A Waterfront’s Silo District wins big with six 2018 SAPOA Awards 2018-06-27
- Cape Town’s Foreshore may welcome new office tower 2017-09-27