Go north for reasonable property rentals

From local is lekker to hyper-localisation: Township consumer trends to watch this festive season

Mongezi Mtati

"The burgeoning growth of Cape Town's northern suburbs is evidenced not only by the major development seen in Tyger Valley and Century City, but also by the increasing residential expansion of the Durbanville and Milnerton areas towards the north,” comments Marius Basson, JHI director for the Western Cape. He was explaining the rationale for the relocation of a large segment of its Western Cape operation to Willowbridge Lifestyle Centre in Tyger Valley.

“Being a newly developed area providing an appealing work environment, the area is popular among young professionals and up and coming businesses - with Cape Town International Airport approximately 20-25 minutes away - and it has drawn an influx of businesses in the financial sector."

He says another key factor, which provides compelling reason for businesses to consider it as a location, is the abundance of parking at affordable rates, with secure, covered parking at a monthly rental of R400 - R600 compared to R1000 plus per month in the central city. Good office rentals are also available at rates from R68-R100 per square metre depending on the building.

“Investors are still evident in the marketplace - including owner-occupiers, seeking yields of 12-13 percent generally in buildings of approximately 4000-5000 sqm in a desirable location and comprising a mix of office and retail space, or business parks offering office space. Another interesting trend we are noting is the conversion of residences to commercial use," concludes Basson.