CT's Woodstock poised for growth says JHI
Ideally located on the periphery of Cape Town's city centre and within easy reach of all major routes, Woodstock is well positioned to capitalise on its potential when the economy is in a more favourable growth phase, says Selwyn Sharon, leasing sales and investment broker for JHI property services group.
"Easily accessible off the N2 and well serviced by rail and road networks, the Woodstock/Salt River node just east of Cape Town's central city has seen property developers - bucking the recent trend to put development projects on hold - demonstrate confidence in the area. Woodstock has already seen the establishment of The Boulevard office park which fronts onto Eastern Boulevard - a successful project proving popular among major businesses in Cape Town, while the mixed-use development, Upper East Side, is going into its next phase of development.
"What we are seeing in this node are pockets of regeneration which are positive indicators for the future. For example, developments such as The Boulevard, The District and Fairweather House as well as the redevelopment of Buchanan Square augur well for the area. In addition, on the fringes of adjacent Observatory and not far from Groote Schuur Hospital, a huge new residential development is nearing completion which will provide student accommodation," he says.
The Stockyard
In a further new commercial development, 'The Stockyard' at 3 Ravenscraig Road in Woodstock - just one block from The Palms - Sharon, together with new colleague, leasing and sales broker Monique Creamer, has concluded a five-year lease on behalf of Graydot, a software development company currently engaged in the art of online real estate solutions, who have taken up 338m² of space.
Says Sharon: "This new development is on the edge of becoming the next IT/creative hub with almost 90% of the space already let to production, IT, decor and innovative type companies that have been astute enough to snap up this rare space. The complex offers double volume, bright units with plenty of natural light, and a trendy industrial look which is very much in vogue. The rentals are realistic and units are air-conditioned, most with their own kitchenette and ablutions as well as the advantage of all units being connected to a generator."
The Stockyard has 24-hour security as well as undercover parking available to tenants, and ample visitor parking. A coffee bar/restaurant on site will provide healthy, quality foods and snacks to the tenants and those in surrounding buildings.
In addition to this lease, Sharon also found a tenant to take over Graydot's former premises in Kloof Street, Gardens.
