W Cape Governance and property investment
A shout out to the Western Cape Government, who are delivering good and effective governance.
Vaccination rates, clean municipal audits, payment terms to suppliers (and then full dams) are creating a good atmosphere in industrial and retail property. Office space is still in demand in Westlake and Durbanville but generally there is an oversupply in this segment.
Negatives affecting industrial property are issues with PRASA and the Taxis (worker commuting) and the Ports (container movement) and hopefully they can be resolved through negotiation.
Industrial parks are still in demand due to their location, security and good precinct management. There is a shortage of large distribution centres over 8000m2 under roof as land densification is pushing the logistics industry north (N1) and westwards (N7)
Vacancy levels are dropping in the Malls especially those with food anchors and the sales season should raise retail performance levels. Specific food retailers in the 3500m2 to 5000m2 space are aggressively seeking sites to position convenience shopping centres.
Epping Industrial, Western Cape
off as an area in the 1950 along with the building of Athlone Power station in the 1960’s. The Epping name arises from England where in 1253 Henry III granted the right to hold weekly markets and a......Read More