Real Estate Investor Magazine South Africa June 2013 | Page 48

SMART MOVES

BY ANGELIQUE REDMOND

What Do The Numbers Say?

T

About the commercial property market

here has been very little change in
the industrial property market in the
greater Cape Town area in the past 12
months according to Andy Beddow, a director
of Baker Street Properties. Beddow says, “The
market remains tenant driven with a slight
improvement in rentals. The average gross
rental for existing space has marginally grown
to R32.00/m from R30.00/m where it has
languished since 2009.

Survey results
“Our current records reflect an overall vacancy
of ± 611,500 m² in the greater Cape Town
area, 69% of which is in industrial buildings
over 1,000 m² in size (or 418,000 m²). (See
accompanying pie-chart)
“Development of new facilities for the larger
users, although limited, is being driven by
redundancy of existing space and a lack of
available modern A Gra