GREATER TYGERBERG PARTNERSHIP
Property values in the Bellville CBD , at the heart of the Cape Town northern suburbs , have risen by 52.5 % since 2010 , according to recent research conducted by The Greater Tygerberg Partnership and urban development consultancy , Our Future Cities . The figure reflects growing interest in Bellville and the broader Greater Tygerberg Area ( GTA ) by savvy investors seeking to make strong returns and capturing the rising tide of opportunity in the area . Investment values between 2015 and 2019 were consistent at over R600million per year .
With the Bellville Central Business District ( CBD ) at its heart , the GTA hosts major nodal industrial and commercial zones characterised by a wealth of health , education , logistics , manufacturing and retail operations . Development values across all sectors have been rising over the past ten years . In that time , the total value of approved building works in the area equates to R7.3 billion , arising from just over 9 000 development applications , covering a footprint of 990 286 square metres . Of that , R4.86 billion was invested in the last five years .
Significant recent developments include the R126million Vodacom Techno Centre building in Bellville and the R171million upgrade to the PetroSA head office in Parow . The R246 million upgrade of Parow Centre , part of a planned phased mixed-use transit-oriented development , the construction of the R157.1 million Biomedical Science Research Building and the R111 million new City of Cape Town Water and Sanitation Head Office in 2018 , are among several developments valued at over R50million , in addition to the University of the Western Cape ’ s R244million Community and Health Sciences Campus in Bellville CBD , and the R95million African Genomics Centre .
Devmark ’ s R3 billion Bellville Velodrome Galleria development and the University of Stellenbosch ’ s BellPark Hospital Precinct , valued at R250 million , are in planning phase in Tyger Valley , north of the Bellville CBD .
Industrial is a Growth Area
Industrial property accounted for a cumulated total of R1.13billion of developments recorded in the same time frame , covering 168 921 square metres . Stikland and Elsies River Industrial recorded the highest values , at R718.6 million and R165.6million respectively .
SA Real Estate Investor Magazine SEP 2021 7