Russell says,”Slight increases in vacancies were recorded in Bellville where overall vacancies have moved from 6,2% last quarter to 6,8% today.  Also in the Cape Town CBD vacancies have crept up to 10,4% from 9,9% in the previous quarter, however, a noticeable change in the CBD figures has been seen in the ‘A’ grade sector, where vacancies have increased to 11,6% from 10,8% in the previous quarter.  This level of ‘A’ grade vacancy was last seen in 2003 when they reached 12%.

“In the other five nodes surveyed there was very little movement with overall vacancies in Rondebosch/Newlands, Century City, Claremont and the V&A Waterfront relatively unchanged, with a slight reduction from 4,8% to 4,3% in Pinelands.”

Russell adds, “One of the leasing opportunities to arise in this market is in the Nedbank/BOE Building located in the Clocktower Precinct of the V&A Waterfront, where a floor of 1,580m² is available in the premises leased by Safmarine.

“Designed by Louis Karol and completed in 2001, this property presents a rare opportunity for tenants looking for quality offices in this world renowned node. This precinct of the V&A Waterfront, which includes the Clocktower, is due to undergo a R500 million upgrade, which will undoubtedly attract the attention of potential new tenants.”