National, wholly black owned property management company, Hermans & Roman Property Solutions, has secured the retail leasing contract for a new development by The University of Cape Town, aptly named Obz Square. Situated on Observatory Main Road, Obz Square stands out as a modern architectural building, which boasts a retail component and 880 self-catering student accommodation units.

Observatory is well known for student accommodation and has a vibrant entertainment scene.

“We have been inundated with requests from potential tenants interested in retail space within this complex, however securing the right tenant mix for the development will have a substantial influence on the retail offering of Obz Square,” says Michael Doveton, Hermans & Roman Leasing Manager.  “We envisage securing a grocery retailer as an anchor tenant that will serve the students within the complex, as well as the surrounding residential area. The development has secure undercover parking, dedicated to the retail component, which has been fundamental in the interest in this development.”

The tenant mix will include a coffee shop, health food retailer, take-aways, cell phone shop and postal services tenant. A restaurant with outside seating and piazza styled concept will have a positive influence on the quality urban space that this development promises to offer. “We envisage to incorporate well known national brands within the complex as Observatory is fast becoming popular from an accommodation perspective, due to urban regeneration and its central location,” says Michael.

John Critien, UCT Executive Director: Properties and Services, said: “UCT is pleased to have secured the services of Hermans & Roman Property Solutions. We are confident that they will add value to the property by securing the best retail clients, thus giving the Observatory area a much needed economic boost.”