GRAHAM NORRIS

Property Editor

AN upswing in the Cape commercial market is taking place, says Debbie McCallum, Spearhead's leasing consultant. Since the start of this year, she said, many of Spearhead's clients had been showing far more optimism.

At Roeland Park, on the corners of de Villiers and Sterling Streets, Spearhead has signed a deal with McCarthy's Auto Trimmers, who have taken 1 100m2 of space.

The conclusion of this deal has led to the building being fully let. At Spearhead's Cashbank House, No 3 St George's Mall (one of Cape Town's most admired Art Deco buildings), African Bank has taken 379m2 in a deal concluded by Colin Harvey of Broll Property Group, and the Achievers School of Business Training College has signed for a similarly sized space.

"This will, I believe, prove to be an ideal spot for a commercial and business training operation," said McCallum. "It is a good address with excellent exposure and signage and close to both train and bus transport nodes." Spearhead, she added, was now negotiating with a prospective tenant to occupy an entire floor at Cashbank House.

McCallum added that another one of Spearhead's leasing success is Spearhead Business Park in Montague Gardens. The first phase of 6 000m2, which includes retail and office space in addition to the mixed used space, is complete and fully let, while in the second phase of 4 600m2 all building work is now finished and 60% of the space let.

This phase consists entirely of double volume factory and warehouse-type premises with roll-up shutter doors. Those who have signed here recently include Das Food Systems (500m2), McCarthy's Technical Training (300m2); and Eureka Built-In Cupboards (100m2).

Darren Wilder, Spearhead's chief operating officer, said take up at the new business park had been steady from the start of the project because the quality of the Dennis Fabian Berman design wass widely acknowledged and the security (with perimeter walling, a single entry point and closed circuit television) was top of the range.

The layout also ensured that there was no shortage of parking space. "We expect the remaining 3 000m2 of space to be taken up before the end of June," said Wilder.

"After that we will move straight on to the third and final phase." By then, Wilder predicted, prices would have risen a further 10%, but at present space is still available in phase two from R32/m2 to R45/m2.

Spearhead's commitment to the area, added Wilder, was strong and they would be going ahead with a new R150 million business park in Ratanga Road. For further information contact Darren Wilder or Debbie McCallum on 021 425 1000.