THE REJUVENATION OF COMMERCIAL CAPE TOWN
Big Business in Cape
Town |
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In
the build up to 2010, a major Pam
Golding commercial project assists
in the rejuvenation of ‘commercial’
Cape Town. This project is The Equinox
commercial building in Sea Point.
Alongside this, the Pam Golding Lodges
and Guesthouses division and the Golding
Hotel Investment Consultants division
are managing major business deals
in the hospitality sector in the build
up to 2010.
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| THE
EQUINOX – 154 MAIN
ROAD, SEA POINT |
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The
rejuvenation and revitalisation
of Sea Point in Cape Town
has been given further
impetus with the development
of The Equinox, the area's
first AAA grade commercial
development, which is
situated at 154 Main Road
on the site of the former
Medical Square.
Accommodation
Comprising over 6000m²
of gross lettable space,
this prestigious, up-market,
six-storey building comprises
mainly prime office accommodation
with retail space on the
ground floor. In addition,
250m² of penthouse
space for luxury office
accommodation is planned
for the top floor, while
a total of 74 secure parking
bays are situated on the
ground, first and second
floors.
Rentals
Selwyn Sharon, leasing,
sales and investment consultant
for Pam Golding Commercial,
says almost all the retail
space was let prior to
the marketing of the building,
while the commercial office
space has just become
available to let with
rentals starting from
R120m² with a generous
tenant installation allowance
of R1,040m².
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Views
"In addition
to offering tenants
spectacular views
of Table Mountain
and the city, The
Equinox is perfectly
positioned, being
extremely convenient
with easy access
to main routes in
and out of Cape
Town. With less
than 2% of vacant
office space available
in the city centre,
this is an ideal
option particularly
for those who reside
in the Sea Point
area or Atlantic
Seaboard. In addition,
the V&A Waterfront
is close by as is
the new stadium
in Green Point,"
says Sharon.
Prestigious
ownership
He adds that the
prestigious accommodation
would be well suited
to Gauteng businesses
wishing to open
a Cape Town office,
and ideal for a
variety of uses,
for example multi-nationals,
professional firms,
marketing consultants,
advertising agencies,
IT businesses and
fashion designers.
Amenities
"It is very
rewarding to see
Sea Point now coming
alive with a vibrancy
not seen for many
years," says
CEO Paul Berman,
who is on the City
Improvement District
board, which has
helped revitalise
Sea Point Main Road
area with 24-hour
security, as well
as private cleaning
facilities over
and above those
provided by the
council.
“On completion,
The Equinox will
be a spectacular
landmark and I believe
a catalyst for further
upmarket residential
and commercial developments
in the area,"
adds Berman. |
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FOR
INTEREST
IN THE EQUINOX: |
Selwyn
Sharon
Pam
Golding Commercial
Email: selwyn.sharon@pamgolding.co.za
Tel: +27
(0) 21 417
7878
Cell: +27
(0) 82 825
3231 |
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HOSPITALITY
INDUSTRY GEARS UP FOR
2010
As
the 2010 Soccer
World Cup approaches,
there is much debate
about the benefits
of this major global
event for South
Africa. Joop Demes,
MD of Pam Golding
Hospitality, says
the increasing exposure
South Africa is
receiving worldwide
due to the 2010
Soccer World Cup
is the equivalent
of billions of rands
in free advertising
for the country's
hotel and tourism
industry.
"This
will only increase
as we build up to
the event and will
be sustainable due
to the unique experience
we offer tourists
visiting our country.
This is coupled
with the fact that
the cheaper South
African rand will
indeed play an important
role towards long
term sustainability,"
says Demes. |
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"During
the past 16 months,
Golding Hotel Investment
Consultants has
facilitated new
hotel developments
with a total value
of approximately
R1.6billion, with
50% of these being
with international
operators. In addition,
over the past 12
months the same
company has facilitated
the sale of four
hotel and game lodge
operations with
a total value of
R625million –
all for overseas
buyers, while Pam
Golding Hospitality
& Tourism Consultants
is currently conducting
six feasibility
studies for new
hotels, three of
which are on behalf
of an international
operator.”
He adds that of
significance is
the fact that during
2007, and for the
second year in succession,
the South African
hotel market as
a whole experienced
a double digit increase
in Revpar (revenue
per available room
i.e. the product
of room occupancy
and average room
rate), with the
year 2007 up by
a very impressive
16.3% compared to
2006. During 2007
and compared to
2006 the five star
hotels increased
their Revpar by
19%, while the overall
Johannesburg Revpar
growth was 25.5%,
as quoted by the
Deloitte Hotel and
Benchmark Study.
Leonard Brewer and
Peter Bruil, directors
of Pam Golding Lodges
& Guesthouses
(PGLAG), report
that in the run-up
to 2010 South African
buyers are demonstrating
an increasing appetite
for acquiring well-located
guesthouses, particularly
in the Western Cape. |
The company,
which specialises
in the marketing
of lodges
and guesthouses
mainly priced
from R5-R50million
and ranging
in size from
six to 40
rooms, has
over the past
12 months
alone (to
March 2008)
concluded
transactions
to the total
value of over
R130million.
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One
of the noteworthy
transactions
concluded
recently by
PGLAG is the
sale of the
Cape Heritage
Hotel and
Heritage Square
in central
Cape Town,
a four-star,
15-room hotel
with leases
for restaurants
and shops,
sold close
to the asking
price of R35million.
With historic
connections
to South Africa
the new owners
desired a
change of
lifestyle,
while Cape
Town's central
area enjoys
generally
high occupancies
and interest
from both
the tourist
and corporate
markets.
Additional
transactions
are currently
being negotiated
by PGLAG for
establishments
in Gauteng
and the Western
and Eastern
Cape regions
at a further
value of some
R80million. |
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LATEST
AUCTIONS – JUNE 2008 |
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| SOMERSET
WEST GUESTHOUSE: TWO AMAZING
PROPERTIES - MUST SELL! |
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Date:
17th
June 2008
Time: 11am
Venue:
ON SITE:
164 Irene Ave
& 48 Almond Drive,
Helena Heights, Somerset
West
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Guesthouse
with large owners
house and expansion
potential. |
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2
Erven - total 3452m²
in Helena Heights.
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2
entrances, 2 gates,
ample parking |
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200m²
owners house. |
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5
self-catering 3*
TGCSA apartments
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Possibility
to convert granny
flat into 3 more
rooms |
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Long
track record, loyal
client database
with 80% overseas
guests |
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Fantastic
views of the Helderberg
in quiet location
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Pool
area with landscaped
gardens |
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Location:
Western Cape
Type:
Commercial
Broker Information
Broker:
Peter Bruil
Cell:
083 384 0584
Email:
peter.bruil@pamgolding.co.za
Read
More Here |
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| DE
WATERKANT, GREEN POINT:
THE JEWEL IN THE CROWN
– FIT FOR A QUEEN! |
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Date:
19th
June 2008
Time: 11am
Place: ON SITE:
34 Napier Street, De Waterkant,
Green Point
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A
prestige ownership
opportunity in the
heart of the vibey
Waterkant directly
opposite the new
Cape Quarter extension.
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When
completed, this
fabulous development
will attract 1000’s
of well-heeled customers
past your doors
with 11000m²
retail and 8250m²
A-grade office space
due for completion
within the next
year.
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Use
this gem of a building
for exclusive niche
retail space, convert
it to a trendy restaurant
or flaunt your success
and relocate your
offices. |
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Location:
Western Cape
Type:
Commercial
Broker Information
Broker: Geoff
Stroebel
Cell: 083 460
1281
Email: geoff.stroebel@pamgolding.co.za
Read
More Here |
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