Latest News
Rode raises red flag on industrial property
18 November 2008
Erwin Rode of property economists Rode & Associates has urged investors to exercise caution with industrial property, particularly in the short term.
‘There’s no doubt that industrial property has enjoyed a very good run,’ says Rode. ‘However, the two pillars of industrial property, retail trade (incorporating both warehousing and distribution) on the one hand, and manufacturing and production on the other, are currently under severe economic threat. As we all know, retail has already contracted significantly and this in turn could have a negative effect on manufacturing production. Even exports to a world that is stalling are under threat in spite of the lower external value of the rand.’ Read more
Stagflation hits building industry
17 November 2008
An interesting observation in recent quarters has been the acceleration in building-input-cost inflation, while building-contract-cost inflation has been decelerating. Read more
Property market: Bear, bust or boom?
14 November 2008
Panic is growing in residential circles, but some reckon they can see the light at the end of the tunnel.
James Templeton, chief executive officer of listed property company Emira (JSE:EMI), remarked to Realestateweb this week that in markets like these, the focus is always on negative comments. This followed the news that South Africa was no longer looking so rosy in the eyes of credit ratings’ analysts. Read more
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Landlords, tenants must now beware
1 November 2008
The financial institutions’ clampdown on defaulting mortgage bond repayments has made it absolutely essential for those landlords who are themselves bonded to receive payment from their tenants on time every month.
“In the old days, the banks were often prepared to be understanding about landlords who had difficulty in getting their tenants to pay their rents and they were open to extending bonds and granting access facilities on existing bonds without stringent credit limitations,” says Bill Rawson, chief executive of the Rawson Property Group. Read more
Cape Town Partnership Annual Report – Investment Highlights of the Year
28 October 2008
While the world is currently in the grip of a financial crisis, the Central City has remained relatively unscathed to date with more than R1 billion of development has been completed or is under construction over the past year… Read more
Commercial sector shows cracks
22 October 2008
A few cracks are starting to show in some sub-segments of SA’s multibillion rand commercial property sector, where the demand for space is coming under pressure. Read more
Vacancies level out in the Cape Town CBD
18 October 2008
Consensus seems to be developing amongst economists that the South African economy is going to decelerate sharply to a growth rate of about 3% p.a. over the next few years. Says property economist Erwin Rode of Rode & Associates: ‘This is much lower than the 5% p.a. developers have come to expect over the last few years, and it will no doubt lead to a slowdown in the take-up of space, and might result in rising vacancy rates in some areas. Read more
Commercial property gives certainty
13 October 2008
Whilst the uncertainty of global markets currently haunts investors, the certainty of income streams on commercial property is proving to be relatively comforting for commercial property investors. Read more
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9 October 2008
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Property game’s new rules
26 September 2008
Things are very different for agents, buyers, sellers after a shocking year.
This year will go down as one of the worst in many for South Africa’s shrinking army of estate agents and the panicky sellers who have enlisted them with offloading their bricks-and-mortar. Read more
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Industrial land a boon to SA
23 September 2008
Despite a near or full-blown recession in large parts of the world, things may actually be looking up for South Africa due to a wealth of unique opportunities, especially in industrial property.
Commercial and industrial expert Warren Jack shares his insight. Read more
Commercial Leasing Strong
Growthpoint Properties Limited, South Africa’s largest JSE listed property company, has reported an exceptionally strong year for commercial property leasing.
During its financial year to 30 June 2008 Growthpoint concluded leasing deals valued at R2,44bn for over 800,000sq m of space in its property portfolio. Read more
Without a doubt, offices are the star performer in the Western Cape, accounting for R415m in deal value over 65,000sq m of space… Read more
South African property news Slow-down in passing of non- residential building plans
14 September 2008
While the slow-down in building activity in the residential sector has been expected, recent statistics for non-residential property have surprisingly shown that this sector is also now beginning to weaken. Read more
Demand the cause for driving office rentals
14 September 2008
The latest SA Property Owners Association office vacancy survey offers an explanation for the continued increase of commercial office rentals in Cape Town and the rest of South Africa. Read more
CT office project completed in ‘09
5 September 2008
Two of the four buildings remaining to be completed at a Cape Town office development will be ready for occupation at the middle of next year.
The final two can be ready by August 2009. Read more
Growthpoint Properties achieves above expectation growth
27 August 2008
Growthpoint Properties Limited announced 14,4% growth in distribution per linked unit for its financial year ended 30 June 2008, with both the company’s earnings and its distributions outperforming forecasts
The largest South African listed property company with 436 geographically and sectorally diverse properties valued at over R27 billion, Growthpoint reported a market capitalisation of R14 billion at 30 June 2008. Since then, and in line with the listed property sector, Growthpoint’s unit price has rebounded by over 20% taking its market capitalisation to back over R17 billion. Read more
Worst is over for listed property
20 August 2008
The worst could be over for the listed property sector, which has experienced severe volatility this year, provided there are no nasty interest rate surprises in the next quarter. Read more
Cape Town Calls for new office Space
14 August 2008
Cape Towns newest R700 million development “The Boulevard Office Park” is already 50% complete. They are anticipating all buildings to be available for occupation by March 2009!
Faircape’s timing of this project could not have been better with vacancies in Cape Towns CBD reaching an all time low. Nedbank is said to be financing 25% of their loans to the commercial space sector in Cape Town which gives you an idea of the need for office space in Cape Town. Read more
Office, industrial letting ‘still extremely favourable
6 August 2008
While a gloomy outlook has been painted for the economy by many, the office and industrial property letting markets seem to indicate all is still relatively well. Read more
Finding Value In South Africa
5 August 2008
A great read to see some positive feedback about our country and Cape Town in particular.
Interesting letter by John Mauldin, one of the US’s top investment advisors – recently voted second only to Warren Buffet as an investment guru… Read more
Retail sales bad news for retail property
5 August 2008
The growth in retail sales has been losing steam for some time now, with the figures for May 2008 revealing that real sales (actual volumes of sales) were down by nearly 4% on the same month a year earlier. Read more
Make the right property choice
“Effective use of property can increase profitability, attract quality staff, enhance your image and make your business more efficient and easy to run.”
We realize the importance of property to your business as it is an issue which impacts on every company in Cape Town. It is vital that businesses think about property issues and the effect that property – from use to location – has on competitiveness.
In Cape Town we are noticing significant change in the property market and any successful business cannot afford to ignore this key area.
For most companies property is the second highest business cost.
Commercial property usually represents over a third of total business assets;
and running costs can be the second highest cost after wages. Property is therefore key to business success: not only does it dominate your financial
statements, but it can also provide real competitive advantage through its location, the working and sales environments it provides, and
the image and profile it supports.
A lack of strategic awareness around property means that many companies have little knowledge of their property costs. Email Commercial Space for assistance with your property needs!
Email us or contact us on 082 339 2722 to find out more.