According to the latest vacancy figures released by the South Africa Property Owners Association (SAPOA), Cape Town is the only major city in South Africa that recorded a decline in industrial vacancies over the last quarter. One area acting as a major driving force behind industrial growth in the region is Epping.
Despite being one of Cape Town’s oldest industrial nodes, Epping continues to be a popular choice amongst users says Galetti Commercial and Industrial property brokers’ regional branch. One of the area’s key draw cards is its convenient location. Bordering Parow, it is within equal driving distance of the N1, N2 and R300 highways, and close to Cape Town International Airport and the city’s largest commercial nodes. This makes it the perfect home for logistics companies looking to efficiently move goods throughout the region.
With prices uncharacteristically low compared to normal, a number of savvy investors are purchasing properties in the area with the aim of redeveloping them in future. A number of tenants have also chosen the option of purchasing instead of renting in order to take advantage of these low prices and become property owners instead of tenants. Across Cape Town, the average industrial rental is currently R32/m2, which is a marginal improvement from R30/m2 recorded in 2009 during the height of the global recession. This has lead to a notable shortage of available sale stock in the area, but Galetti says that their strong relationships with landlords in the area renders them more than equipped to assist clients with any purchasing/rental needs in the area and surrounds.
Looking for an Epping warehouse to let / Epping warehouse for sale? Contact us now on 021 418 6308!