PROPERTY: Industrial Space In Demand
Recent Western Cape Business News
The Growthpoint Properties team in the Western Cape achieved an impressive 69,200m² of deals. Its portfolio’s vacancy levels moved from 32,000m²to 29, 000m² during the quarter. There was active leasing across all sectors, with over 40 leases each in its retail and office portfolios coming into effect during the quarter. The most take up, by size, however, was reported in the industrial portfolio.
“There’s been a surge in demand for industrial space in the Western Cape, and our portfolio is virtually fully let. Industrial leases signed make up some 40,500m²,” points out David Stoll, Growthpoint’s Western Cape Regional Head. The largest industrial deal concluded during the quarter was with Wholesale Housing Supplies.
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