Written by: Cliff Toerien & Wayne Rossi
Century City, the ‘City within a City’ as a lot of people like to call it, comprises approximately 250 hectares situated on the N1 Freeway within close proximity (and easy access and egress) to most nodes of interest. It remains one of the fastest growing commercial property nodes in the country and offers more than just a clean, safe, efficiently run A-Grade office environment, but also caters for needs such as shopping, entertainment, residential, and even a newly upgraded Creche.
What most users find appealing is its flexibility to accommodate general office space demand. Tenants or Purchasers looking for anywhere from 100m² to 500m² are almost guaranteed to find something that meets their requirements and there are a number of opportunities for larger users in the 1,000m² up to 10,000m² range, or upwards if required. That’s what makes Century City such an appealing commercial property node – it caters for both leasing and purchasing opportunities for almost any size user!
Having harped on about Century Citys’ versatility, let’s look at the rentals. With Century City being as popular as it is, and the general rental market being where it is, there are actually a number of attractive leasing opportunities at the moment with gross asking rentals in the R90/m² to R130/m² region. Considering that you’re looking at anywhere from R95/m² to R110/m² in the CBD and between R140/m² to R165/m² for prime property in the V&A Waterfront, you can quickly appreciate that the combined versatility as well as facilities available within Century City at the current asking rentals is a combination that you’re unlikely to find elsewhere.
As for office developments within Century City, there are a few which are worthy of consideration. The Courtyard is a 2,200m² Sectional Title development which will offer office units to lease or to purchase from 63m² to 222m². These units can also be combined to create larger areas of up to 600m². The Estuaries No.2, which is nearing completion, offers approximately 3,600m² with a generous parking ratio of 4 parking bays per 100m². Century City is clearly well placed to provide future
commercial property users with what they need.