FOR thirty years have tenants had such a market for offices. Almost all buildings have some sort of vacancy factor, and in some older CBD and main street blocks tenants can still largely write their own ticket.
Tenants can even expect to do a better deal on re-signs.
That fact probably won't be pointed out by the landlord or agent but a simple phone call should establish what new tenants are being offered, and smarter owners will still be anxious to re-sign an existing tenant at a lower rental and on better conditions. Such a market situation in Cape Town hasn't existed since the early 1970's when office rents hovered around R3sq m for several years - before doubling and trebling by the end of the decade. Despite the doom say-ers the same situation is likely to apply this decade so that the present rates may begin accelerating again. The opportunity for sectional title office buyers may be even better. Current new developments of office space from Kenilworth to Blaauwberg to Tokai have an asking price of R6 000sq m.