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CONSTRUCTION WORLD
OCTOBER
2015
PROJECTS AND CONTRACTS
or environment anywhere except in Europe or
South America. So we decided to take a risk
and dive in head first.”
Agreeing with Steve Harris on the need
for collaboration above and beyond the
working space, Heller advises: “Co-working is
about the community and the relationships
and interactions between everyone
in the space. So it's less about managing
the physical space, and more about building
the community. That's more of an art and
requires more energy.”
Collaborating in the right places
According to the tate of
Cape Town Central City Report 2014
(published annually by the
Cape Town Central City Improvement District as an investment guide into the CBD), as at
December 2014, SAPOA vacancy rates indicated:
• Of the 515 535 m
2
of B-grade space available in the CBD, 53 862 m
2
was available for
leasing, ranging from R80 to R115/m
2
;
• Of the 145 178 m
2
of C-grade space available in the CBD, 31 711 m
2
was available for
leasing, ranging from R47 to R95/m
2
.
By the second quarter of this year, SAPOA figures revealed that the vacant space in
B-grade property had dropped to 47 375 m
2
available, while C-grade had dropped to
29 758 m
2
available.
According to Rob Kane, Chairperson of the CCID: “These represent drops in our
vacancy rate from 10,4% to 9,1% (for B-grade) and from 21.8% to 20.5% (for C-grade)
respectively. We believe the rise in co-working spaces in the CBD has impacted in some
way on these vacancy rates, and also reflects the growing desire by people attracted to
this type of working environment to be part of the Cape Town Central City’s growing live/
work/play environment.”