Category: Cape Town (11)

The Opulent Living Concept Store & Gallery has launched on Kloof Street in Cape Town.

 Much like the high streets of popular European cities, Kloof Street has become one of Cape Town’s most opulent_living_concept_store_and_gallerycelebrated design quarters, and the beautiful old building at No 24 has been remodelled under the expert guidance of top interior designer Sarah Ord. Renowned for her bold and cosmopolitan interiors, Ord’s designs for the Opulent Living Concept Store & Gallery features walls in striking emerald green, offset in places by rich sapphire blue. “It’s the perfect fit for our brand,” says Opulent Living co-founder, Barbara Lenhard. “I have always loved Sarah’s work, and we are so excited to have worked with her on this important project.”

The Opulent Living Concept Store & Gallery has opened its doors on the 1st of November 2016 and customers can expect to discover a range of exclusive items in various price ranges. These include handcrafted jewellery from ANPA, known for its custom-made contemporary designs, and the Legacy Collection, which uses pieces of the original fence from Robben Island prison.

Exquisitely crafted handbags from luxury ostrich leather house, Mvari, as well as colourful creations from the Italian-made Save My Bag range. Beautiful Taunina bears, each handmade and embroideopulent_living_concept_store_and_gallery_kloof_streetred by local women, will grace the shelves, too.

There’s also designer menswear from British fashion label Grays London, established in 1927, recently launched in South Africa, as well as the colourful women’s wear collection, Resort. A bespoke range of Opulent Living lifestyle products will be launched and customers will be treated to exquisite items. Works by prominent South African artists, Jean Doyle, Jimmy Law, Marieke Prinsloo, Richard Scott, Michaela Rinaldi and German-born wildlife art photographer, Klaus Tiedge, are currently on sale.

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ImageDespite hurdles, Cape Town has surged ahead with alternative ways of procuring energy, with more businesses and households generating excess electricity and then feeding it back into the grid. The City of Cape Town was given permission to be a pilot site for embedded generation, with its first projects taking off in 2014.

Since then, 18 commercial customers, including the V&A Waterfront, the Black River Park office complex and Bayside Mall, as well as 43 residential homes in Cape Town, are connected to the grid. They are able to generate their own electricity and feed excess electricity into the city’s grid through solar photovoltaic (PV) panels on their rooftops. They are, in turn, rewarded for this.

“We see this as an important part of the green economy. It’s gaining traction. In the context of a national energy crisis and a national energy shortage, we want to promote it in a big way. The more power we bring on, the cheaper it will be in the long run,” says the City of Cape Town’s director of trade and investment, Lance Greyling.

Black River Park Investments, an office park in Observatory, Cape Town, was the first commercial firm to sign up for the small-scale embedded generation policy in 2014 and was the biggest solar installation in the entire southern hemisphere at the time, says Matthew Kempthorne, the chairperson of the city’s portfolio committee on energy and climate change.

The 74 000 m² office park uses large-scale solar power systems to generate environmentally sustainable energy. Solar panels cover the equivalent of two rugby fields. Some of the electricity it produces is used to meet its own energy demands, while it feeds a limited amount of extra electricity back into the city’s grid in exchange for an offset against the park’s monthly electricity accounts. The electricity it saves over quiet weekends, when the load is reduced, is stored and fed back into the city’s grid.

But, despite the enthusiasm for the projects it is involved in, the city is in holding mode. The National Energy Regulator of South Africa (Nersa) was to have published the regulatory rules for small-scale embedded generation by the end of May last year. But it says it is still waiting for the Department of Energy to complete drafting the licensing regulations, which will provide a policy framework within which the Nersa regulatory rules will be formulated and applied.

“We’re still in a grey area when it comes to regulatory oversight. We are constrained by national legislation. We’re waiting for the department to come out with a policy position on what they will subsidise,” says Kempthorne. A feed-in tariff is designed to boost investment in renewable-energy technologies by offering long-term contracts to renewable- energy producers. Renewable-electricity generators, from homeowners to business owners, are paid a cost-based price for the renewable energy they supply to the grid. The system is working well for businesses that burn up a lot of energy during working hours. “When they generate electricity during the day through solar panels, they’re using that immediately, and don’t need to buy electricity from us, while during weekends, when they can generate electricity without using it, we can buy it back at Eskom prices,” says Greyling. He says embedded generation is a worldwide trend, and South Africa needs to position itself for the future. “Instead of buying from Eskom, acting as middlemen and then selling to customers, we’re looking at various options. The utility model is being threatened across the world.” A string of buildings in the popular V&A Waterfront has made the most of developments in renewable energy by moving swiftly into solar power.

Sustainable Power Solutions, which installed 4 200 SolarWorld Africa solar panels and SMA converters across key buildings throughout the V&A, has covered 7 500m² of roof area. The panels generate an average of 4 500 kWh a day – equivalent to powering 310 average households. They range from residential buildings such as the Breakwater Apartments to the Two Oceans Aquarium and the Clock Tower, and cover up to 24% of the total electricity consumption, depending on the building. A grid-connected solar plant is connected to the city’s electricity grid. As solar is a complementary source of energy, it works in conjunction with the city’s electricity system. As there is so much consumption, the V&A is designed for its own electricity use. All the solar energy is consumed in the buildings, with none of it exported. The V&A sees a benefit in the environmental sense, as it is able to avoid 1 600 t of carbon dioxide emissions a year. It also generates long-term electricity savings through its use of solar PV.

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SolarWorld Africa MD Gregor Kuepper says prices of solar PV have sparked interest. “Prices are very affordable. The price of solar PV has come down substantially over the past ten years and is now at 65 c to 75 c per kilowatt hour. It’s a major price shift which would make the energy source fully [comparable to] the grid prices.” Kempthorne says the city has been keeping a keen eye on the way Germany – a trailblazer in the field – has rolled out renewable technologies. Metering has also been pivotal. Kuper suggests that keeping track of the solar energy produced is essential. Consumers have to install a bidirectional advanced meter at their own cost if they want to feed into the city’s power grid. “You have to keep a record of what you produce through a meter installed next to the regular municipality meter. One meter shows what you take out of the grid, and the other meter shows what you feed into the grid.” While feed-in schemes can be a boon for businesses, there’s not as much incentive for residences in South Africa at this stage. The cost of the metering system in particular is high, with the average household system costing around R200 000 once everything is installed and in running order, says Kempthorne. The other challenge is that houses do not have as much electricity consumption during the daytime hours, when the solar panels are working their hardest. The surplus solar generated during daytime hours needs to be stored in battery banks, which are expensive. Homeowners also pay the city a network charge of R13 per day. But Kempthorne expects that costs will come down as demand grows, while most people who have linked into the system are doing it mainly for environmental reasons.

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There has also been concern that municipalities would lose out on valuable income if business and homeowners opt for the feed-in option. But Kempthorne says it will not reach a stage where those who cannot afford it will have to subsidise the wealthy. “Strategically, the city wants to be the battery, and we will tailor-make our tariffs. We need to make a strategic decision to embrace the change but will need to tailor-make tariffs to protect our revenue.” Cape Town Mayor Patricia de Lille sees the uptake of renewable-energy technologies as an opportunity to further build the economy. “If we want to continue on the upward trajectory of economic growth and job creation in Cape Town, we need to act now to make our city and province energy secure. “We cannot leave the future of energy security in the hands of Eskom. We no longer want to merely be distributors of electricity but want to become energy creators as well.” While keen to expand its feed-in programme, the City of Cape Town has also issued guidelines on the safe and legal installation of rooftop PV systems and the importance of using a service provider capable of designing, supplying, installing and commissioning PV systems. This follows instances of poorly installed rooftop PV systems, while others were being connected to the electricity grid illegally. The council has warned that people are at risk of electrical fires and electric shocks from poor-quality installations that do not meet the wiring standards, while the safety and power quality of the electricity grid could also be compromised by illegal connections. The municipality is also worried about unplanned generation capacity that the network is not designed to carry. Any business or homeowner who wants to connect a PV system to the grid needs prior written approval from the City of Cape Town’s Electricity Services department. The business or homeowner also needs to be within the city’s electricity distribution area. The city distributes electricity to 75% of Cape Town, while Eskom distributes electricity directly to the remaining 25%. The city has set a target of sourcing between 10% and 20% of its energy generation from renewable-energy sources by 2020.

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This months emailer pays homage to the Epping of old and takes a look at the great warehousing that is currently available.

Give us a call if you want to book a property consultation!

A bit of History – Epping is an industrial area of Cape Town that is situated centrally on the N7 south of the N1, 15km’s east of Cape Town and north of the N2. Epping Industria was first developed in the late 1940s. Industrial development was initially slow and in the early 1950s the circular Gunners Circle was used as a race track for cars. When industrial development picked up in the late 1950s the racing was stopped. The completion of the Athlone Power Station close by assisted in the proliferation of industrial businesses into the area in the mid 1960s

Epping Industria is the largest and most centrally situated industrial area in greater Cape Town.ts proximity to the major roadways and the availability of most forms of public transport make it an extremely sought after location for business.

 

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Using light steel frames to construct buildings is not only faster than conventional building methods, but also contains less embodied carbon – which is the amount of energy used in the entire manufacturing chain of a particular product, says light steel frame association the Southern African Light Steel Frame Building Association (Sasfa). Building methods using light-steel-frame building (LSFB) have until recently not been widely accepted by the architectural industry, as it was deemed unsuitable for complex and creative design. Print Send to Friend 1 0 However, Sasfa claims that, in the recent past in South Africa, not only has this “exciting building method” become increasingly accepted in the mainstream architectural and construction industries, it has also been shown that an architect can design almost any building or structure and have it executed with LSFB. The most recent example is the expansion at the well-known Vrede en Lust farm, in Boland, in the Western Cape, which used light steel frames as part of the venue’s function and wedding accommodation structures. This was built in a typical Cape Dutch style so that it would blend in with the existing buildings on the farm – some dating back to the early 1700s.

The owners decided that it should be a five-star facility, an energy efficient building with enhanced acoustic insulation between rooms, top-class finishes and, most importantly, had to be built within six months as a turnkey project. LSFB contractor The Silverline Group was contracted for the structural engineering, the detail shop drawings, and the total construction project including civil works and finishes. The project began on May 4 last year and the first wedding ceremony was successfully held at the venue on November 7. Sasfa director John Barnard says that the speed of construction possible with LSFB allows the facility to be in use quicker than is possible with other building methods, thereby producing income long before it would otherwise have been possible with conventional building methods. It is not only the speed of construction that saves money in the long term, he says, adding that by using LSFB material, wastage can be reduced significantly, transport costs slashed by up to 80% and the carbon footprint significantly reduced. Barnard states that LSFB is significantly more energy efficient than more traditional construction methods, both with regard to embodied energy of the materials and components, as well as operational energy relating to heating and cooling of the building over its design life. At Vrede en Lust, aluminium-zinc coated, high-strength steel sheet was used for the light steel structure and was roll-formed on a Framecad roll-forming machine. The roof trusses were designed by Silverline Group using software solutions and roof trusses company Mitek’s UltraSpan software. All windows were specified to be single-glazed aluminium frames – owing to the high R-values of the insulated walls, double-glazing was not required. To achieve the Cape Dutch design, a special cobbling plaster, designed by architectural company Malherbe Rust Architects, was used. The building was finished internally with full skim plaster on 15 mm high-impact cement company Lafarge’s gypsum boards with 102 mm Cavitybatt insulation supplied by insulation solutions company Isover. Silverline Group CEO Charl van Zyl says that, with fully skimmed ceilings in all bedrooms, down lighters were the perfect fit for the luxury room designs. Acoustic ceilings were fitted in the kitchen, front entrance and boardroom and restaurant. All bathroom walls were clad with fibre cement board and waterproofed, fully skimmed and painted. He adds that this was one of the most enjoyable and fulfilling projects that his team has undertaken. “We enjoyed working with owners Dana Buys and Ettienne Buys and to implement the Cape Dutch design, we were lucky enough to work with top professionals in the design and construction arenas. It is most pleasing to see that the advantages of LSFB is applicable to all buildings whatever their shape and design and I believe that this building puts to rest any doubt that LSFB will soon become the building method of choice for developers and architects alike,” concludes Van Zyl.

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The City has completed the General Valuation for 2015.

Property owners will soon receive an official notice in the post or via e-mail, advising
them of the 2015 valuation of their property/properties. This is the first year that the total valuation of all rateable properties has passed the trillion rand mark in value.

The City’s latest general valuation shows that the total valuation of all rateable properties has increased from R911 billion in 2012 to R1 156 billion in 2015. Property owners would therefore be encouraged to see that their property investment is still increasing in value in most areas in Cape Town.

In total there are 845 764 rateable properties on the General Valuation Roll (GVR) for 2015. The largest portion of properties comprises residential properties (719 681). It also includes, among others, 31 296 commercial properties.

The General Valuation (GV) for 2015 was signed off by the Municipal Valuer on 29 January 2016. It was published on 19 February 2016. Property owners will also be able to view the latest GVR for 2015 by visiting www.capetown.gov.za/propertyvaluations.

Analyzing industrial property by box size reveals that there is currently more space available in middle of the range properties, particularly those sized 2,500sqm to 5,000sqm. Interestingly, the smallest and largest box size segments recorded the largest improvements in vacancy rate. This is perhaps surprising given the state of the economy and also the fact that smaller tenants may be more vulnerable to exchange rate movements. What it could potentially indicate is that most occupiers are downsizing their operations – requiring less space.

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Cape Industrial Property was recently awarded the Project Groundbreaker award by Growthpoint Properties.
Project GroundBreaker is the Industrial Property Award that forms part of Project Millionaire, Growthpoint’s broker incentive program.

Cape Industrial Property

Cape Industrial Property

Cape Industrial Property Managed to win the Western Cape regional prize achieving the highest value for leases concluded over the past 12 months for warehouse space in the Growthpoint Industrial Property Sector.

Cape Industrial also managed a second place nationally.

The award seremony was held at the Barnyard Theatre in Rivonia.

green warehousing

Property groups are shifting to clean industrial properties focussed on light manufacturing, warehousing and distribution as harder manufacturing struggles, SA Commercial Prop News has learnt.

This is while more and more of SA’s economic output comes out of services and less out of hard line manufacturing.

The likes of SA’s biggest industrial property owner, Capital Property Fund, believe heavy manufacturing presents an unattractive business case.

“There is huge pressure on SA’s manufacturing sector. Capital sold out of heavy manufacturing properties some time ago and we don’t see signs that suggest we should go back to that space,” Executive Director at Capital Property Group, Andrew Teixeira says.

Capital’s industrial portfolio is centred on warehouses and distribution centres but it also includes light manufacturing factories.

“Heavy manufacturing is commodity based and can happen in many countries other than SA. You have to be making a niche product to do well with it in this country,” Mr Teixeira says.

The worst month for manufacturing for this year to date was July.

Manufacturing production fell 7.9% year on year in July, suffering its biggest contraction since October 2009, after barely increasing 0.2% in June, according to Statistics SA data.

The output was dented by a four-week strike by steel and engineering workers, largely seeing motor vehicle production cease or be scaled down at various plants.

Economists are not optimistic about how manufacturing will perform next year.

“Manufacturing will probably continue to struggle. In 2004 it accounted for 19% of the economy. In 2013 it accounted for 11%. Labour has priced goods and services to levels which are uncompetitive with SA’s emerging market peers. Manufacturing is in serious trouble and it does not have much of a future in SA,” Meganomics economist Colen Garrow says.

He is concerned that the euro zone, SA’s biggest export destination will re-enter recession.

“Russia’s attempts to re Balkanize the Ukraine will likely push the Euro zone close to recession again. These countries make up a constellation of 18 economies, most of which are destination markets for SA’s exports,” Garrow says.

Nevertheless, Teixeira says that Capital’s warehousing and distribution properties helped the group make double digit income growth in the six months to June.

Apart from the rand weakness benefit that flowed from the Capital’s investments in offshore funds, New Europe Property Investments and Rockcastle Global Real Estate Company, Capital’s better distribution growth was buoyed by the sale of non-core office buildings and lower vacancies in the industrial buildings.

Vacancies decreased from 5.1% in December to 4.2% in June.

Growthpoint Properties’ divisional director for its industrial portfolio, Engelbert Binedell says industrial property is often misunderstood as a part of property. Growthpoint has about R9.3bn worth of industrial properties which represents about 17% of the group’s domestic assets.

“Retail and offices are usually seen as being sexier. Still there are conditions developing to show that industrial property has an exciting future in SA,” Binedell says.

While Gauteng remains the hub for the industrial property class, upgrades to port infrastructure mean warehouses by the coast are becoming attractive.

Binedell says he expects Cape Town and Durban to face a surge in demand from logistics groups in the next few years.

“Infrastructure is being rolled out at our ports. I am always amazed when I stand on Umhlanga Ridge and see ships coming in.

“The daily number of ships docking has clearly increased this year. The industrial sector is healthy at Cape Town, Durban and Port Elizabeth and I think a massive pick up is on its way,” Binedell says.

CEO Andrea Taverna-Turisan listed Equites, an industry focussed fund this year.

He says in about five years, online buying will boom in SA and this will create large demand for warehousing.

“Companies are going to need to store not only fast-moving consumer goods but other goods. SA may have a shopping mall culture but accessibility to online shopping will see people buying goods off the Internet,” he says.

He also says that industrial property is gaining a lot of interest from the listed property funds when it used to be more popular with many unlisted funds.

“When we listed, industrial property just was not that popular. It is becoming popular now with not only unlisted funds but listed Reits (Real Estate Investment Trusts) trying to get their hands on industrial assets. It seems the improved infrastructure by Durban’s ports and the increasing business activity in Cape Town; are among the key drivers,” he says.

Stanlib’s head of listed property funds, Keillen Ndlovu says industrial property has strong fundamentals in SA, which is part of the reason why his funds have stakes in the likes of Capital Property Fund and SA Corporate Real Estate Fund.

These funds’ distribution and warehousing assets are attractive, according to Ndlovu

“Yes, we like the industrial space. The fundamentals are good. Rental growth has been good with 7% growth in the sector in 2013.

“Vacancies are low across all types of industrial property. In fact, than industrial sector has lower vacancies than the retail and office sectors,” he says.

Ndlvou highlights the improving qualities of coastal industrial properties, especially those in KwaZulu Natal.

“KwaZulu Natal has generally been a strong node and commands higher average rents than other regions. The fact there are plans to expand the Durban port are a potential big positive going forward,” he says.

According to a recent report by the South African Property Owners’ Association, Cape Town area has lower vacancies than all other industrial regions do.

 

 

Original Article – SA Commercial Property News

http://www.sacommercialpropnews.co.za/property-types/commercial-industrial-property/7065-industrial-property-has-to-be-nimble.html

BOOST BUSINESS GROWTH AND START-UPS IN CAPE TOWN

Cape Town is a business-friendly destination that prioritises an enabling environment for entrepreneurship and business growth.

While different services exist within the City of Cape Town, there are also support organisations that provide services to people who are either doing business or wanting to start a business in the city.

The City’s Small Business Support office, established to promote entrepreneurship and business-driven job placements, helps business people find the most appropriate support organisation and/or programme from a network of over 90 business development organisations (including financiers) in Cape Town. The value of this service is that it prevents entrepreneurs from wasting energy, money and time approaching the wrong support organisations and service providers or paying for services that are sometimes freely available or partly subsidised.

Service offering

• We provide the following services:

• Information and advice about City procedures, business assistance programmes, etc.

• Connecting businesses to the right City officials and resources.

• Assistance with resolving bottlenecks caused by a lack of knowledge of City processes, business-related issues, regulatory compliance, etc.

• Access to financial guidance in order to find the most suitable source of funding.

For assistance contact the Economic Development Department’s Small Business Support office on:

021 417 4043 or
e-mail pumla.mgwali@capetown.gov.za or
duncan.alcock@capetown.gov.za
(please always copy carlo.vizzi@capetown.gov.za).

Cape Town Development

The Projected rentals for the Cape Town Industrial Areas vary between  R25/m² and R55/m² for existing industrial space.

Security Parks such as Airport City, Montague Park in Montague Gardens and Brackengate on the R300 Corridor achieve the highest rentals in Cape Town. Older, less function properties in areas such as Parow, Beaconvale, Epping and Blackheath still have bargains to be had at R25/m².

For more detailed information please contact info@capeindustrialproperty.co.za or call us.