The eastern part of Cape Town’s CBD is developing fast, with affordable residential and commercial space becoming available. Cape Town’s East precinct is where the CBD meets District Six. Streets such as Buitenkant, Roeland and Harrington are part of this section of the city, also known as the Gardens area.
As prices across the city continue to rise, this part of town offers uniquely affordable office premises. And a trendy, creative atmosphere. Let’s take a look at the eastern precinct’s recent development and it’s promising future potential.
CBD looks east for new developments
A few years ago, the eastern precinct wasn’t too high on the list of trendy Cape Town locations. The faster pace of development in the historic CBD, Foreshore and De Waterkant overshadowed the east. Historically, the atmosphere had always been semi-industrial and building vacancies high.
Today, developers have turned the spotlight on the eastern CBD. The area begins just east of the Parliamentary complex and includes icons like the Townhouse Hotel.
With new, trendy office buildings being built and older ones renovated, a new wave of entrepreneurs and start-ups are calling the eastern precinct home. The city’s coffee culture has also spread to the area, with several unique artisanal coffee shops lining the streets.
Developers seek value in the east
With other parts of the CBD in full flourish, the eastern precinct provides unique investment opportunities for property investors at excellent prices. More than R1.5 billion in new developments has been planned for the area. Designated a creative hub by the municipal government, the eastern CBD’s future looks excellent.
A new, inclusive city is on the horizon
While new developments are good for the city’s economy, they also serve a crucial social purpose. One of the eastern precinct’s closest neighbours, District Six, is emerging from its difficult past – and it now has a unique opportunity to develop along with the CBD.
As developers work closely with the City of Cape Town to transform the eastern part of the CBD, a new, integrated urban environment could be on the horizon. With residential and commercial spaces available at every price point, Cape Town’s business hub can look forward to a very successful future.
If you’d like to share in the CBD’s recent success by buying or leasing a commercial property in Cape Town’s East precinct area, contact us today. Our team is on hand to assist you with any queries you may have.
