Innovative repurposing of stadiums and precincts inspires new workspaces
Commercial properties in Cape Town are constantly changing and evolving as developers find innovative ways to remodel under-utilised or disused venues. For a historical city like Cape Town, the possibilities for the renewal and repurposing of stadiums are endless.
Let’s take a closer look at what’s happening in Newlands as part of a new trend to breathe life into old stadiums and precincts that’s set to confirm the Mother City’s reputation as an innovative design capital.
A second innings for Newlands as a commercial hub
Cricket is an evergreen favourite in Cape Town, and Newlands Cricket Ground holds a special place in the history of the sport in South Africa.
With the rezoning and transformation of buildings within stadiums such as Newlands Cricket Ground (NCG) which overlooks the iconic sports venue, cricket fans will no longer need a reason to leave the office for a quick look at their favourite team playing an ODI or five-day test match.
The proximity to Cape Town CBD, Claremont and Newlands makes developments like NCG the ideal choice for Capetonian business owners who share a love of cricket.
Newlands Cricket Ground offers a lot more than beautiful vistas featuring the cricket grounds.
With over 25 000 square metres of leasable space within the NCG, from 50 m2 to 6 000 m2 and additional facilities like meeting rooms and floor to ceiling glass viewing decks on the third floor, this mixed-use sport and commercial development is a prime location for small to medium size businesses.
Scenic, fun and liveable developments like this are especially suitable for companies with teams returning to the office after the pandemic shutdowns and work from home period.
Embracing a frictionless working future
Whether it’s an office overlooking Newlands or premises at the Foreshore with the Green Point stadium and park just a short walk away, commercial properties in Cape Town are increasingly being built near stadiums and sporting facilities.
The visual appeal of these properties, and the ease of taking in a game or match, contribute greatly to the wellness of building users.
Other factors like an easy commute, the availability of bicycle lanes and public transportation, good restaurants and coffee shops in the surrounding area, and plenty of greenery with good security as a given all come together to attract high quality tenants.
The pandemic has driven home the need for good health, both mental and physical, and a place that offers team members the opportunity to practice wellness will help them to feel happy and motivated after years of working in the comforts of their homes.
Business owners and commercial property investors will want to pay special attention to this trend because buildings that don’t have something special to offer are likely to struggle to attract tenants in the medium to long term.
A new lease on life for white elephant stadiums?
Since FIFA 2010, concerns have been raised about the sustainability of football stadiums that were built for this world-class event. With local soccer fans unwilling to pay the high-ticket prices necessary to maintain high-level stadiums, repurposing of stadiums and other such structures may be an excellent solution for developers.
Alternatively, making stadiums the focal point of the surrounding area is a great way to keep them intact and available for sporting events while reinvigorating the local economy.
While the Newlands cricket ground is far from being a white elephant, even this popular sports venue will benefit from the presence of mixed-use developments like NCG which could draw potential spectators after working hours.
Know your lifestyle, choose your theme, and find an office that’s perfect for your business
Office buildings that feature a theme, be it cricket, the Cape Town nautical lifestyle, green spaces, or the buzzing cosmopolitan vibe of the inner city, are more likely to attract a specific type of tenant who shares those interests and identifies with the area.
This makes matching these office units with stable long-term rentals easier for professional agents, and in turn gives building owners confidence in a reliable long-term cash flow. Some owners may be more amenable to offering tenants favourable contract conditions and other perks in exchange for reliable cash flow.
Simply put, working stadiums such as Newlands Cricket Ground that are pleasant to work in are likely to attract a higher occupancy rate – and that’s good news for tenants and owners alike.
If you’d like to work in a modern, scenic office environment with fantastic sports events right on your doorstep, the Commercial Space team is here to help.
Please contact Phillippa Gray, our area specialist on 076 052 5237 for more information on available spaces at Newlands Cricket Ground. Alternatively, get in touch with our team online to discuss your commercial or industrial property requirements.
