Woodstock, Salt River and Observatory are among the oldest suburbs in Cape Town. Residential property, including Victorian terraced houses, as well as commercial or industrial real estate is available. Salt River and Woodstock have been included in an urban renewal initiative, raising the overall standard of these areas. They are now a vibrant, bustling mix of cultures as well as enterprises. All three areas have also become a popular tourist venue, offering tours to view the colourful graffiti, of which the residents are very proud. With its pulsating night-life, it is a hip-and-happening hub
“Real estate in this area is currently less expensive than elsewhere, resulting in properties being bought, revamped, then resold at profit. This is sure to continue to drive up the prices in the future.
Location and access
Woodstock extends from the docks to the slopes of Devil’s Peak, while Observatory stretches from the base of Devil’s Peak to Black River. Salt River lies between, extending south to Paarden Eiland.
The road infrastructure is good. The N1 plus N2 freeways flank the area while De Waal Drive traverses the base of the mountain. Victoria Road, Settlers Way, along with several other main thoroughfares, traverse the suburbs, allowing easy movement in all directions. Close proximity to Cape Town CBD is an asset, but also brings a certain amount of traffic pressure at peak times. The MiCiti buses along with Metro trains serve the whole city, with sufficient bus stops or stations located within this area. As always, minibus taxis are noisily available.
Commercial property
Clothing or textile factories once held the monopoly in Salt River and Woodstock but many closed down as imports replaced the local product. A variety of enterprises now occupy these properties. Revamped factories are now popular shopping malls like The Old Biscuit Mill and Neighbourgoods Market, The Palms Lifestyle Centre, or Bromwell Boutique Mall.
Large retail chain stores are situated along the main thoroughfares with boutiques, jewellers, craft shops, eateries of all types, breweries, coffee shops, art dealers or antique shops in between. There are many commercial properties offering office space, while industrial property is frequently available.
The SAPOA Office Vacancy Report does not include this area, so I would advise one to check online advertised rental costs in order to gauge current prices for commercial property. In the lower range, property may be rented per square metre at R40 to R80 while the middle range costs from R80 to R120. Per square meter, the upper range will cost from R120 to R170, while the premium range stands at R170 to R220.
Several company head offices are located in the area. For example: New Clicks Holdings Ltd., I & J, Col Cacchio Holdings, Bidvest Waltons, INTEC Cape, Take-a-lot Central Office or Whitehouse Linens.
Amenities
These trendy areas offer a variety of entertainment; from a bicycle café to the Galileo Open Air Theatre; from live music performances to a visit to South African Astronomical Observatory, besides wonderful beaches close by. There are not many hotels in this area, but there are plenty within the surrounding suburbs. Apartments or guest houses are plentiful.
Educational establishments include the Alpha School for the Autistic, Woodstock Academy of Music, Design Academy of Fashion, South African Maritime School and Transport Centre. Government, as well as independent primary plus high schools, are well represented.
Groote Schuur Hospital, Netcare UCT plus Valkenberg Psychiatric Hospital are situated in Observatory, while Woodstock has the Chapel Street Clinic. Doctors, lawyers, as well as other professionals are located in the area.
The burgeoning popularity of this district due to the urban renewal initiative can only drive property prices upward. Now is the time to invest in a commercial property or relocate your business to vibrant Woodstock, Salt River or Observatory.
