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RETAIL OCCUPANCY RATES Retail is big business in the Cape Town CBD: out of the 3 090 private formal enterprises to be found in the Central City, 1 038 (as at December 2018) were classified as retailers. While growth rates and rising costs have placed household finances under continued pressure, the Central City’s retail occupancy rate has remained steady at 93% in

December 2018 – unchanged from December 2017. The East City, in particular, is becoming a retail and entertainment hub. According to the CCID’s retail survey, several new retail and entertainment venues opened during the course of 2018. These are the two most prominent business sectors in the area.

Precinct 1

Despite a lagging economy, a notable trend is the increase in artistic studios and art galleries in the CBD, influenced by an influx of buyers and collectors seeking to invest in South African and African artistic talent. Another highlight in the CBD’s retail environment is the rise of food retail, which has also surged in the last year. Research shows that 153 restaurants

Precinct 2 DEC 2018

DEC 2017

DEC 2018

DEC 2017

Total retail space available in precinct (m²)

45 552

47 956

Total retail space available in precinct (m²)

93 757

92 756

Street-level retail space

45 552

47 956

Street-level retail space

81 147

80 146

Inside shopping centres (m²)

N/A

N/A

12 610

37 775

38 999

Inside shopping centres (m²): Picbel Parkade

12 610

Space occupied (m²) Occupancy as a %

83%

81%

Space occupied (m²)

88 391

88 474

Occupancy as a %

94%

95%

COMMENTS ON PRECINCT 1: COMMENTS ON PRECINCT 2:

Total retail space in P1 dropped by 2 404m² during the course of last year. The decline was largely due to renovations which resulted in retail space being absorbed into the new Netcare Christiaan Barnard Memorial Hospital.

P2 saw a slight increase in retail space available, resulting in a slight drop (1%) in occupancy year-on-year.

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Profile for Cape Town Central City Improvement District

The State of Cape Town Central City Report 2018  

Looking back at 2018 in terms of the economic and investment climate of the Cape Town CBD.

The State of Cape Town Central City Report 2018  

Looking back at 2018 in terms of the economic and investment climate of the Cape Town CBD.

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