Mungo
Skinny laMinx
Burger & Lobster
RETAIL OCCUPANCY RATES Retail space in the Central City is in constant flux thanks to the continuous development and refurbishment of commercial buildings. The economic effects of Covid-19 resulted in the closure of hundreds of retail outlets, slightly outpacing the opening of new establishments – resulting in a decrease in the retail occupancy rate across the Central City. SUMMARY OF TOTAL OCCUPANCY IN THE CENTRAL CITY
The total volume (m²) of retail space available across all four Central City precincts at the end of 2020 amounted to 270 176 m², marginally below the 274 605 m² recorded at the end of 2019. This was a decrease of -1.6 %. The total retail space occupied across all four Central City precincts at the end of 2020 amounted to 239 099 m², a decline 9 597 m² from 248 696 m² recorded at the end of 2019. This was a decrease of -3.9 %. Developments temporarily, or permanently, remove retail space, resulting in periods of vacancy while building is underway. This distorts the retail occupancy figure.
40
Total m²
Occupied m²
Vacant m²
P1
45 018
32 987
12 031
P2
100 595
90 114
10 481
P3
26 878
21 365
5 513
P4
97 685
94 633
3 052
TOTAL
270 176
239 099
31 077 (11.5 %)
11.5 %
The total vacancy rate of retail space (31 077 m²) across all precincts amounted to 11.5 % of the total retail space available.In 2019, the total vacancy rate was 9.4 %.
STATE OF CAPE TOWN CENTRAL CITY REPORT 2020
