Let’s get down to business – working in Century City
To office or not to office, that is the question. The biggest shift to take place in the history of commercial property, has taken place over the last 18 months. Where the term digital nomad and working from home was only reserved for a seemingly enlightened few, corporates worldwide caused a tsunami in the office industry by announcing long-term plans of allowing their staff to work from home on either a permanent or hybrid basis.
While we’re not any closer to understanding the long-term impact and while firms still seem to be in limbo, landlords have been taking the brunt of empty space. As employers try to lure their staff back with additional benefits and incentives, the future plans of developers and landlords have had to adjust quickly and navigate into unchartered waters.
To office or not to office, that is the question. The biggest shift to take place in the history of commercial property, has taken place over the last 18 months.
“I believe that people will return to offices, whether in a permanent or hybrid format”, says Colin Anderson, COO at Rabie. “Working from home is only ideal for a select few, and even then, the loss of physical interaction with people, maintaining a company culture and sense of united vision becomes challenging. Some companies are also starting to realise that loss of productivity starts to outweigh some of the accommodation cost savings they are making.”
In terms of what people are looking for in offices, Anderson believes that mixed-use nodes are the way to go. “People want to work in an environment where everything is within safe walking distance – gym, coffee shops, restaurants and green open spaces. Lifestyle has become an expectation and working in nodes such as Century City makes so much sense. Not only do you have access to an array of retail and eating places, but you also have greenery, world-class security and the option to live close to work.”
Cape Town, ‘South Africa’s Silicon Valley’ boasts more than 450 tech firms and home to close to 60% of South Africa’s start-ups according to a recent article by Techfinancials.co.za.
“Century City is the ideal place for tech firms and the ITC industry. It offers smart, green buildings that are located in Cape Town’s only in-practice smart city.” says Jason Elley, Broker Liaison at Rabie. “Bridgewater, our latest development, offers three different working solutions – all within a vibrant, mixed-use setting. You can park in the basement when you arrive and walk everywhere you need to be for the rest of the day. From exercising, grabbing a coffee, going to the office and setting up lunch meetings. Everything is at your fingertips so, that you can focus on your business without distractions and wasting time on commuting. We’ve got it all right here!”
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