Capricorn Park, a thriving mixed-use industrial park located near Muizenberg in Cape Town’s Southern Suburbs. Delving into the real estate significance of Capricorn Park
Origins and Historical Background: Capricorn Park began initially struggled to attract businesses to the complex. Its establishment was driven by the success experienced in Westlake, which offered much-needed industrial space in the Southern Suburbs. The original shareholders which included Nedbank, Grinaker, Brimstone, and PIC envisioned a technology and business hub that set new standards for environmentally friendly working spaces. These spaces were complemented by award-winning design guidelines. However, the economic downturn in 2008 led to liquidations and reduced demand for smaller businesses. Lower rental yields, higher vacancies, and declining land prices became a trend. Reversal and Transformation: In 2014, the tide turned. Capricorn Park’s fortunes reversed, and it emerged as a sought-after, modern industrial space, pivoting from its mixed-used zoning which sought higher office relative to warehouse premises. Land sale prices increased significantly and today Capricorn’s demand outstrips its supply. NuWater’s Impact: Capricorn Park is now home to striving businesses, both small and large, primarily light industrial users and some office spaces. The majority of the properties are sectional title and there is a mix of owner occupied premises and investment properties. The park has become synonymous with environmentally concscius businesses in line with the homeowners’ mandate and you will find a popular choice of food and beverage industries, along businesses demanding ‘clean’ and modern premises. Notably, NuWater, a proudly South African company, has its global headquarters here. NuWater specializes in desalination and wastewater treatment. The NuWater building, once the Convention Centre in Capricorn Park, underwent development to meet NuWater’s specifications. The surrounding dunes were rehabilitated as part of the build. The revamped NuWater head office offers majestic vistas of the Muizenberg mountains, False Bay coast, and the serene lake within the park. NuWater’s choice of headquarters aligns with Capricorn Park’s eco-centric ethos which focuses on minimizing environmental impact through projects related to water quality improvement, desalination, and wastewater remediation. In summary, Capricorn Park is highly sought-after space, attracting businesses and investors alike. Its strategic location, modern buildings, and commitment to eco-friendly practices make it an unparalleled choice for commercial properties and business operation.