1 m² Office to let in Waverley Business Park

About the Building

Overview of The Waverley Business Park. The Waverley Business Park is one of Cape Town’s most established mixed-use commercial developments, located on the border of Observatory and Mowbray. Originally converted from the historic Waverley Blanket Factory in the late 1980s, the park has evolved into a highly functional, multi-tenanted business environment offering offices, studios, light industrial units, and residential components. The park consists of 29 individual buildings, each with unique layouts and character, creating a flexible environment suited to a wide range of businesses, from creative agencies to tech firms, education providers, and light industrial operators. With over 31,800m² of rentable space, The Waverley remains a go-to option for companies prioritising value, accessibility, and operational flexibility in Cape Town’s central commercial corridor. Location: Observatory / Mowbray Commercial Node. The Waverley Business Park is strategically positioned just off Main Road, with direct access to the N2 (Settlers Way), one of Cape Town’s most important transport routes. This location places tenants within minutes of the CBD, while maintaining strong connectivity to both the Southern Suburbs and Northern Suburbs. Key distances: Observatory Station: ±3-minute walk. Mowbray Station: ±7-minute walk. N2 Highway: ±1-minute drive. N1 Highway: ±3-minute drive. Cape Town CBD: ±8-minute drive. This level of accessibility is a major driver behind the park’s consistently strong tenant demand. Property Features & Specifications. Total Development Size: Offices & studios: ±24,935m². Industrial / showroom space: ±3,815m². Residential flats: ±2,985m². Total rentable area: ±31,835m². Parking: Open bays: 301. Garage bays: 255. Total parking: 556 bays. Parking ratio: approx. 1 bay per 56m². Additional street parking available. Zoning: MU2 (Mixed Use 2). Allows for: Offices. Retail. Light industrial. Residential. Educational facilities. Restaurants and more. This zoning flexibility is one of the park’s strongest advantages, it allows businesses to evolve without needing to relocate. Rental Profile & Value Positioning. The Waverley Business Park is widely recognised as a value-driven alternative to more traditional A-grade office nodes like Claremont and Rondebosch. Current rentals: R120, R145/m² (excl. VAT). Market comparison (Southern Suburbs A-grade): R180, R250/m². This pricing gap is not accidental, it’s the reason many growing businesses choose The Waverley over more polished but significantly more expensive alternatives. Reality check:You’re not getting premium-grade finishes here, but you are getting flexibility, location, and cost efficiency. For many occupiers, that trade-off makes financial sense. Tenant Profile & Business Environment. The Waverley has built a strong reputation for attracting diverse, high-quality tenants, particularly in the creative, education, media, and tech sectors. Notable tenants include: Stanford University. Frogfoot Networks. Operation Smile. Cape Town Audio College. Cape Town College of Fashion Design. Trace TV. Seacom. This mix creates a dynamic ecosystem rather than a sterile office park, something that continues to appeal to modern businesses. Investment & Ownership Insights. The Waverley operates as a sectional title scheme (registered 1996), making it attractive to both owner-occupiers and investors. Historical cap rates: ±8%, 9%. Strong tenant retention. Consistently low vacancy levels. Potential future expansion: ±18,000m². From an investment perspective, this is not a speculative asset, it’s a steady, income-generating environment with proven performance over decades. Why Businesses Choose The Waverley Business Park? 1. Central Location Without CBD Pricing: You’re effectively sitting on the edge of the CBD without paying CBD rents. 2. Flexible Space Options: From small studios to larger hybrid office/industrial units, few parks offer this level of adaptability. 3. Strong Transport Links: Rail + highway access is a rare combination in Cape Town. 4. Established Tenant Ecosystem: Creative, tech, and education businesses cluster here, driving collaboration and relevance. 5. Practical, Not Pretentious: This isn’t a glossy corporate park. It’s functional, efficient, and cost-effective, which is exactly why it works. Who The Waverley Is Best Suited For? Creative agencies & production companies. Tech startups and scale-ups. Education and training institutions. Media and content businesses. Light industrial / hybrid operators. Value-conscious corporates. Final Take. The Waverley Business Park continues to outperform expectations because it solves a real problem in the Cape Town market: central, accessible space at a price that still makes business sense. If you’re chasing premium finishes, look elsewhere. If you’re chasing value, flexibility, and location, The Waverley remains one of the smartest plays in the Observatory / Mowbray node.

Building Details & Features

Key Features

• Fibre Internet
• Backup Power
• 24hr Security
• Access Control
• Air Conditioning
• Kitchen
• Boardroom
• Reception Area

Financial Information

All rentals exclude VAT & utilities. Confirm charge periods and which charges are included in the quoted rental with the broker.