V&A Waterfront: Cape Town's Unrivalled Commercial Hub
The V&A Waterfront remains a premier destination for commercial property in Cape Town, offering a unique blend of office, retail, and hospitality assets. Its strategic location, world-class amenities, and consistent demand underpin its status as a resilient and high-performing investment node.
Q1 2026 Snapshot
office Market
2.5%
Prime Vacancy
As of Q1 2026
Average Prime Rental:R285/m²
Net Absorption (Q4 2025):+5,200 m²
Tenant Retention Rate:90%
New Supply Pipeline:Limited
industrial Market
1.8%
Light Industrial Vacancy
As of Q1 2026
Average Rental (Nearby):R110/m²
Demand Drivers:Logistics, Marine Services
New Development:Minimal
Yields:7.5% - 8.5%
retail Market
3%
Prime Vacancy
As of Q1 2026
Average Prime Rental:R550/m²
Foot Traffic Growth (YoY):+12%
International Tourist Spend:Significant contributor
Experiential Retail Focus:High
Economic Context
8.25%
Repo Rate
Stable since July 2025
As of January 2026
11.75%
Prime Lending Rate
Stable since July 2025
As of January 2026
5.2%
CPI (YoY)
Slightly decreasing
As of December 2025
+15%
International Tourist Arrivals (YoY)
Strong growth
As of Q4 2025
Key Market Trends
Hybrid Work & Office Adaptation
The V&A Waterfront office market continues to thrive despite hybrid work models, driven by a flight-to-quality trend. Companies seek premium, amenity-rich spaces that attract and retain talent, aligning perfectly with the V&A's offering.
- Demand for flexible, collaborative spaces is increasing.
- Occupiers prioritize wellness amenities and sustainable building features.
- Vacancy rates remain low for P-Grade and A-Grade spaces.
- Rental growth in prime office assets continues to outpace inflation.
- Limited new supply pipeline supports strong market fundamentals.
Experiential Retail Dominance
Retail at the V&A Waterfront is increasingly focused on unique experiences and high-end offerings, catering to both local and international visitors. This strategy has proven resilient against e-commerce pressures, maintaining high foot traffic and strong tenant demand.
- Strong performance in luxury brands and unique concept stores.
- Food & beverage sector continues to be a major drawcard.
- Tourism recovery is a significant driver of retail sales.
- Landlords are investing in precinct upgrades to enhance visitor experience.
- Low vacancy rates reflect robust demand for prime retail frontage.
Sustainability & Green Building Focus
Sustainability is a core focus for new developments and existing assets within the V&A Waterfront. Green building certifications and eco-friendly operations are becoming standard, attracting environmentally conscious tenants and investors.
- High demand for Green Star rated buildings.
- Investment in renewable energy sources and water conservation.
- Tenants increasingly request ESG compliance from landlords.
- Reduced operational costs through energy efficiency are a key benefit.
- The precinct aims for carbon neutrality in its long-term strategy.
Residential Demand Spillover
The scarcity of prime residential property within the V&A Waterfront continues to drive strong demand and price growth. This spillover effect benefits adjacent luxury residential developments, reinforcing the precinct's appeal as a live-work-play environment.
- Apartment sales prices continue to set new benchmarks.
- Rental yields remain attractive for investors.
- Limited new residential supply ensures sustained capital appreciation.
- High demand from both local and international buyers.
- Integrated lifestyle offering is a key selling point.
Notable Transactions
The Ridge Office Tower
November 2025 • Lease
R310/m²
A leading international tech firm secured 3,500 m² of P-Grade office space at The Ridge, reflecting strong demand for premium, sustainable office environments.
Waterside Place Retail
December 2025 • Lease
R620/m²
A luxury fashion brand opened its flagship store, securing a prime 450 m² retail unit, highlighting the V&A's appeal to high-end retailers.
Silo 3 Office Block
October 2025 • Lease
R295/m²
A financial services company expanded its footprint by leasing an additional 1,200 m² in Silo 3, demonstrating confidence in the precinct.
Pierhead Development
September 2025 • Development
R850 Million
Approval granted for a mixed-use development comprising boutique hotel, premium office, and retail, further enhancing the precinct's offering.
Breakwater Office Suites
January 2026 • Lease
R260/m²
A co-working space provider secured 800 m² in Breakwater, catering to the growing demand for flexible office solutions within the V&A.
Robust Growth Expected Across All Sectors
The V&A Waterfront's commercial property market is poised for continued robust growth in 2026. Its unique value proposition, underpinned by strong demand, limited supply, and a world-class mixed-use environment, will ensure sustained performance across office, retail, and industrial sectors.
Office
The office sector will maintain its premium status, with P-Grade and A-Grade assets experiencing low vacancy and steady rental growth. Flight-to-quality will continue to drive demand, particularly for sustainable and amenity-rich spaces. New supply will remain constrained, supporting landlord leverage.
Retail
Retail performance is expected to remain strong, buoyed by continued tourism recovery and high local foot traffic. Experiential and luxury retail will lead the charge, with landlords focusing on curated tenant mixes and precinct enhancements. Vacancy rates will stay low, especially for prime locations.
Industrial
While limited within the immediate V&A, the surrounding light industrial and marine services sector will see stable demand. Rentals will continue to grow modestly, driven by logistics and support services for the precinct and port activities. Vacancy will remain tight in well-located nodes.
Investment Considerations
Opportunities
- Acquisition of existing P-Grade office assets with strong tenant covenants.
- Development of niche luxury retail or F&B concepts.
- Investment in boutique hospitality assets or serviced apartments.
- Redevelopment of older B-Grade buildings into modern, sustainable A-Grade spaces.
- Strategic partnerships in mixed-use development projects.
- Logistics and last-mile delivery facilities in adjacent industrial nodes supporting V&A operations.
Risks
- Global economic slowdown impacting tourism and consumer spending.
- Sustained high interest rates affecting development viability and borrowing costs.
- Increased operational costs (utilities, security) impacting net operating income.
- Potential for oversupply in specific sub-sectors (though low for V&A).
- Geopolitical instability affecting international travel.
Building Directory
13 commercial buildings surveyed in V&A Waterfront
Building specifications are based on available market data. GLA, parking, and rental figures should be confirmed with the landlord or leasing agent during due diligence.
Grade PThe Silo
Silo Square, V&A Waterfront
Discover The Silo, a landmark P-Grade office building at the V&A Waterfront, Cape Town. Offering 15,000m² of premium, Green Star rated office space with breathtaking harbour views. Integrated with the iconic Silo Hotel and Zeitz MOCAA, it provides a unique work environment with world-class amenities and excellent accessibility. Ideal for businesses seeking a prestigious address and sustainable operations in Cape Town's most sought-after precinct. Experience luxury, innovation, and unparalleled connectivity at The Silo.
GLA15,000 m²
Floors6
Parking250 bays (4:100)
RentalR290 - R320/m²
Iconic architectureGreen Star ratedHarbour viewsIntegrated with Silo Hotel & Zeitz MOCAABackup power & water
"The Silo offers unparalleled prestige and modern amenities, making it a top choice for discerning P-Grade tenants seeking a unique V&A address."
Grade PThe Ridge
Portswood Road, V&A Waterfront
The Ridge at V&A Waterfront stands as a beacon of modern P-Grade office design in Cape Town. This Green Star rated building provides 10,500m² of prime office space across 5 floors, boasting panoramic views and state-of-the-art infrastructure. With excellent access to the V&A's vibrant amenities and a focus on sustainability, The Ridge is perfect for companies prioritizing a prestigious, eco-conscious, and dynamic work environment. Secure your space in this sought-after commercial hub.
GLA10,500 m²
Floors5
Parking180 bays (4:100)
RentalR280 - R310/m²
Contemporary designGreen Star ratedPanoramic viewsAccess to precinct amenitiesHigh-speed fibre
"A cutting-edge P-Grade development, The Ridge offers highly efficient and sustainable office space, attracting top-tier corporate tenants."
Grade AWaterway House
Dock Road, V&A Waterfront
Waterway House, a prominent A-Grade office building at the V&A Waterfront, offers 18,000m² of modern commercial space over 7 floors. Enjoy stunning waterfront views, large flexible floor plates, and premium finishes. Its strategic location provides direct access to the V&A's renowned retail and dining experiences, making it an ideal choice for businesses seeking a vibrant and convenient corporate address in Cape Town. Benefit from robust security and ample parking.
GLA18,000 m²
Floors7
Parking300 bays (5:100)
RentalR260 - R290/m²
Waterfront viewsModern finishesLarge floor platesOn-site securityClose to retail
"Waterway House offers expansive A-Grade office space with excellent views and direct access to the V&A's core, ideal for larger corporates."
Grade APortswood House
Portswood Road, V&A Waterfront
Portswood House presents 9,500m² of quality A-Grade office space in the V&A Waterfront, Cape Town. This four-story building features recently refurbished interiors, abundant natural light, and flexible office layouts to suit diverse business needs. Located conveniently near MyCiTi bus routes and the V&A's amenities, it offers a secure and accessible work environment. An excellent option for companies seeking a prestigious V&A address at a competitive rental rate.
GLA9,500 m²
Floors4
Parking150 bays (4:100)
RentalR250 - R280/m²
Refurbished interiorsNatural lightSecure accessClose to MyCiTi bus stopFlexible layouts
"A well-maintained A-Grade building offering competitive rentals for its prime V&A location, suitable for a range of businesses."
More Commercial Buildings
Grade AClock Tower Precinct
Clock Tower Road, V&A Waterfront
Experience the unique blend of history and modernity at Clock Tower Precinct, offering 12,000m² of A-Grade office space in the V&A Waterfront. This fi...
GLA12,000 m²
Floors5
Parking200 bays (5:100)
RentalR240 - R270/m²
Historic charmModern office fit-outsWaterfront accessVariety of unit sizes
"A unique blend of heritage and modernity, offering A-Grade offices in a vibrant, historically significant part of the V&A."
Grade AUnion Castle House
Dock Road, V&A Waterfront
Union Castle House offers 7,000m² of refurbished A-Grade office space within a historic heritage building at the V&A Waterfront. This three-story prop...
GLA7,000 m²
Floors3
Parking100 bays (4:100)
RentalR230 - R260/m²
Heritage buildingRefurbished officesCentral locationGood natural light
"A beautifully restored heritage building offering charming A-Grade office space in a highly accessible V&A location."
Grade BBreakwater Office Suites
Breakwater Blvd, V&A Waterfront
Breakwater Office Suites provides 5,500m² of functional B-Grade office space at the V&A Waterfront, offering a cost-effective solution for businesses ...
GLA5,500 m²
Floors4
Parking80 bays (3:100)
RentalR190 - R220/m²
Cost-effective V&A addressFlexible office layoutsClose to UCT GSBSecure environment
"Offers a more affordable entry into the V&A market with functional B-Grade offices, popular with smaller firms and startups."
Grade BPierhead Offices
Pierhead, V&A Waterfront
Pierhead Offices offers 4,000m² of B-Grade office space directly on the V&A Waterfront's working harbour. These refurbished units provide unique views...
GLA4,000 m²
Floors3
Parking60 bays (3:100)
RentalR180 - R210/m²
Harbour proximityRefurbished unitsViews of working harbourOn-site amenities
"Functional B-Grade offices with the unique appeal of being directly on the working harbour, offering a distinct V&A experience."
Grade BAlfred Mall
Alfred Road, V&A Waterfront
Alfred Mall provides 3,000m² of B-Grade office space in a mixed-use building on Alfred Road, V&A Waterfront. Offering an affordable entry into this pr...
GLA3,000 m²
Floors2
Parking40 bays (2:100)
RentalR170 - R200/m²
Mixed-use buildingRetail on ground floorGood natural lightAffordable V&A option
"A solid B-Grade option for smaller tenants seeking an affordable V&A address with the convenience of ground-floor retail."
Grade AVictoria Wharf Offices
Victoria Wharf Shopping Centre
Victoria Wharf Offices offer 6,000m² of premium A-Grade office space situated directly above the iconic Victoria Wharf Shopping Centre at the V&A Wate...
GLA6,000 m²
Floors2
Parking120 bays (4:100)
RentalR270 - R300/m²
Above prime retailDirect access to mallHigh foot traffic areaSecure parking
"Premium A-Grade offices directly above the bustling Victoria Wharf, offering unparalleled convenience and exposure."
Grade AThe Yacht Club
Foreshore, Cape Town (adjacent to V&A)
The Yacht Club, an impressive A-Grade development on the Foreshore adjacent to the V&A Waterfront, offers 10,000m² of modern office space. With stunni...
GLA10,000 m²
Floors8
Parking180 bays (4:100)
RentalR220 - R250/m²
Modern developmentHarbour viewsHotel & residential integrationClose to CTICC
"A modern A-Grade development adjacent to the V&A, offering excellent value and connectivity for businesses seeking proximity."
Grade BGranger Bay Court
Granger Bay Blvd, V&A Waterfront
Granger Bay Court provides 3,800m² of established B-Grade office space on Granger Bay Boulevard within the V&A Waterfront. Offering functional office ...
GLA3,800 m²
Floors3
Parking50 bays (2:100)
RentalR160 - R190/m²
Established buildingFunctional office spaceSea views from some unitsSecure parking
"Offers practical B-Grade office solutions with the benefit of a V&A address, often at a more accessible price point."
Grade CThe Old Port Captain's Building
Dock Road, V&A Waterfront
The Old Port Captain's Building offers 1,500m² of character-filled C-Grade office space, a historic landmark at the V&A Waterfront. This unique two-st...
GLA1,500 m²
Floors2
Parking15 bays (1:100)
RentalR120 - R150/m²
Historic landmarkCharacter-filled officesAffordable V&A entryUnique atmosphere
"A charming C-Grade option for tenants seeking a unique, character-filled office in a prime V&A location at an entry-level price."
Rental Rates by Building Grade
Office rental rates in V&A Waterfront (R/m²/month)• As of Q1 2026
| Grade | Asking (R/m²) | Achieved (R/m²) | Trend | Notes |
|---|
| Premium | R280/m² - R320/m² | R275/m² - R310/m² | ↑+5.5% | Prime P-Grade rentals continue to show strong growth due to limited supply and high demand for top-tier, sustainable spaces. |
| A Grade | R230/m² - R290/m² | R225/m² - R280/m² | ↑+4% | A-Grade properties benefit from the flight-to-quality, with consistent demand pushing rentals upwards, albeit at a slightly slower pace than P-Grade. |
| B Grade | R160/m² - R220/m² | R155/m² - R210/m² | ↑+2.5% | B-Grade rentals show modest growth, driven by businesses seeking a V&A address at a more accessible price point. Refurbished units perform best. |
| C Grade | R120/m² - R150/m² | R115/m² - R145/m² | →+1% | C-Grade properties are scarce and typically older, character-filled buildings. Rentals are stable, appealing to niche tenants valuing location over modern amenities. |
Residential Property Market
Residential property prices and trends in V&A Waterfront• As of Q1 2026
🏢
Apartments
Median Sale Price
R12 500 000
↑ 8% YoY
Median Rental
R45 000/pm
↑ 6.5% YoY
Low Stock
V&A Waterfront apartments are highly sought after, with extremely limited stock driving significant price and rental growth. These figures are estimates based on recent high-value transactions.
🏘️
Townhouses
Median Sale Price
R25 000 000
↑ 7% YoY
Median Rental
R75 000/pm
↑ 5% YoY
Very low Stock
Townhouses within the immediate V&A are exceptionally rare, commanding ultra-premium prices. Data is based on very limited historical transactions and current market sentiment.
Transport & Accessibility
Public transport and commute times from V&A Waterfront
Public Transport Routes
🚌MyCiTi A01 (Waterfront - Civic Centre - Adderley)
Every 10-15 mins (peak)
To: Cape Town CBD, Civic Centre, Adderley Street
🚌MyCiTi T01 (Dunoon - Century City - Waterfront)
Every 15-20 mins (peak)
To: Century City, Dunoon, Table View
🚐Local Taxi Ranks
High
To: Various Cape Town suburbs
Estimated Commute Times
Drive times are indicative averages and vary with traffic, route, and time of day.
| Destination | Distance | Peak Traffic | Off-Peak |
|---|
| Cape Town CBD | 3 km | 15 min | 8 min |
| Cape Town International Airport | 22 km | 35 min | 25 min |
| Century City | 15 km | 25 min | 18 min |
| Claremont | 12 km | 30 min | 20 min |
🚶Walkability: High
The V&A Waterfront is designed as a pedestrian-friendly precinct with extensive walkways, public spaces, and direct access to numerous amenities, retail, and dining options. Most daily errands can be accomplished on foot within the precinct.
🚍Transit Access: High
Excellent connectivity via the MyCiTi bus rapid transit system, with multiple routes serving the V&A Waterfront and linking to the CBD and other key nodes. Taxi services are also readily available, providing comprehensive public transport options.
Last Updated: February 2026•Next Update: May 2026