In spite of difficult trading conditions that have dogged the industry and the economy in general, De La Porte property management is proud to have managed to maintain steady growth.
“Positive action and diversification into property management three years ago has assisted this trend,” says the group’s principal, Jonty de la Porte.
The Commercial and Industrial market, and especially the Industrial market, last year reached an unhealthy equilibrium and the situation has not improved a great deal. Although there is not a lot of quality Industrial space on the market in the better areas, there is also not a lot of interest from tenants. ‘This obviously can’t be seen in a positive light, but it’s happened before and it is going to improve as the natural order asserts itself. The rental stagnation in the face of stock shortages is unusual, even in the context of lean times.”
Most of DLP’s better deals were sales to investors with cash, but the company recently concluded a large Industrial land sale for an owner-occupier in the Brackengate Industrial Park in Brackenfell.
In the meantime, DLP’s Property Management division continues to show growth with the addition of more Commercial and Industrial bodies corporate and freehold properties. “We also took the decision to enter the residential Sectional Title market and we added some landmark bodies corporate to the portfolio. We now manage properties, Property Owner Associations and Sectional Title schemes in Green Point, the City Bowl, Blouberg, Montague Gardens, Westlake, Claremont and Muizenberg,” concludes De La Porte.