Parking in Cape Town a scarce commodity

Parking in Cape Town is a scarce commodity, but a new development in one of the city’s high-demand areas is offering buyers a chance to get their very own space – at a premium.

According to the latest investor presentation from Tower Property Group, parking bays which form part of its new development on Napier Street in De Waterkant in Cape Town will be sold for around R570,000 a bay.

The group is building a three-level underground parking garage, which runs along the length of the street, as part of the development, which will offer 141 parking bays for those who are willing to fork over the money to have somewhere to park.

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