Privately owned, developed, and managed mini-village of retail, residential, and office space – Melrose Arch – is the most valuable office space in South Africa. It overtook the 17th floor of Redefine Properties’ Convention Tower on Cape Town’s Foreshore, when someone paid R205 per square meter for office space, reports Financial Mail.
It is no coincidence that Melrose Arch is one of the most desirable corporate addresses in the country. It is one of the few places that has properly functioning roads, traffic management, parking facilities, offers optimal policing and security services, making it safe for kids to run around; it has a selection of uncongested shops, coffee shops, and restaurants amongst other things.
The reason? It is a privately owned and managed community. It is in the interest of the owners of Melrose Arch make it one of the best places in South Africa to work, live and relax.
What South Africa needs is a million (or more) such private enclaves of market anarchy backed onto one another, to make this country as great as it can potentially be.
Are you listening LeadSA?