Cape Town · Est. 2020

Property
Managed
Brilliantly.

Cape Town's specialist in property management, brokerage and full turnkey development. Led personally by Karabo Maroane — every property, every tenant, every outcome.

Our Approach Start a Brief
Live Portfolio Overview
Property Management Dashboard Live
94%
Occupancy Rate
↑ 2.4% this month
R4.2M
Rent Collected
↑ On target
3
Open Tickets
↓ 5 resolved
The Bree Street Arcade
Mixed Retail · Cape Town CBD
R1.8M/mo
Active
Woodstock Exchange Units
Commercial Office · Woodstock
R920K/mo
Active
Parow Retail Node
Retail Strip · Northern Suburbs
R640K/mo
Review
Atlantic Seaboard Unit 4B
Commercial · Waterfront
—
Vacant
Updated 4 minutes agoManage your portfolio →
40+
Properties
94%
Occupancy
15+
Yrs Experience
Property ManagementTurnkey DevelopmentRetail LeasingSite AcquisitionBusiness ConsultingCape Town SpecialistsAsset OptimisationCommercial BrokerageProperty ManagementTurnkey DevelopmentRetail LeasingSite AcquisitionBusiness ConsultingCape Town SpecialistsAsset OptimisationCommercial Brokerage
Property Management

The heart of
everything
we do

Property management isn't a support service at Prime Asset Wield — it's our foundation and our specialisation. We treat every property as if it were our own, protecting your asset and maximising every rand of return.

Ready to hand over the complexity?

Let us manage your portfolio with the care and precision your investment deserves.

Discuss Your Portfolio
Tenant Management
Relationships that retain

From tenant vetting and onboarding through to lease renewals and exit management, we handle every touchpoint. Our proactive communication framework consistently reduces vacancy periods and improves tenant retention.

Tenant VettingLease AdminRenewalsDispute Resolution
Financial Management
Full financial oversight

Comprehensive rent collection, arrears management, financial reporting and budgeting. Real-time visibility for you, while we manage every reconciliation and compliance requirement on your behalf.

Rent CollectionArrears ManagementMonthly ReportingBudgets
Maintenance & Compliance
Protect your asset

Planned and reactive maintenance via a trusted contractor network. We manage all compliance certifications, COC, fire, and municipal requirements — keeping your building legal and your tenants satisfied.

Planned MaintenanceCompliance CertsContractor Network
Portfolio Optimisation
Grow your returns

Annual rental benchmarking, market analysis and strategic recommendations to keep your portfolio competitive and growing. We identify optimisation opportunities before they become missed ones.

BenchmarkingYield AnalysisGrowth Strategy
Lease Advisory & Drafting
Favourable terms, properly structured

Lease content matters as much as rental. We advise on lease structure, review and draft lease agreements to protect your position — covering rental escalations, maintenance obligations, deposit structures, renewal options, and all key commercial terms. Whether you are a landlord or tenant, we ensure the lease reflects what was agreed and is structured for long-term value.

Lease DraftingEscalation StructuringRenewal OptionsDeposit & TI TermsLandlord & Tenant Advisory
All Services

Everything under
one trusted roof

R2B+
Transacted Value

Brokerage & Retail Expertise

Connecting the right space to the right business — whether you are a landlord seeking quality tenants, or a business seeking its next location. Backed by deep market intelligence, national retailer relationships, and a track record of securing favourable terms for both sides.

Commercial Sales & Acquisitions — off-market access and negotiated outcomes
Lease Structuring & Advisory — favourable terms, lease drafting and content review
Retailer Placement — national brand relationships and trade area analysis
Tenant Mix Strategy — optimising income and foot traffic for landlords
Start a Brokerage Brief
40+
Projects Delivered

Turnkey Development

Full-cycle development management from initial site identification through to practical completion and handover. We manage every phase — so you experience only the outcome, not the complexity.

Site Identification to Handover — single point of accountability across every phase
Project Management — programme, quality and contractor oversight
Financial Management — CAPEX control, draw schedules and cost reporting
Operational Finance & Leasing — rent collection, tenant management and stabilisation
Start a Development Brief
Cape Town
Market Focus

Site Acquisition Consulting

Finding the right site is methodology, not luck. We conduct rigorous feasibility, market and zoning analysis, ensuring capital is committed to the right opportunity in the right location.

Site Identification & Assessment — market-led sourcing with full due diligence
Feasibility & Financial Analysis — before capital is committed
Zoning, Rights & Regulatory Navigation — Cape Town and broader SA regulatory landscape
Start Site Search
Strategic
Advisor

Business Consulting

Hands-on consulting for businesses navigating the commercial property landscape — from retail operators expanding footprint to investors structuring portfolios. Strategic clarity to move with confidence.

Portfolio Strategy — structure for growth and long-term value
Market Entry — reduce risk, accelerate entry
Lease Advisory & Drafting — lease content, terms and negotiation support
Book a Consultation
Karabo Maroane
Karabo Maroane
Principal · Prime Asset Wield
EnglishSothoXhosaAfrikaansTswana
About Karabo

Built from the
ground up.

"Property, at its best, does more than generate returns. It shapes how people live, trade, and connect. That's what keeps me in this industry."

Karabo Maroane brings over a decade of experience across the full property value chain — from site identification and feasibility through to lease negotiation, project delivery, and long-term asset management. The work has always been hands-on: commercially rigorous, but grounded in genuine relationships.

Prime Asset Wield was founded to offer clients direct access to that experience — without the layers of a large firm. Every mandate is handled personally, from the first conversation to the final outcome. The portfolio has spanned high-density retail centres, mixed commercial assets, and complex multi-stakeholder development projects across Southern Africa.

Fluent in five South African languages and equally at home in a stakeholder consultation or a deal negotiation, the ability to find workable solutions across different contexts has been as valuable as any technical qualification.

Qualifications
University of Johannesburg
Advanced Diploma in Real Estate
University of Pretoria
Certificate in Shopping Centre Management
Cape Peninsula University of Technology
Real Estate Diploma
PPRA Registered
Registered Property Practitioner — South Africa
Areas of Focus
↗
Site Sourcing & FeasibilityIdentification and rigorous analysis before capital is committed
▲
Development StructuringJV negotiation, deal architecture and funding strategy
⚫
Project ManagementEnd-to-end delivery from concept through to handover
☷
Financial ModellingBudgeting, forecasting, CAPEX and cost control
◌
Leasing & Lease AdvisoryLease structuring, negotiation and favourable terms
☀
Stakeholder EngagementGovernment, community and private sector navigation
15+
Years Experience
40+
Projects Delivered
R2B+
Assets Under Management
94%
Average Occupancy Rate
Interactive Tools

Run the numbers
yourself, properly.

Industry-standard property calculations built to SA methodologies and benchmarks. Pre-loaded with current market rates — adjust to your deal.

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Enter your inputs and calculate to see a full development appraisal including CAPEX, Valuation and profit on completion.

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Enter the property details to see a full yield and bond analysis.

Inputs — Retailer / Tenant
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OCR (Occupancy Cost Ratio) = total occupancy cost as % of turnover. Industry standard affordability benchmark.
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Enter your details to check affordability against industry OCR benchmarks.

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Developer's Desk

Quick reference for
aspiring developers

Whether you're exploring property development for the first time or refreshing your knowledge, these guides are here to help you build confidence. No gatekeeping.

1
Concept & Feasibility
Test whether a development is worth pursuing before spending significant money. Market research, site analysis, preliminary cost estimates, and a rough financial model to check if returns justify the risk.
Market ResearchSite AnalysisPreliminary CostsDemand Assessment
2
Due Diligence & Acquisition
Before committing capital, verify everything: title deeds, zoning rights, servitudes, municipal bulk availability and environmental constraints. Identify deal-breakers before you sign. Negotiate conditions that protect your position.
Title Deed CheckZoning CertificateSurveyor's DiagramBulk ServicesEnvironmental Screening
3
Design & Planning Approvals
Work with your architect, engineers and town planners to develop a scheme that meets municipal requirements. Submit for building plan approval and where needed, rezoning. In South Africa, planning approvals can take 3–18 months depending on complexity.
Architect BriefTown PlanningBuilding PlansRezoning (if req.)EIA (if triggered)
4
Finance & Procurement
Secure funding and appoint your contractor. Development finance in SA typically covers 60–70% of TDC, with the balance as equity. Prepare tender documents with a Bill of Quantities and evaluate submissions carefully.
Development FinanceEquity StructuringBOQ TenderContractor SelectionConstruction Contract
5
Construction
The visible phase — but the management is where value is protected. Regular site meetings, progress claim sign-offs, QS monitoring, variation order control, and clear communication. Always carry 10–15% contingency for the unforeseen.
Site EstablishmentProgress ClaimsQS MonitoringQuality InspectionsPractical Completion
6
Leasing, Handover & Management
Getting tenants in and making the asset perform. Occupation certificate, compliance certificates, snag lists, lease commencement, and transition into long-term asset management. This is where a development becomes an investment.
Occupation CertificateCOC CertsTenant Fit-OutLease CommencementAsset Management
Gross Yield
GY
Annual rental income as a percentage of property value, before deducting operating costs. A quick initial filter, but not the full picture.
GY = (Annual Rent ÷ Property Value) × 100
R780K annual rent on R8M property = 9.75% gross yield
SA commercial benchmark: 7–11%
Net Yield
NY
Gross yield after deducting operating costs — rates, management fees, insurance and maintenance. The number that tells you what you're actually earning.
NY = ((Annual Rent – Costs) ÷ Value) × 100
R780K income minus R140K costs on R8M = 8.0% net yield
SA net commercial target: 6–9%
Yield on Cost
YOC
Net operating income of a completed development divided by total development cost. The developer's core return metric — tells you if the project justifies the risk.
YOC = (NOI ÷ Total Dev Cost) × 100
R1.2M NOI on R12M TDC = 10% yield on cost
Target: 1.5–2% above market cap rate
Cap Rate
Capitalisation Rate
The market yield used to value income-producing property. Know the NOI and cap rate and you can estimate the asset's market value.
Value = NOI ÷ Cap Rate
R900K NOI ÷ 9% cap rate = R10M estimated value
SA retail: 7.5–9.5% • Office: 8–11%
NOI
Net Operating Income
Gross rental income minus vacancy allowance and operating costs, before financing costs. The "clean" income of a property, independent of how it's financed.
NOI = Gross Income – Vacancy – Operating Costs
R1.2M gross – R60K vacancy – R180K costs = R960K NOI
Core metric for valuations and lender assessments
TDC
Total Development Cost
Everything it costs to develop a property: land, construction, professional fees, financing costs and contingency. The denominator for most development returns.
TDC = Land + Build + Fees + Finance + Contingency
R3M land + R9M build + R1.5M fees + R1M finance = R14.5M
Always budget 10–15% contingency
0 of 14 completed
Title Deed VerificationConfirm ownership and check for bonds, caveats or interdicts registered against the property.
Zoning CertificateObtain from the municipality confirming current zoning and permitted uses for the site.
Surveyor's DiagramConfirm site boundaries, extent and servitudes. Essential before agreeing on pricing or layout.
Municipal Bulk ServicesConfirm available water, electricity, sewage and stormwater capacity for your intended development.
Geotechnical AssessmentUnderstand soil conditions before finalising build budgets. Poor soil means higher foundation costs.
Environmental ScreeningCheck for wetlands, heritage sites, flood lines or activities that may trigger a full EIA process.
Rates Clearance CheckConfirm no outstanding municipal rates or service arrears exist before signing any sale agreement.
Access & Road FrontageConfirm legal access and check for access restrictions, road widenings or servitude requirements.
Preliminary Cost EstimateGet an architect or QS to prepare a high-level cost estimate before finalising your purchase price.
Market Demand ValidationConfirm real demand for your intended use — tenant interest, comparable rentals and local vacancy rates.
Rezoning Risk AssessmentIf zoning doesn't permit your use, assess the time, cost and uncertainty of a rezoning application.
Competition AnalysisMap existing and planned competing developments in the catchment before committing to a programme.
Feasibility Financial ModelRun a full model: TDC, projected NOI, yield on cost, development margin and sensitivity analysis.
Finance Pre-qualificationApproach a DFI or bank early. Confirm the funding structure is viable before progressing to planning.
GLA — Gross Lettable AreaMeasurement

The total floor area that can be let to tenants, measured to the inner face of external walls. GLA is the standard measurement for commercial leases in South Africa and forms the basis for rental calculations.

Always clarify whether quoted rentals are based on GLA or NLA — this affects your actual cost per usable square metre.
NLA — Net Lettable AreaMeasurement

GLA minus common areas (lobbies, stairwells, bathrooms etc.). The actual usable area a tenant occupies exclusively. Typically 85–92% of GLA in commercial buildings.

Knowing the NLA/GLA ratio tells you how efficiently a building is designed for tenants.
Triple Net Lease (NNN)Lease Type

A lease where the tenant pays base rent plus all three "nets": property taxes, building insurance and maintenance costs. Highly favourable for landlords. Common with national retail tenants in SA.

Checkers, Pick n Pay etc. often negotiate NNN structures — understand what you're giving up before agreeing.
Rental EscalationLease Term

The annual increase in rental, specified in the lease. Typically a fixed percentage (7–9% pa is standard in SA commercial) or linked to CPI. Compounding escalations significantly affect long-term asset value.

A 10-year lease at 8% escalation roughly doubles the rental over the term.
Occupation Certificate (OC)Regulatory

Issued by the municipality to confirm a building was constructed in accordance with approved plans and is safe for occupation. Required before tenants can legally occupy a building. A building without an OC creates significant legal and insurance risk.

Never let tenants take occupation without a valid OC.
RezoningTown Planning

A formal application to change a property's land use zone to permit different or more intense development. Governed by SPLUMA and municipal by-laws. Can take 6 months to several years depending on complexity and municipal responsiveness.

Rezoning risk is a major factor in site acquisition — always factor in time, cost and uncertainty before pricing a deal.
Yield on CostFinancial

The developer's primary return metric: projected NOI of the completed development divided by total development cost. A good development should achieve YOC at least 1.5–2% higher than the prevailing market cap rate to compensate for development risk.

Market cap rate: 8.5%. Target minimum YOC: 10–10.5%.
Tenant Installation Allowance (TI)Lease Term

A cash contribution from the landlord to assist with the tenant's fit-out costs. Common when securing a new tenant in a shell building. Usually recovered through higher rental or a shorter rent-free period. Typical SA retail range: R500–R2,500/m².

Anchor TenantRetail Development

A large, well-known tenant that drives foot traffic and makes smaller satellite tenancies viable. Anchors typically pay below-market rentals in exchange for their drawing power. Securing an anchor commitment is often a prerequisite for development finance approval.

Structure the deal so satellite rental uplift justifies the anchor concession.
Sectional TitleOwnership

A scheme where individual units within a building are separately owned, while common property is jointly owned by all owners through a Body Corporate. Governed by the Sectional Titles Act. Most residential complexes and many commercial buildings in SA use this structure.

These are indicative benchmarks based on South African market conditions (2024–2025). Actual costs vary significantly by location, specification and market conditions. Always commission a professional QS for an accurate project estimate.
Building TypeBuild Cost RangeComplexityKey Notes
Retail Strip / Neighbourhood Centre
R9,000 – R14,000/m²
Low–MidShell & core, standard finishes
Regional Shopping Centre
R18,000 – R28,000/m²
HighFull spec, complex structure, M&E
Commercial Office — Grade A
R16,000 – R24,000/m²
Mid–HighFull M&E, finishes, lobby
Commercial Office — Grade B/C
R10,000 – R16,000/m²
MidStandard specification
Industrial / Warehouse (Basic)
R6,000 – R10,000/m²
LowPortal frame, concrete floor
Industrial / Logistics (High Spec)
R11,000 – R16,000/m²
MidSprinklers, dock levellers, HBL floor
Township Retail (Basic Shell)
R7,000 – R11,000/m²
LowGround floor, cost-conscious design
Mixed-Use (Retail + Residential)
R15,000 – R22,000/m²
Mid–HighWeighted average — varies by mix
Professional fees (architects, engineers, QS, PM) typically add 12–18% on top of construction cost. Finance costs during construction vary by rate and draw period — budget 6–10% of TDC for a 12–18 month build.
Start Your Brief

Tell us what
you need in
60 seconds.

No obligation, no jargon. Build your brief and Karabo will respond personally within one business day.

1 business day response guarantee
Reviewed personally by Karabo
No commitment required
Step 01 of 04
What are you looking to do?
🏚
Property Management
Manage existing assets professionally.
🔑
Find the Right Space
Find the right tenant space or the right space for your business.
🏗
Develop a Site
Build from concept to completion.
💡
Expert Consulting
Strategic advice and market guidance.
Step 02 of 04
What sector are you focused on?
🛍
Retail
Shopping centres, strips, high street.
🏢
Commercial
Office parks, business nodes.
🏭
Industrial
Warehousing and logistics.
🏙
Mixed-Use
Integrated retail and commercial.
🏠
Hospitality
Hotels, F&B, leisure venues.
🔍
Not Sure
We'll help figure it out.
Step 03 of 04
What's your timeline?
⚡
Immediate
Ready to move within 0–3 months.
📅
Short-term
Planning horizon of 3–12 months.
📆
Medium-term
Strategic planning over 1–3 years.
📈
Long-term
Building a long-term portfolio.
Step 04 of 04
Let's start the conversation.
✓
Brief received.

Karabo personally reviews every brief and will be in touch within one business day.

Current Projects

Active across
Cape Town & beyond

A selection of current and recently completed mandates. Details shared on request.

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Contact

Let's build
something
together

Every good property outcome starts with an honest conversation. Reach out directly — we respond to every inquiry personally.

Location
Cape Town, Western Cape, South Africa
Email
karabo@primeassetwield.co.za
Phone
+27 79 668 9666