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Growthpoint Properties concludes R100m warehouse development
Growthpoint Properties Ltd and Grundfos South Africa have concluded a leasing deal where Growthpoint will develop a 10 000 m2 building in Meadowbrook, Germiston, custom designed to give Grundfos a 100% fit.
Johannesburg Commercial Property Report : 2011 4th Quarter
Jones Lang La Salle has just released its Q4 2011 on the status of the commercial property market in Johannesburg. Office Market Despite the flat line economy seen during the last quarter of 2011, an improvement in office space rentals helped to secure minimal increases and reduced vacancies in the more prominent nodes in the Johannesburg office market.
Office space vacancies reducing in Growthpoint’s portfolio
When Growthpoint successfully leased two prime office blocks in Cape Town recently, it’s vacancy footprint in that city moved below 5%. SAPOA’s statistics for the Cape Town CBD show that office space vacancies stand at 10.2% while the high demand nodes of Century City and the V&A Waterfront stand at 8.7% and 5.7% respectively.
Commercial property sales boost Emira Property Fund by R260m
Since the beginning of its 2012 Financial year Emira property Fund (EMI) has raised in excess of R260m through the sale of eleven properties in its portfolio.
Upmarket Katherine & West Office Development Selling Well
Almost 40% of the Katherine West Development in upmarket Sandton has been sold. With 4 of the 7 penthouses sold off plan and with another 10% of the total office space currently under negotiation, this development is set to become a landmark in prestigious office space.
Commercial Property Becomes New Market Indicator
In an interview with Jason Lee, the Head of Rawson Property’s new Commercial Franchise Division, the following facts emerged:
Growthpoint in R52m warehousing deal
Growthpoint Properties has concluded a lease deal valued at R 52 million with Bidvest Panalpina Logistics (BPL) in Rossburgh, KwaZulu Natal. This ranks as one of the biggest warehousing leasing deals in the Durban port area.
SAPOA appoints 2 new directors
Marius Muller and Mike Deighton are the newest additions to the Board of Directors of SAPOA (South African Property Owners Association).
Government announces Special Economic Zones Bill approval
The South African Government has approved the publication of a bill which outlines the establishment of Special Economic Zones which, unlike current Industrial Development Zones (IDZs), can be situated in areas not physically associated with a harbour or airport.
Empty office space being bought for billions
In these times where the global economy is under extreme pressure and the demand for vacant office space is dropping, JSE Property Funds are spending billions buying existing office buildings.
Commercial Property regulated for Green Development
In a welcome move, the building regulations in South Africa have been revamped with effect from 9 November 2011 to emphasize minimum energy efficiency standards. SABS has now completed development of SANS 10400 Part XA, a set of minimum standards for environmental sustainability in new and refurbished buildings.
Leasing Commercial Property? Read this First
Entering into a new lease for commercial property or renewing an existing lease is one of the biggest commitments which a business can make. Every business needs premises and when a long term commitment (3 years or longer) is made, either for warehousing, factory or office space, it is surprising how many landlords and renters need assistance with negotiations. However, it is a fact of life that leases have to be renewed at some time.
Office Space gets the Green Light
The value in renting energy efficient office space has increased significantly over the past few years for businesses all over South Africa. Occupying office space in a Green Building not only allows you to save money on monthly utility bills, it also boosts company moral value.
Industrial Property Overview Q3 2011
Contained in the latest industrial property figures released by SAPOA for the third quarter of 2011, the following facts re industrial property have emerged: • Prime gross rentals for industrial property have remained stagnant • Prime yields for industrial property is also stable at 9.25% • Vacancies for industrial property are up at 7%
Johannesburg Office Space Overview – Q3, 2011
Johannesburg office space figures were recently released by SAPOA , where the following facts emerged (when compared with Q2, 2011): • Office vacancies decreased from 11.1% to 10.5% • Total gross rentable area (‘000m2) increased from 8,386 to 8,484 • Prime rental rates (R/M2 per month) remained unchanged • Yield on Office Space declined from 8.75% to 8.5%
Commercial Property Funds are Tops
Property funds have outperformed other unit trusts over the past three to five years, according to the Property Loan Stock Association of SA (PLSA). According to Morningstar, one of the leading providers of independent investment research, five of the top-performing unit trusts in SA over the last five years were property funds while, over the last three years, four of the five top performing units trusts were also property funds.
Industrial Property gets a R25bn boost
On Tuesday, Minister of Finance Pravin Gordhan revealed plans to provide R25 billion over the next six years to stimulate industrial development zones, boost investments in enterprises and job creation, support green initiatives and to get the private sector to partner with the public sector to invest in infrastructure.
Melrose Arch | Top Offices to Let
Melrose Arch has "AAA" Grade offices to let in a prime location in Johannesburg. Melrose Arch offers an exceptional environment and an internationally prestigious address and is home to the head offices of some of South Africa’s leading companies. This mixed use precinct is perfectly balanced to provide high street shopping, top class residential apartments, and prime offices to let.
Going Green | The New Generation of Office Space
In recent times there has been a demand by prospective renters of office to secure premises in an "intelligent" building. That is to say, one that has provided maximum levels of comfort, efficiency, cost savings and convenience. In most modern buildings, software technology has allowed us to do that.
Office Space | Demand Growing
The recent release of the SAPOA Office Space Vacancy Survey for the first three quarters of 2011 shows a modest vacancy growth. However, the vacancy growth pattern in the "A" grade office space category has reduced when compared with the previous year. In this sector, the vacancy rate has reduced by 0.4% since the first quarter 2011 and now stands at 8.0%
