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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. Feb 03, 2012
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. Feb 01, 2012
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. Jan 25, 2012
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. Jan 25, 2012
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. Jan 19, 2012
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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%

The "B" sector appears to have taken the largest knock, showing increased vacancy statistics.

The "C" sector has strengthened substantially in that vacancy statistics have shown a decrease. Stock in the sector has also shown a decrease, mainly attributable to owners refurbishing in order to attract "A" sector clients.

This pattern is indicative that prime office space is still attracting the bulk of the market. This fact, together with the move to upgrade existing office space, appears to indicate that property owners are expecting the demand for prime office space to continue.

Although there are substantial committed development investments in the office space market (some 540 000 square meters have been approved in the past 12 months) the vacancy rate still appears to be a retarding factor to investment.

Lukesh Govender, head of FNB Commercial Property Finance has recently said: "Current market conditions can still be seen as an opportunity. However, high vacancy rates need to show a pattern of sustained improvement before we see additional investment activity. I believe we are seeing the beginning of a turning point from a national viewpoint"
 

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