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Gauteng

Braamfontein

Key Stats: Stock: 456,075m2 Overall Vacancy Rate: 10.7% Average rentals: R95/m2 – R110/m2 Market overview The Braamfontein office market has seen very little developer interest in the past few years with very little development activity taking place. The lack of newer high quality stock in the area has led to the decrease in demand for accommodation. Braamfontein stock is dominated by older grade B and grade C accommodation. Average rentals in the node have seen steady growth over the years, mainly attributable to annual escalations, and currently the average rental sits at R110/m2. Braamfontein is one of the nodes experiencing stagnation in...

COMMERCIAL PROPERTY

Bryanston

Market Overview Key Stats: Stock: 569,221m2 Overall Vacancy Rate: 18% Grade A Vacancy Rate: 6.8% Prime rentals: R173/m2 – R192/m2 Bryanston office stock is still dominated by Grade A (53%)and Grade B (45%) accommodation. Bryanston saw a 6.5% and 5% vacancy rate increase on a quarterly and yearly basis, respectively. Grade P rentals recorded the most growth going up by 11% on year-on-year basis. Meanwhile other asset classes witnessed minimal growth in rentals. Office stock, mainly higher grade accommodation, in the node is expected to increase by at least 16,522 m2 by the end of this year when two ongoing developments come to completion....

COMMERCIAL PROPERTY

Midrand

Midrand Office Market Overview Key Stats: Stock: 729,352m2 Overall Johannesburg Vacancy rate: 12.6% Average Vacancy rate for Midrand & Waterfall: 11.1% Prime Rental range for Midrand & Waterfall: R159 -R213/m2 Rental Performance Waterfall entered the market with non-speculative offices for key tenants. Rental rates were low in comparison to Sandton at R180/m². Today Waterfall compares to well-established nodes such as Rosebank and Fourways, in some cases having higher asking rentals. On the contrary, Midrand has had minimal growth in rentals due to decreasing interest in the node. Vacancy Analysis The office market has not been...

COMMERCIAL PROPERTY

Randburg

Randburg Office Nodal Report Q3 2017 Key Stats: Stock: 442,702 m2 Overall Vacancy Rate: 13.96% Grade A Vacancy Rate: 7% Grade A rentals: R85 - R101/m2 Market Overview The Randburg office market has seen very little developer interest in the past few years with very little development activity taking place. The lack of newer high quality stock in the area has led to the decrease in demand for accommodation with most corporates moving to node like Illovo, Hyde Park and Rosebank. The Randburg stock is dominated by older grade B accommodation. Average rentals in the node have seen very little growth over the years and currently the average rental for...

COMMERCIAL PROPERTY

Rosebank

Rosebank Office Nodal Report Q3 2017 Key Stats: Stock: 394,516 m2 Overall Vacancy Rate: 11.9% Grade P Vacancy Rate: 3.3% Prime rentals: R235/m2 – R250/m2 Rosebank has seen an increased developer interest in the past few years with numerous developments going up (Rosebank Towers, Oxford & Glenhove) and others still in the pipeline. The node accounts for 14.7% of ongoing national office developments. Office supply in Rosebank is expected to increase by at least 18% in the next two years. While there are several ongoing developments, the development pipeline is thinning out due to decline in the number of speculative developments. A major...

COMMERCIAL PROPERTY

Sandton

Sandton Office Nodal Report Q3 2017 Key Stats: Stock: 1,681,928 m2 Overall Vacancy Rate: 11.3% Grade P Vacancy Rate: 4.8% Prime rentals: R208/m2 – R230/m2 Sandton continues to be the pioneer of office developments nationwide accounting for a little under 40% of ongoing national office developments. Sandton has become the corporate address for many law firms and will see an increase in the number of law practitioners operating in the node as Redefine recently announced a R476mn office block for advocates. The office block will comprise 9 storeys over an area of 13,500m2 and is expected to be completed early Q2 2019. Sandton is no exception to...

COMMERCIAL PROPERTY
 
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