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Gauteng

Fourways

Fourways is located to the north-west of the N1 highway and is bordered by Bryanston, Rivonia and Sunninghill . The node is accessible from the William Nicol Drive off-ramp and Witkoppen Road, with close proximity to Lanseria Airport. The office market is encompassed by a large residential and retail market with Montecasino being a prominent entertainment destination. The node has a diverse range of quality office stock with premium and relatively newer stock concentrated around the Montecasino precinct, such as the Palazzo Tower, The Pivot and Longpoint Office Park, with older stock dispersed across the region. Market Overview The Fourways office market,...

COMMERCIAL PROPERTY

Johannesburg

Johannesburg Rental Overview The Johannesburg office market remains under pressure with the vacancy rate slightly increasing to 12.9% in Q1 2018  compared to 12.6% in the previous quarter. This is the highest vacancy rate recorded since 2010, further emphasising  pressure in the market. While Grade P office accommodation has the lowest vacancy rate at 5.4%, it has witnessed a  significant increase of 2.7% compared to the same period in 2017. The inner city and surrounding areas continue to  exert the most pressure on the overall vacancy rate. Despite the high vacancy rate, Johannesburg continues to be the first-choice location for many...

COMMERCIAL PROPERTY

Rosebank

Rosebank Office Nodal Report Q1 2018 Key Stats: Key Market Numbers Total Stock: 369,179 m2 Vacancy Rate: 6.7% Development Pipeline: 108,044 m2 Grade P rentals: R245/m2/month Rosebank has seen a lot of developments (residential, retail and office) over the past few years. For a mature node with very limited land space available the node has continuously done well. The node came in second at 27% in terms of development activity in Johannesburg. Rosebank has enjoyed rigorous demand for Grade P accommodation which has seen just over 41% growth in stock over the past 2 years and has a vacancy rate below 1%. Recent completions in the node include the...

COMMERCIAL PROPERTY

Sandton

Sandton Office Nodal Report Q1 2018 Key Stats: Key Market Numbers Total Stock: 1,840,987 m2 Vacancy Rate: 15.9% Development Pipeline: 152,000 m2 Grade P rentals: R210-R250/m2/month The Sandton office market currently has a vacancy rate of 15.9%, the highest level ever recorded for the node since Q3 2014 when the vacancy rate was just below 15% at 14.8%. Compared to the previous quarter, the vacancy rate shifted by 1.9% while on a year-on-year basis the vacancy rate increased by 6.9%.  The vacancy rate for Grade B (which was recorded at 34.2% for Q1 2018) has been gradually increased, largely driven by corporates moving to newer higher quality...

COMMERCIAL PROPERTY

Woodmead

Market Outlook Woodmead is one of the office nodes currently experiencing stagnation with very little development taking place and very small growth witnessed in rental rates. The node has lost much occupier interest due to the lack of quality office accommodation (Grade P). Stock in Woodmead is spread between Grade A (72%) and B (28%). Nevertheless, Woodmead has maintained single digit vacancy rates over the past few quarters with the overall vacancy rate currently sitting at 6.7%. The node is not expected to see any improvement in the near future as there are no development plans announced for the area and major tenants like Deloitte are expected to move out of...

COMMERCIAL PROPERTY
 
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