Johannesburg - Sandton offers the most sophisticated office environment on the African continent and more space will be coming on stream, said SA Jones Lang LaSalle managing director Craig Hean in an interview with Fin24.
He said Sandton also has the biggest demand for commercial property with its huge shopping centre in Sandton City, a number of five star hotels and a good public transport system in the Gautrain making it ever more attractive.Watch the interview
Over the next three years Sandton will get some 400 000 square metres of new office space, despite infrastructure being already constrained, he said, adding that it’s going to get increasingly difficult to move around.
“The one trend that we anticipate seeing with all the new development that is taking place in Sandton is an increase in the demand for A-grade quality accommodation in the peripheral nodes,” Hean said.
“We anticipate a rise in interest in Rosebank as Sandton becomes more congested”.
He said Rosebank has everything that Sandton has to offer; a Gautrain station, a shopping centre, and hotels among other new developments.
There is also substantial demand in areas like Bryanston and Midrand and in particular the Waterfall precinct, which is a gateway providing for people travelling from Pretoria and as far afield as the West and the East Rand.
Places like Weirda Valley and Illovo are also well positioned for a boom, said Hean, while Parktown and the CBD have seen an increase in a number of vacancies as clients look past the straight-forward rental costs to the total cost of occupying less efficient smaller floor spaces. Beyond Santon: Watch the interview
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