Office space demand remains muted

For now, no improvement in the demand for office space is detectable; this is according to the latest issue of Rode’s Report on the State of the South African Property Market, sponsored by FNB. Erwin Rode, property economist and publisher … Continue reading →

Gradual recovery for commercial property Absa

Absa says things are slowly getting better for industrial and commercial property. Johannesburg, Oct 13 (I-Net Bridge) – No more booms in growth are likely to be seen in the property sector, however a gradual recovery is very much on … Continue reading →

Office Demand Still Taking A Siesta

For now, no improvement in the demand for office space is detectable, this according to the latest issue of Rode’s Report on the State of the South African Property Market. Explains Bellville-based Erwin Rode, property economist and publisher of the Report: “Uncertain … Continue reading →

Prime Sectional Title Offices in Pinelands

For Sale and To Let, Sectional Title Offices in Pinelands.

Howard Terraces, located on the corner of Forest and Howard Drive, a corporate headquarters that has recently been upgraded and converted into A Grade Sectional Title Office accommodation.  The various office units can either be purchased or leased.

Companies looking for a high profile and commercial and industrial property investors looking for a stake in the sort after Pinelands office property market should definitely consider Howard Terraces.

Howard Terraces is located next door to the Howard Shopping Centre, which has most of the amenities, that an office user or company could want.

Pinelands is located at the centre of the Cape Town metropolitan area, within easy access of the major commercial, industrial and residential areas and the road network. Pinelands can also be accessed by train.

For more information on either purchasing or leasing at Howard Terraces, please call us at:

Telephone: 021 551 9777 Email: info@delaporte.co.za  Website: www.delaporte.co.za

 View of Table Mountain from Howard Terraces

A clear view of Table Mountain from an office in Howard Terraces

 

 

 

 

Office to let in Century City

106.6 m² office available to let @ R90 per m² ex VAT, for more information feel free to contact Kathy Evans on 084 555 4235 or Kathy@delaporte.co.za

Office to let in Milnerton

102m² office available in a security complex in Milnerton, rental is R 60 per m² ex VAT. For more information contact Kathy Evans on 084 555 4235 or kathy@delaporte.co.za

New offices for Century City

A new block of prime sectional title offices is to be built at Century City at a cost of R37million to meet pent-up demand for small to medium size offices in the precinct. The 2200 square metre building, to be … Continue reading →

SA commercial property prices are rising

IPD’s latest valuation report shows an improvement in South Africa’s commercial property values but cautions that a full market recovery has yet to take off. “Renewed optimism in the second half of 2010 and better market conditions resulted in a … Continue reading →

Static Cape Town Office Vacancies

The second SAPOA Office Vacancy Survey of 2011 confirms very little movement in the Cape Town office market with most of the vacancy figures remaining relatively static, says Dave Russell, a director of Baker Street Properties. Russell says,”Slight increases in … Continue reading →

Office Rentals Strengthen

According to the latest Rode’s Report on the South African Property Market (2011q2), office rentals nationally strengthened by an impressive 9% in the first quarter of 2011. This was reflected regionally with rentals in Johannesburg and Pretoria decentralized areas up … Continue reading →

State U-turn on ‘costly’ private office leases

Property owners say change in policy could be setback for Black Economic Empowerment.

IN A move that could profoundly shake up the large commercial property sector, the government yesterday signalled a major policy U-turn that will see it begin to build for itself rather than lease property from the private sector.

Property analysts said the new policy appeared to be contradictory because the government had adopted a policy to support black property owners.

Introducing her budget vote in Parliament yesterday, Public Works Minister Gwen Mahlangu- Nkabinde said leasing accommodation for government departments cost the state billions.

Ms Mahlangu-Nkabinde recently received a severe rebuke from the public protector for signing a R500m lease to relocate the South African Police Service head office to a new building in Pretoria. Her department is still battling to complete an audit of state-owned buildings, a project which started 17 years ago.

“The leasing portfolio is costing the state a lot of money. The department has in the past year spent billions in leases and functional accommodation for client departments,” she said.

Ms Mahlangu-Nkabinde said investment in repairs and maintenance, as well as in the construction of new government buildings, could generate major savings , ” This will include ensuring the relocation of national departments to state-owned buildings where it is feasible to do so.”

But South African Property Owners Association CEO Neil Gopal said the new policy was “a double-edged sword”.

“One needs to take into account why the department considers renting costly. Are these leases governed by market-related rentals or are these rentals inflated and hence considered expensive?” he asked.

“I propose that the Department of Public Works start by assessing their current leases to verify if the rentals they are paying are market related or not.”

Mr Gopal said the construction of buildings had to be dictated by various considerations — cost and need analysis, land use patterns and availability of stock. He warned constructing new buildings for the wrong reasons could be more costly in the long run.

“I do, however, support a programme of continuous repair and maintenance of existing government buildings. In the short term, it may provide construction job opportunities,” he said.

Ms Mahlangu-Nkabinde emphasised that the while the state’s lease portfolio was being slashed, her department would find ways “to structure its current leases such that the socioeconomic goals of government are realised, including black, women and youth economic empowerment”.

Stanlib head of property funds Keillen Ndlovu said the listed property sector had been reducing its government exposure. ”This has been largely driven by the low black economic empowerment ownership in the sector. Government-tenanted properties are being sold to black- owned companies,” he said.

Mr Ndlovu said generally, the higher the black ownership of a company, the higher the probability of it signing a lease with the government, especially a long- term lease. “Given this, most listed property companies do not have the ability to secure longer leases with government and have been reducing their government exposure. For example, one of the listed property companies has just over 15% exposure to government and (aims) to reduce it to 10% in the short to medium term.”

Ms Mahlangu-Nkabinde also announced that underused or unused government buildings would be revamped and put to other uses, such as accommodation for students.

Source: Business Day http://www.businessday.co.za

Milnerton, new A grade office development

This gallery contains 2 photos.

Offices to let-Milnerton. Millvale Office Suites is a new A grade office development curently under construction in Millvale Road, opposite the Milnerton Mall and the SPAR. Millvale offices will consist of 2300m2 of A grade office space when complete. The top … Continue reading →