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Latest News

Rode Associates CEO Erwin Rode
July 29, 2016

Rode & Associates once again receives top honours in national survey

in Office, Retail, Industrial, Hotels and Residential
Property valuation firm Rode & Associates, has been honoured with top awards from the authoritative publication Professional Management Review (PMR.africa) in this year’s PMR.Africa rankings.
Office Stock vs Office Demand
July 29, 2016

Alarm bells ringing in the Centurion office space market

in Office, Retail, Industrial, Hotels and Residential
The Pretoria decentralized office market continues to suffer from the aftermath of overzealous development coupled with weak demand for space to rent.
Palm Brook
July 29, 2016

Construction of fifth Oasis luxury apartment block underway

in Construction, Energy and Infrastructure
Construction of Palm Brook, the fifth block of apartments in the Oasis Luxury Retirement Resort at Century City where 23 apartments have already been sold for more than R120million, has now commenced.
Black River Park
Jul 29, 2016

Black River Park cements its position as Africa’s largest integrated photovoltaic…

Redefine Properties’ Black River Park in Cape Town has cemented its position as Africa’s largest integrated…
Geoff Jennett Emira Property Fund
Jul 29, 2016

Emira Property Fund rejects Arrowhead’s expression of interest

The Board of Directors of Emira Property Fund has rejected Arrowhead’s unsolicited, non-binding, and highly conditional…
JT Ross Sydney Rd
Jul 28, 2016

Biggest brown fields refurbishment on track for October launch

The reinvention of Durban’s old Dunlop tyre factory into state-of-the art warehousing is on track and will be ready for…
Klaus Dittrich Chairman and CEO Messe München
Jul 27, 2016

EXPO REAL is Europe's largest real estate and investment trade fair

The real estate and investment industry are also concerned with Brexit and the question behind it: What does the future…
Norman Raad Broll Auctions and Sales
Jul 27, 2016

Challenging times see some of the best properties taken to auction in years

Exciting opportunities arise in uncertain and difficult times, says Norman Raad, CEO of Broll Auctions and Sales.

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Company Profile

Kei Commercial

Due to extensive experience in the property industry we are able to offer the following services: 1. Brokering Division1.1 Selling of Commercial/Retail properties on a national level1.2 Leasing of Commercial/Retail properties1.3 Lease Management 2. Portfolio…

Property Leader

johannes bhekumuzi

Johannes Bhekumuzi

Mr. Johannes Bhekumuzi Magwaza, also known as JB, BA, MA (Ind Rel), Dip (IR), Dip (PM), is the Founder of Nkunzi Investment Holdings (Pty) Ltd and serves as its Executive Chairman.
Wednesday, 20 March 2013 12:37

Office space under pressure in year ahead

Published By  [email protected]
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Property pundits agree that office property will remain the problematic sector in the next 12 to 18 months with dominant retail centres likely to be the best performers.

Vukile Property Fund CEO Laurence Rapp believes that — consistent with last year — the market will continue to "see the office property sector under pressure".

While Rapp believes the performance of the industrial property sector will continue to improve, retail property will continue to be "the preferred asset class given its growth potential but inherently defensive nature".

Redefine Properties CEO Marc Wainer believes the pressure in the office property sector will be particularly felt in the older B-grade property arena. Wainer says it becomes much more difficult to let B-grade space in the current market because newer A-grade rentals are flat. This results in A-grade rentals being more affordable and consequently there is less incentive for prospective tenants to move into B-grade space.

As for new office property space being developed, Wainer says: "Anything being built now is being built specifically for tenants." He says there is little in the way of premium office properties coming onto the market on a speculative basis.

Redefine is, however, developing a 20,000m² office building in Sandton.

Wainer says retail property is "still pretty strong, particularly in the larger centres", adding: "We’ve seen major retailers are still doing well, expanding their retail footprint."

He says industrial property is strong and there are good signs in distribution warehousing.

Growthpoint CEO Norbert Sasse says he sees the office property market remaining the weakest of the property types in the next 12 to 18 months, especially given the muted economic growth outlook in Finance Minister Pravin Gordhan’s 2013 budget. Gross domestic product growth at about the 2.7% level is predicted for 2013.

Sasse also warns the market is seeing a slowdown in consumer spending, which will have a potentially negative effect on the retail property sector.

"However, we are confident the retail sector will continue to provide above average returns for the next 12 to 18 months."

As far as industrial property is concerned, he says there seems to be "mixed signals coming through the economy with manufacturing output coming lower than expected".

Sasse believes this, together with labour unrest in the mining sector, could also "pose some challenges for the industrial sector. However the fact that national vacancy levels in the industrial sector are at the 3% to 5% level suggests that there is no major oversupply of space. We are confident about the industrial property sector."

Source: BD

Listed Property, REIT, Real Estate Funds

Geoff Jennett Emira Property Fund

Emira Property Fund rejects Arrowhead’s expression of interest

July 29, 2016 Listed Property, REIT, Real Estate Funds eProperty News
The Board of Directors of Emira Property Fund has rejected Arrowhead’s unsolicited, non-binding, and highly conditional expression of interest to acquire all of Emira’s issued share capital on the basis that it has no benefit to Emira’s shareholders.

Office, Retail, Industrial, Hotels and Residential

Rode Associates CEO Erwin Rode

Rode & Associates once again receives top honours in national survey

July 29, 2016 Office, Retail, Industrial, Hotels and Residential eProperty News
Property valuation firm Rode & Associates, has been honoured with top awards from the authoritative publication Professional Management Review (PMR.africa) in this year’s PMR.Africa rankings.

Green Building and Sustainability

Black River Park

Black River Park cements its position as Africa’s largest integrated photovoltaic plant

July 29, 2016 Green Building and Sustainability eProperty News
Redefine Properties’ Black River Park in Cape Town has cemented its position as Africa’s largest integrated photovoltaic (PV) plant when it turned on phase 3 of its PV installation earlier this month.

Commercial Property Auctions

Norman Raad Broll Auctions and Sales

Challenging times see some of the best properties taken to auction in years

July 27, 2016 Commercial Property Auctions eProperty News
Exciting opportunities arise in uncertain and difficult times, says Norman Raad, CEO of Broll Auctions and Sales.

Africa, International Property News

Klaus Dittrich Chairman and CEO Messe München

EXPO REAL is Europe's largest real estate and investment trade fair

July 27, 2016 Africa, International Property News eProperty News
The real estate and investment industry are also concerned with Brexit and the question behind it: What does the future of Europe look like with national barriers?

Construction, Energy and infrastructure

Palm Brook

Construction of fifth Oasis luxury apartment block underway

July 29, 2016 Construction, Energy and Infrastructure eProperty News
Construction of Palm Brook, the fifth block of apartments in the Oasis Luxury Retirement Resort at Century City where 23 apartments have already been sold for more than R120million, has now commenced.

Most Popular

Listed property groups struggling to find takeovers

Jul 06, 2016
Maurice Shapiro
SA's listed property companies struggle to find well priced acquisition opportunities and…

When does an Estate Agent earn a commission?

Jul 05, 2016
Bruce Swain MD
Buyers and sellers alike often see an estate agent as a necessary evil when it comes to…

Attacq and Sanlam announce Waterfall joint venture development

Jul 04, 2016
Morne Wilken CEO Attacq
The joint venture has acquired 28ha of Waterfall land from Attacq and an additional…

South African property sector is worth a whopping R5.8 trillion

Jul 12, 2016
Portia Tau Sekati CEO Property Charter Council
The South African property sector is worth a whopping R5.8 trillion according to results…

Emira Property Fund signs WSP Parsons Brinckerhoff for the first phase of its major R795 million redevelopment of Knightsbridge, Bryanston

Jul 12, 2016
Knightsbridge Manor
Emira Property Fund today announced it has signed an agreement with WSP|Parsons…