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Abacus DIVISIONS signs on 21 new tenants at Highveld Techno Park

Posted On Wednesday, 28 November 2012 07:58 Published by eProp@News
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Despite the delay in any upturn in the commercial property market sector, there are some murmurs of an uptick in Centurion 

Pretoria-based property development and marketing company, Abacus DIVISIONS, has announced it has signed a total of 21 new tenants since taking over the marketing of the multi-billion Rand Highveld Technopark in Centurion six months ago.

Said Org Geldenhuys, managing director of Abacus DIVISIONS: "Given the muted recovery in the market and the high level of offices vacancies in the greater Centurion area we believe this is a significant milestone – and we believe we will continue to sign new tenants for Highveld Technopark in the following few months."

While the 21 new tenants represent the letting of only 4 000 square metres of total office space, Geldenhuys said this signals an "interesting, and possibly a new trend" – as 20 of the new tenants signed up for small office space of only 70 – 150 square metres. "It is interesting to note that these 20 companies are all small and medium companies operating in the services and technology-focused market sectors. We only signed one tenant that could be considered as large – and they signed for 1000 square metres of office space."

Geldenhuys said this might suggest that any upturn might be lead by "smaller companies".

He said there is also a trend for companies to utilise office space more efficiently. "There is very little idle space. Most companies are filling every nook and cranny and, while this can be a good thing, over-doing the utilisation of space can also be negative. Crowding staff into office space can have a negative impact on staff morale and it can over-tax the infrastructure in the given area. It also makes any recovery in the market place that much harder.

"What we saw with these new tenants is that they were looking for value for money. It is still a tenant-driven market and landlords need to find ways to offer compelling propositions to tenants. These are the landlords who will survive, and prosper, in a market that seems to be taking longer than anticipated to see any real growth."

Abacus DIVISIONS is active in the greater Centurion and Irene area, including at the hugely successful Route 21 Corporate Park in Irene. There are only three stands left for sale at the office park.

Last modified on Wednesday, 28 November 2012 08:09

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