PROPERTY: Corporate Park Nears Completion and Attracts Leading Tenants
Recent Gauteng Business News
Org Geldenhuys, managing director of property development and management company, Abacus DIVISONS, said while 2011 was an extremely difficult year for the commercial property market Â– with the effects of the 2008 recession finally taking its toll Â– there were a number of Â“emerging positive signsÂ”.
Abacus DIVISIONS is the key property developer and marketer at Route 21 Corporate Park.
Â“While rentals have been under significant pressure, we are seeing an increased interest, overall, from businesses at large and are expecting rental contracts to increase from a price perspective during the latter part of this year,Â” said Geldenhuys.
He said that, to a large extent, Route 21 Corporate Park had Â“bucked the trendÂ” and was one of the few office parks in the Centurion node still commanding Â“premium rental ratesÂ”.
Â“We had a number of interesting developments during the last year, including the development of a R60 million green-focused building- which is now almost fully let Â– and the development of a 4 200m2 head office/distribution facility which is the biggest of its kind in the office park.Â”
Leading technology company, Brother, also developed a new regional head office for South Africa and the neighbouring territories, with Geldenhuys saying that it is the parkÂ’s security infrastructure and location that is attracting prospective clients and owners.
Â“Buying and renting in a secure business environment is currently a huge trend that we will see continuing to grow as crime remains a significant worry in the South African landscape.Â”
Business News Sector Tags: Property|