Malcolm Horne, CEO of multi disciplinary property services business, Broll Property Group, continues: “Together the new highway toll project and Gautrain stations will make 2011 a year of adjusting to the new transportation options and trends, and related property demand, specifically between Pretoria, Joburg and Ekurhuleni,” Horne explains.
According to Horne, the planned opening of all new Gautrain stations by mid-year should certainly have a positive impact on property demand and development immediately around the stations. “This should specifically apply to retail and office property, and the motor dealerships and servicing industry”.
Horne points out that there has already been a notable increase in new developments around both the Sandton and Rhodesfield stations. “We are also receiving numerous leasing enquiries for positions conveniently sited to these stations,” points out Horne.
Horne points to the new open road toll system with 42 toll points being introduced on the province’s major highways as part of the Gauteng Freeway Improvement Project as having a major impact. This system is expected to be in effect by the middle of the year and, will effect transport costs and routes.
“While the improved highways are tipped to reduce travel times, it could also mean that business areas which are served by non-tolled routes, or less impacted by the tolling, will gain favour with companies which are highly dependent on transportation,” says Horne.
Transport infrastructure is expected to be a driver of property decisions beyond 2011. “Many businesses will only be able to effect changes to address the impacts of the alterations to Gauteng transport infrastructure when their current leases come up for renewal and thus we believe this will impact property decisions certainly over the next three to five years,” explains Horne.
Publisher: eProp
Source: BPG
