Non-residential building plans and completions: Office, retail and industrial

Posted On Tuesday, 05 February 2013 11:32 Published by eProp@News
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The value of recorded Non-residential building plans passed between January 2012 to November 2012 increased by 6.9% compared to same period 2011; industrial property in front of the pack in planning and completions.

Non-residential buildings which include office, shopping centre, industrial and churches, reported as completed to larger municipalities at current prices increased by 16.2% in 2012. Kwazulu-Natal recorded a spirited 48.28% in completed offices, a total 81 313sqm new office space in the market. Though retail space supply dropped by almost half at 49,6% from 2011.

Gauteng sits with 25% new offices completed by Nov2012 compared to previous period. The value of new industrial warehouse in the province increased by a whopping 76.7% spread across Midrand, Gosforth Park and the Airport district in Ekurhuleni.

Shopping centre completed in Mpumalanga dropped by 80.5% in 2012, perhaps an indication of the lag between plans submitted and new developments breaking ground in the province. New Industrial property completed increased by 36.1%, a number of which include warehouses along the N4 highway.  

Other non residential space which includes churches has shown a substantial increase in plans passed as more churches aim to set a foothold in the CBDs of Johannesburg, Pretoria and Durban.

eProp demand barometer points to an undersuppy of small sectional title offices for sale in Rosebank, Suninghill and Rivonia. Perhaps an opportunity exists to accommodate business who wants to own for a limited budget.

Last modified on Wednesday, 06 February 2013 08:11

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