A number of factors are facilitating a property revival in Durban South.
Council's clean-up, declining interest rates and some of the lowest industrial rentals in Durban are making the area south of Edwin Swales Drive a hit.
The area is enjoying a five-year peak in terms of take-up.
Russell Scorer, joint group managing director of Maxprop, says the initial catalyst for the recovery, particularly in Jacobs, has come from a rolled-up sleeves approach by council in response to persistent lobbying from Jacobs' heavyweight land owners.
It is not all perfect yet, but Scorer says the council's R18 million allocation for refurbishment has made substantial strides in the clean-up of verges, eradicating some of the shack shops and squatters and making a great improvement to the general environment.
The lifting of the disused railway lines in Chamberlain Road and the conversion of that space to island parking along with improved policing throughout the region has greatly enhanced Jacobs's appeal.
Scorer says Jacobs's rejuvenation and clean-up has underpinned tenant confidence to the point that an 18-month run-in demand in the area has now culminated in the complete take-up of all good access ground floor space.
Some vacant pockets do remain but these have been overlooked mainly because of their poor accessibility or fragmentation.
Mobeni is also enjoying an industrial revival, with strong leasing demand in the main for 1 000 m2 accessible factory space with good ablutions and power supply commanding fuss-free rentals of between R12 and R15/m2. - The Mercury
Publisher: Mercury
Source: Mercury