Join the club: Developers get smart with dowdy old offices
Some 20% of offices in Sandton are vacant, so why not turn them into swanky residential and hotel facilities?
As SA’s economy slowly gathers momentum in 2019, landlords are still burdened with stubborn vacancy levels in their office portfolios.
The SA Property Owners’ Association says the national office vacancy rate is about 11% and it’s unlikely to shift much during the rest of 2019.
Some 20% of office space in Sandton, the prime commercial node of SA, is vacant, a vacancy of around 20%, according to data provider Gmaven...