Commercial Property overview: Randburg

Commercial

    

Commercial office space

Randburg is an attractive tree-lined suburb of middle- to upper-end residential properties located north of Johannesburg, which also has a vibrant commercial sector. This consists predominantly of retail outlets and office buildings. “However, there is also a fair amount of industrial activity, mainly to the north of the residential areas,” says Leon Breytenbach, National Manager of the Rawson Property Group’s commercial division.

Location and access

Located between the N1 and M1 highways, with Malibongwe and Beyers Naude Drives transecting the area, Randburg is ideally placed to access greater Johannesburg or further afield.  “Malibongwe Drive is a busy road that is used by many commuters to access the N1. Several shopping centres are located along this route, and it is the most direct road to Lanseria International Airport, which is only 30 kilometres to the north” Breytenbach observes. Beyers Naude Drive can be busy as well, since it is a major arterial route linking Randburg and Roodepoort with the Johannesburg CBD. Cresta Shopping Centre is also located adjacent to Beyers Naude Drive.

Randburg includes suburbs like Northcliff, Blairgowrie, Cresta, Greenside and Linden, among others. OR Tambo International Airport lies 33 kilometres east of Randburg, the Johannesburg CBD is 11 kilometres southeast, and Pretoria is 64 kilometres to the north. Public transport is excellent as the area is served by Metrobus and the Rea Vaya rapid transport buses, as well as Gautrain buses which travel via Republic Road, providing access to the Gautrain. Minibus taxis are, as always, readily available, while metered taxis are best summoned by phone.

Commercial property

Randburg offers a number of large shopping centres and malls, with Cresta Shopping Centre – one of the largest in the country – offering great retail opportunities. Numerous office and multi-use buildings, many with retail space at ground level, house a wide variety of businesses.

“Plentiful business parks provide lettable office space – including Cresta Junction and Stonemill Office Parks, as well as Northlands, Bond Street, Cosmo and Strijdom Business Parks – and a few large corporations have flagship buildings in the area,” Breytenbach observes. Westbank Head Office and FNB Campus are just off the Beyers Naude offramp, while industrial parks are mainly located near Randpark Ridge, Kya Sands, North Riding and Lanseria.

According to the SAPOA Office Vacancy Report for the third quarter of 2018, the total amount of prime office space in the area stands at 47 000 square metres, along with 96 229 square metres of A-grade space. There are 263 206 square metres of B-grade space, with C-grade only comprising 25 240 square metres.

Currently, no prime space is available for rent, while only 9 924 square metres of A-grade, 33 124 of B-grade and 4 236 square metres of C-grade space is available. Nine months ago, the office vacancy figure stood at 14.25%, but it has improved to the current 11% vacancy. Average monthly rentals per square metre are R88 for A-grade, R75 for B-grade, and R50 for C-grade.

Amenities

“Northcliff Country Club and Randpark Golf Club are popular with the locals, while Cresta Shopping Centre offers all manner of entertainment and retail outlets,” Breytenbach remarks. Restaurants and coffee shops are prolific in malls and elsewhere. Walter Sisulu Botanical Gardens, Johannesburg Zoo, Delta Park and Emmarentia Dam provide nearby outdoor space for nature lovers, while Northcliff Ridge Ecopark is popular with walkers, joggers, cyclists, rock climbers and those wanting to enjoy a picturesque sunrise or sunset. Movie theatres and the Barnyard Theatre are located at Cresta.

There are excellent government and independent high-, primary- and pre-schools in the area. Tertiary education is provided by, amongst others, Richfield Graduate Institute of Technology, Greenside Design Centre and Varsity College. Clinics such as the Akeso Clinic and the Randburg Clinic and Autism School, along with medical practitioners of all genres, are located within the suburb. Accommodation in hotels, guest lodges or B&Bs is readily plentiful.

In conclusion

“If you are looking for a great spot to start a new enterprise or relocate an existing one, Randburg can offer a wide variety of reasonably priced office premises, as well as residential property and other amenities,” advises Leon Breytenbach. It is an excellent place to live, work and play.

Rawson Commercial has offices countrywide and hopes to assist you in finding the right commercial property for your needs. Please contact (021) 658 7100 and we will refer you to your nearest office.

For more information, email marketing@rawsonproperties.com or visit www.rawson.co.za for the latest market tips and industry news.

Leon Breytenbach

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