Braamfontein lies less than three kilometres north of Johannesburg CBD. It is home to the Constitutional Court, the highest court in the country which is located on Constitution Hill. It is also where the City of Johannesburg’s local government is situated. “The area has, in recent years, undergone an exciting regeneration from dowdy urban decay to a hip and happening business and residential hub,” says Leon Breytenbach, National Manager of the Rawson Property Group’s commercial division. Modern commercial properties rub shoulders with quaint historical buildings, penthouses for young executives or apartments suited to university students
Commercial property
There is little freehold property in the area as sectional title comprises 98% of all residential market stock. “The SAPOA Report for April 2017 shows 228 329 square metres of commercial rentable area, of which only 22 586 square metres remains available for leasing,” Breytenbach advises. The vacancy rate stands at 9.9%, slightly higher than the preceding year when it remained at a fairly steady 7% to 7.7%. This rise may have been caused by the 12 550 square metres of approved development which is not yet in the market but has been pre-leased. If the entities who will occupy the new development are vacating property within the area, the averages could be affected.
Shopping centres such as Newtown Mall, The Bridge Shopping Centre and 70 Juta provide ample retail opportunities while numerous high-rise blocks offer a wide variety of office space. There is an amount of 156 434 square metres of rentable A grade office space, 55 517 square metres of B grade, as well as 16 378 square metres of C grade space. However, there are only 12 444 square metres of A grade, 4 965 of B-grade and 5 177 of C grade currently available for leasing. Of these, the highest percentage exists in the C grade sector, encouraging the presumption that these properties may be due for a future re-vamp. The average rental for A grade space is R106 per square metre, while B grade will cost R100 per square metre. C grade averages at R85 per square metre. Many well-known business head offices are located in Braamfontein; NICRO, Hi-Fi Corp, Capitec Bank, Kelly Personnel, Transnet National Port Authority, Legal Aid South Africa, Sappi, Liberty Life and JD Group being but a few.
Amenities
“The University of the Witwatersrand is located in Braamfontein, giving rise to a great influx of students requiring accommodation, shopping facilities and entertainment,” says Breytenbach. Restaurants, coffee shops, bistros and fast food outlets abound, while the Neighbourgoods Market draws hundreds of shoppers on Saturdays. Exclusive boutiques catch the shoppers’ eye, alongside quirky coffee shops, elegant restaurants or popular nightclubs. Ellis Park rugby stadium, museums, movie studios, theatres, lifestyle centres or art galleries all lie within walking distance of each other. Thousands of people employed within the area provide great numbers of potential consumers. The nightlife is legendary, attracting patrons from far afield.
The Braamfontein Management District, an initiative to which each ratepayer contributes, ensures that the area is kept clean and as crime-free as is possible with the help of uniformed security guards and the installation of closed circuit cameras. Medical doctors, dentists as well as other health practitioners are available in Braamfontein, which also boasts the NHLS Hospital, Hospital Hill and the Netcare Rehabilitation Hospital. Besides Wits University, the John Orr Technical High School, Rosebank , Lyceum and Damelin Colleges, 5th Dimension College of Visual Arts, and Oval International provide a good variety of educational facilities. The Johannesburg Theatre is ever popular as is the planetarium. Accommodation is available at several hotels located within the suburb such as the Parktonian Hotel, Hotel Devonshire, Bannister Hotel, to name a few. Lodges or B&Bs are also available.
Accessibility
Johannesburg CBD is less than three kilometres from Braamfontein, while Pretoria lies 53 kilometres away. “Access to OR Tambo International, just 24 kilometres away, Grand Central and Rand private airports at 29 kilometres and 20 kilometres respectively, ensures easy distance-travel while the MetroBus as well as the Rea Vaya Rapid Bus Transport provide local transport,” advises Breytenbach. The Park Gautrain station lies only one and a half kilometres away, besides ever-present minibus taxis which are always available. The M1 motorway and Jan Smuts Avenue are main arteries within the suburb which, along with the excellent suburban grid roads, ensure easy road travel, locally as well as further afield.
“This bohemian, yet business-rich neighbourhood offers an ongoing variety of opportunity for commercial enterprise, besides being a great place to re-locate a business,” Breytenbach advises, “particularly where some older buildings could be converted into student accommodation.” This could be the right place for you.
