Highveld Technopark is known as a ‘high technology’ business park and is home to some of South Africa’s largest technology companies such as Korbitec, Dimension Data and other companies like the Fortress Income Fund, Waltons, Financial Intermediaries Association of South Africa, Discovery, Leseja Mapoga Chuene Group SA, all of which are thriving in the pleasant, secure, access controlled park, well designed for an efficient, convenient work experience. The business park is situated in Witch Hazel Avenue, Centurion. “The area offers office developments as well as warehouses,” says Leon Breytenbach, National Manager of the Rawson Property Group’s commercial division, “with the suburb of Highveld providing residential properties close by.”
Highveld Technopark’s proximity to the intersection of the N1 and N14 highways as well as the Danie Joubert Freeway and other arterial roads make it convenient to access both Johannesburg, which is about 43 kilometres away and Pretoria CBD 22 kilometres away. “The Technopark is located five kilometers from the Centurion Gautrain station, with taxis or municipal buses conveniently available,” says Breytenbach. The industrial area of Sunderland Ridge will only require a 20 minute drive. Due to Highveld Technopark’s convenient location, both OR Tambo and Lanseria International Airports are also easily accessable.
According to the SAPOA Office Vacancy Report for the third quarter of 2016, “The national office vacancy rate was 10.5% - virtually unchanged from the previous quarter.” The total rentable area in Highveld, as shown in the report, is an impressive 587,724 square metres of which 422,792 square metres is A grade office space, while the balance of 164,932 square metres is B grade. The vacancy percentage increased over the past year from 7.8% to 9.7% B grade premises show a consistently higher vacancy rate than A grade, but the overall figure may well be influenced by new, unleased developments coming onto the market as they are completed, thus inflating the figures. The total rentable area of approved development still under construction is recorded as an amount of 44,000 square metres, though only 39,000 will be available for leasing.
Referring to the overall national picture for office development activity, the SAPOA report states, “The overall pre-let rate of developments has remained fairly stable in the mid-60%. As at the end of the current quarter, the national pre-let rate of developments where ground has been broken was recorded at 66.6%.” The report continues, “The construction time of some large projects recently breaking ground did have an impact on this, but a decline in the pre-let rate could weigh on rental growth given that new developments will compete with completed stock for tenants.”
“Recent data suggests that the fundamentals underlying office sector recovery remain fragile” explains the SAPOA report, “with the latest economic growth and employment data pointing to a stagnant, flat growth environment while private sector employment and capital investment slumped worryingly in their latest reporting periods.”
The rentals, though they may fluctuate, explains Breytenbach, average about R125 per square metre for A grade office space, while B grade space would cost you about R88 per square metre. As the demand for value-for-money commercial rental property grows, some business areas become steadily more expensive or congested. However, Highveld Technopark offers good location, exceptional surroundings, accessibility and availability of high quality commercial property.
Rawson Commercial has offices countrywide and will gladly assist you with all your commercial needs. Contact (021) 658 7100.