The suburb of Morningside is situated approximately 5 kilometres away from Sandton, Johannesburg. It is flanked by similarly long established suburbs such as Parkmore, Woodmead, Wendywood and Wynberg. “The upmarket residential area offers peaceful, tree-lined streets, secure town-house estates, high-rise apartments or large freehold homes which belie the bustle of the busy commercial areas nearby,” says Leon Breytenbach, National Manager of the Rawson Property Group’s commercial division. Morningside and its surrounding suburbs are well supplied with excellent private or government schools, doctors, dentists as well as hospitals. Alternative health or lifestyle amenities are in good supply while there are many large, up-market shopping centres, malls, coffee shops, restaurants and office blocks in the area.
The M74 or South Road, Rivonia Road, Kelvin Road, besides a good network of lesser roads provide easy access. Grayston Drive passes near the southern boundary of the suburb. “Morningside has access to 3 airports, two of which are of international status,” Breytenbach explains. “OR Tambo airport is about 30 minutes away,” he continues, “while Lanseria, at approximately 31 kilometres, takes about 40 minutes to reach.” Grand Central private airport is only 22 minutes away, for those who have the luxury of a private aircraft . The industrial areas of Midrand and Sunninghill are easily accessed. The Gautrain station in Sandton serves Morningside, as the Gautrain bus route runs through the suburb, along Rivonia Road. The municipal bus route also passes through the centre of Morningside, while mini-bus taxis are plentiful throughout the area.
Commercial rental property
Morningside offers mainly office and retail property to the commercial market, consisting of high-rise office blocks as well as a number of shopping centres. The office space is predominantly of A or B grade, renting at approximately R115 per square metre. The SAPOA Office Vacancy report for the quarter ending in April 2017, shows that of just over 70 000 square metres of A grade rentable space, there remains about 15 000 square metres currently available. Of the 16 300 square metres of B grade space there is just over 3 000 square metres available. “When a commercial property comes onto the lease market, it is wise not to delay before snapping it up,” says Breytenbach. The head offices of Barloworld , McDonald’s, Nampak (S.A.), the South African Gold Coin Exchange as well as the Motor Finance Corporation, amongst others, are situated in Morningside. The shopping centres offer a wide variety of high-end retail stores as well as small, specialist or boutique shops.
With regard to the vacancy rate, the SAPOA report shows the average for the area stands at 21.6%, which is slightly better than six months ago. The area stands as one of the five highest in vacancy statistics, so offering readily available commercial space in a most desirable area. The average rental, again referring to the SAPOA report, is somewhat lower than Sandton’s average cost, so it could be worthwhile considering Morningside, with its close proximity to Sandton, if you are looking at moving to or investing in new premises.
Residential trends affect commercial success
The Morningside area appeals to young business folk who wish to live close to their work, want up-market infrastructure, entertainment, sport, recreation, retail outlets and other necessary amenities close by. They find all their needs met in Morningside, even to a nature area, the Outspan bird sanctuary situated on the Outspan stream, besides nearby golf courses and a choice of several gyms. “The retail opportunities are growing exponentially in order to provide for the residents as well as the many employees who daily travel into the area,” explains Breytenbach. On the other hand, businesses will attract staff who desire the type of lifestyle offered in the area. A win-win situation for all, it seems, suggesting that Morningside is a great place for commercial investment or for establishing a new enterprise.
Rawson Commercial currently has offices countrywide and will gladly 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.