As commercial property owners continue to compete for office tenants in a constricted market which has to a large degree favoured the latter – who are able to shop around for the best deal, landlords with foresight have raised the standard and quality of their offerings.
So says Jonathan Klimek, leasing, sales and investment consultant for JHI Properties in Gauteng, who says that enterprising property owners are capitalising on the demand for appealing, value-for-money office accommodation in convenient locales.
“Capital Property Fund has recently completing the revamp and refurbishing of the entire Fourways Office Park along with the buildings they own within Fourways Golf Park, modernising and improving each to A-Grade quality while still offering highly competitive rentals of R105 per square metre, versus around R140 per square metre for comparable space in other developments.
“A rapidly growing, major commercial, residential and retail node, Fourways is easily accessible via the N1 off-ramp along William Nicol Drive, from Witkoppen Road, or via the R511, while the increasingly popular Lanseria Airport is only about a 15 minute drive. The fact that Fourways has been included for the site of a proposed new Gautrain Station is further acknowledgement of the relevance and strategic location of the area. Over the years this node has experienced massive growth and is today a thriving community well served by good infrastructure and multiple service and recreational facilities, including the highest standard of shopping, schools, medical, fitness and health centres, sports activities, restaurants and other entertainment,” says Klimek.
He says in line with this, the residential component of Fourways has increased dramatically, underpinned by well-maintained, attractive neighbourhoods with an emphasis on security, and further boosted by an excellent resale reputation. “With proximity to the workplace a key imperative in today’s world of e-tolls, rising traffic congestion and numerous other demands on our time, the advantages of being able to live within minutes of office developments such as Fourways Office Park and Fourways Golf Park are apparent.”
As a result of the revamps and improved offering, JHI Properties has halved vacant space in Fourways Office Park from 8000sqm to less than 4000sqm over the past eight to 12 months. The remaining available space comprises pockets of office accommodation in three buildings, ranging from 221sqm to 436sqm and with the flexible option to consolidate premises to 645sqm or combine ground and first floor space to a total of 850sqm. Tenants who have already taken up space in this office park include Blue Horizon Licensing and Exposure Marketing who relocated from North Riding, near the Dome.
The improvements to Fourways Office Park were extensive, including extensive upgrading and renovation of the exterior facades to a more modern look, upgrading of the sprawling, spacious gardens with attractive sidewalks, and refurbishment of the entrance and interiors with new floor tiling and renovated kitchen and bathrooms.
Adds Klimek: “With convenient transport access, both office parks provide office space to suit a variety of businesses, from corporate head offices to business schools. The expansive gardens in each affords a very pleasing work environment with tranquil views and the opportunity to walk, even jog around the grounds, while there is good security and ample parking. Both parks offer tenant installations and beneficial occupation periods.”