The latest research from JLL South Africa examines the impact of Waterfall Business Estate in the broader context of the Johannesburg real estate market, from a rental rates and vacancies perspective, with a focus on the commercial property sector.
With the addition of a new node to the city, the research report considers the positive and negative factors that Waterfall has contributed to Johannesburg since its introduction, and the influence that it may have in the future.
Zandile Makhoba, Head of Research, South Africa at JLL, says, “Research shows that new nodes have revolutionised cities in both domestic and international real estate markets. A successful new node has the potential to elevate a city to new heights – JLL looks at the features of these developments that improve cities and the reasons behind this, with a particular focus on how Waterfall is impacting on Johannesburg.”
Modern infrastructure and technology, green features, location, sector gravitation and collaboration with the public sector are all factors that have contributed to the success of new nodes internationally, and research points to similar trends for Waterfall Business Estate.
“The success and popularity of Waterfall in the current economic climate points to a shift in occupiers’ preference for higher quality office space – there is a new ‘minimum requirement’ developing in in the market,” concludes Makhoba.
For more info, read further here: Nodes that revolutionised cities – case study of Waterfall Business Estate NOV 2015