Property developers get behind SA’s office-to-flat conversion space

  • 📰 FinancialMail
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 63%

South Africa Headlines News

Industry players are finding new uses for empty office space, which has reached alarming proportions across SA’s major business hubs

If you add together all the office buildings in Sandton and Cape Town’s CBD — two of SA’s largest business nodes — the total rentable floor space comes to a hefty 3-million square metres. That’s exactly how many square metres of offices are currently standing empty across the country.

This unused space has pushed the official office vacancy rate to a record 16% for December, according to the most recent quarterly office vacancy survey by the SA Property Owners Association . That’s up from 11.6% in the pre-Covid days of March 2020, and 100 basis points above the previous high of 15% in 2003...

Source: News Formal (newsformal.com)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 20. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Improvon partners with Nedbank to develop R1.3bn Dakota Precinct[NEW EPISODE] Stefano Contardo CEO of WeAreImprovon speaks about the group’s latest project in Midrand on PropertyPod with SurenNaidoo. Download the Ep in the link below. Moneyweb PropertyNews
Source: Moneyweb - 🏆 5. / 77 Read more »

Case of woman who stole City of Joburg hard drives postponedThe case of the woman behind a spate of burglaries at the City of Johannesburg offices has been postponed to give the police time to file a bail opposing affidavit. As a mother of two kids I have battled alot with my financial state to the point of begging from friends just to survive,until I started Bitcoin trading with the help of cynthia_neliwe made a successful withdrawal of R 200,000 with the help of cynthia_neliwe
Source: SowetanLIVE - 🏆 13. / 63 Read more »

There's no racism in SA advertising, says Institute of Race RelationsThe Institute of Race Relations (IRR) said on Tuesday that there was no racism in SA’s advertising space. The picture says no It is time as south Africans particularly the blacks to stop worrying about racism... Whites never loved us...the sooner we accept that,the better period. The picture says otherwise 🤣🤣🤣
Source: SowetanLIVE - 🏆 13. / 63 Read more »

There's no racism in SA advertising, says Institute of Race RelationsThe Institute of Race Relations (IRR) said on Tuesday that there was no racism in SA’s advertising space. Haaike What's De la Rey on about now Ngentshebe eneyintwala🚶🏾‍♂️
Source: TimesLIVE - 🏆 28. / 59 Read more »

There's no racism in SA advertising, says Institute of Race RelationsThe Institute of Race Relations (IRR) said on Tuesday that there was no racism in SA’s advertising space. What can you expect from them As a mother of two kids I have battled alot with my financial state to the point of begging from friends just to survive,until I started Bitcoin trading with the help of cynthia_neliwe made a successful withdrawal of R 200,000 with the help of cynthia_neliwe Wow this just keeps getting better and better. Blood must be skilled first in this country to show the seriousness of matters 🤞🏿
Source: SowetanLIVE - 🏆 13. / 63 Read more »

Case of woman who allegedly stole City of Joburg hard drives postponedThe case of a woman accused of being behind a spate of burglaries at city of Johannesburg offices has been postponed to give the police time to file an affidavit opposing bail. For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him williamchurch09 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️ I'm sharing this because this was exactly how i saw so many posts about William church and how he was helping individuals with their trades and i decided to give it a try and luckly it went well, Contact him via his profile link below 👇👇 williamchurch09
Source: TimesLIVE - 🏆 28. / 59 Read more »