02 Aug 2011
The burgeoning growth and sustained demand for brand new, high quality commercial property in the Umhlanga area of KwaZulu-Natal’s north coast is borne out by ongoing development in Ridgeside office park.
With prime ocean views and located over the road from the successful La Lucia Ridge Office Estate, this development is conveniently positioned, bordered by the M4, M41 and Umhlanga Rocks Drive – offering easy access to major routes.
“This key growth node north of Durban goes from strength to strength, providing a catalyst for increased investment and a prime location for the business sector,” says Rob Moran, regional director for JHI Properties.
“There is no doubt that the new King Shaka International Airport has had a positive impact, and coupled with this is the recent announcement that plans are in the pipeline for the airport to offer direct routes to London and across Africa through Comair, as well as plans to develop a multibillion-rand Dube City development as a 24-hour business, trade, leisure and entertainment hub.
“All of this bodes well for the sustainability of this region in to the future,” he says.
One of the most recent buildings completed in Ridgeside office park – at a total cost of some R36 million – is a 1800sqm, AAA Grade building in which a local investor has already purchased an entire floor, in a transaction concluded by JHI Properties leasing and sales broker Chantal Williams.
“This property has exceptional ocean vistas from the building, which cannot be obstructed. The building has generous, covered verandas which can be used as entertainment areas, for braai’s, smoking or a casual lounging area – unlike most of the other buildings in the area which have excluded verandas due to the additional cost,” she says.
“With 14 buildings – including two ‘green’ buildings - already either completed or well under construction, there are many others to follow, mostly tenant driven and with a few being built for end users as well as investors seeking corporate tenants,” adds Williams.
Mark Montgomery, a local investor who purchased a floor of office space in the new building says: “Ridgeside is the new signature office node for greater Durban and reflects a trend comparable to that which occurred when Sandton took off years back when the large corporates relocated from the city centre.
“Ridgeside presents a great location, and already anyone moving here will be in the most upmarket office precinct in KwaZulu-Natal, close to regional head offices of major banks, attorneys, accountants and others who have led the move out of the city, as well as world class hotels.”
“From an investment and tenant perspective it is also important to note that the developed Gateway precinct is located to the west, the north and south comprise residential areas, while the sea creates a natural eastern barrier,” says Montgomery. “Ridgeside is currently being developed – with land already sold out – with no possible way of geographical expansion. Ultimately this translates into demand outstripping supply with the result that prices and rentals will increase.”
The newly completed building in Ridgeside has the added advantage of generous visitors’ parking, with all owner/tenant parking covered and it includes private ablutions and kitchens. The extensive use of glass, a double volume entrance and aesthetically impressive architecture completes the high appeal of the property. Currently the available space within the building is without dividing walls, providing flexible space options and opportunity to suit tenant specifications. Parking is additional, with five bays allocated per 100 square metres.
“Brand new, flexible and secure office space in varying sizes from 60 -2 000sqm is also available elsewhere in Ridgeside with a generous tenant installation allowance,” says Williams.
For more information, contact JHI Properties on 031 5342500 or via email.
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