R45m New Broadacres Office Property

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15 Mar 2013

The Business Centre offering serviced office opened a fifth property, The Business Centre Broadacres north of Johannesburg in February

The Business Centre Broadacres property is valued at R45 million measuring 2 500 square metres with 86 offices and 238 work stations.

Other properties are located in Bryanston, Fourways, Rivonia and Umhlanga, Durban, while the Century City Business Centre in Cape Town is set to open in September this year.

Valued at R45 million, the property measures 2 500 square metres offering 86 offices and 238 work stations.

It is located on 3rd and Cedar Roads in Broadacres and will service the northern Fourways areas including the Dainfern, Lanseria and Hartbeespoort areas.

Speaking to Property24.com at the launch, Ceri James, sales and marketing director at The Business Centre explains that they worked with the Montagu Property Group on this property pointing out that they have kicked-started what could be one of many commercial property developments in one of Johannesburg’s rapidly growing nodes.

“The property features very modern finishes and energy efficiency, with every room having been designed to make the most of the space,” says James.

Its architectural style and design allows in as much natural light as possible and the design is innovative.

When one steps into this property, its feel is very homely and it has a cosy atmosphere.

It offers seven state-of-the-art boardrooms with 46 shaded parking bays at R395 per month and 45 covered bays at R650 per month as well as 44 visitors' parking bays.

It offers seven state-of-the-art boardrooms with 46 shaded parking bays at R395 per month and 45 covered bays at R650 per month as well as 44 visitors' parking bays.

Lease agreements are flexible and generally range for periods of three, six or 12 months at a time.

Expect to pay from R3 900 per month for a single executive office suite to R14 900 per month for a teams office suite plus one month’s rent as deposit.

Included in the rental price is furniture such as workstations, credenzas, cupboards, executive chairs, visitor chairs, meeting tables, dustbins and framed artwork.

If you were working on a short-term project and recently started a business but do not need a traditional office per se, the virtual office is what you should consider.

James says lease terms are the same with rentals priced from R395 per month for a virtual start and includes services such as telephone answering in your company name, business address, dedicated company telephone number, email and sms notification of messages 24-hour voicemail retrieval, but offers no access to meeting rooms and boardrooms.

To access these, there is an extra charge.

The virtual office from R1 595 per month offers all of the above as well as postal and courier services, marketing of business, meeting and boardrooms at discounted rates, dedicated fax-to-email number and email account set up and managed.

According to the South African Property Owners Association Office Vacancy Q4 2012 report, gross rentals for A grade office properties in the Fourways node are priced between R80 and R147.50 per square metre.

The report also revealed that there is 146 289 square metres of rentable area for A grade offices with 16 138 square metres available for leasing and only 6 500 square metres of B grade office properties.

Property prices in Broadacres

Broadacres is a few minutes away from the Montecasino complex, and is centrally located among Johannesburg’s sought-after suburbs of Fourways Gardens, Lonehill and Dainfern.

This three bedroom home in Broadacres has an asking price of R1 850 000 and is selling through Pam Golding Properties. Click here to view.

It offers freehold homes and clusters within secure developments, making it popular among young up-and-coming executives looking to be close to their place of business as well as families looking for a secure lifestyle, according to Adrian Goslett, chief executive officer of RE/MAX of Southern Africa

Goslett points out that in 2011, Broadacres emerged out on top in a survey compiled by mortgage risk management company, Lighthouse Risk Management. The survey was based on the annual growth in property values over 2011.

“Due to its proximity to the Sandton Central Business District and competitive property pricing, Broadacres has attracted many young professionals under the age of 30 years old that work in Sandton’s financial hub.”

He says according to Lightstone data, over 47 percent of all the recent buyers in the area were aged between 18 and 35 years old, while around 38 percent were aged between 36 and 49 years old.

Nearly half of the existing owners in the area are aged between 36 and 49 years old, which explains that over 46 percent of recent sellers were from that same age category.

“Approximately 25 percent of recent sellers were aged between 18 and 35 and over 61 percent of the existing owners have lived in Broadacres for less than five years as it is a relatively new suburb that is still establishing itself,” he says.

Goslett says that around 40 percent of all property sold in 2012 was priced between R1.5 million and R3 million, with 44 of the 79 estate homes sold within this category.

“This is the most popular price bracket in the area, followed by the R400 000 to R800 000 price range, around 32 percent of property fell within that price range, while 17.4 percent was priced between R800 000 and R1.5 million,” says Goslett.

A recent Windeed report sales analysis of 13 properties in Broadacres reveals that the highest priced property had a price tag of R800 000 000 measuring 20 215 square metres at R3 957 per square metre, the average price of R26 619 031 measuring 18 104 square metres at R1 470 per square metre and the lowest R900 000 measuring 8 565 square metres at R105 per square metre.

Get a property report here and click here to find homes for sale in Broadacres.

A look at average home prices in January 2012, found the average price of a freehold home to be R1 480 million with four homes sold and R745 000 for sectional title properties (two sold).

Rent this four bedroom, three bedroom house in Broadacres for R22 000 per month. Click here to view.

In June, the average selling price of freehold homes fell to R1 170 million (eight sold) and fell further to R915 000 in August (14 sold), reaching a high of R1 640 million in September (12 sold).

The average selling price of sectional title homes in June increased to R870 000 (nine sold), falling to R565 000 in August (two sold) and reaching a high of R920 000 (three sold) in October, according to the report.

Buying and renting in Broadacres

According to Jason Shaw, Pam Golding Properties (PGP) branch manager for Fourways and Dainfern,  Broadacres is dominated by cluster and sectional title developments, which offer good value for money.

Shaw says these secure developments attract individuals from all walks of life but are particularly popular among young professionals and families some of whom are buying property for the first time.

“There is a strong, ongoing demand for these homes so they tend to hold their value well," he says.

 A number of retirement villages have been developed in recent years indicating that the area holds appeal for people of all ages, says Shaw.  

Centrally located to major road routes and shopping centres in the Fourways area and for those with children, nearby schools include Heronbridge, Dainfern College, Crawford College, and The French School Lycée Jules Verne among others.

A number of sales are to first-time buyers who are looking to make a secure investment in the area, he says .

Asked about prices, Shaw says a typical three bedroom cluster can fetch anything from between R1.2 million and R2.5 million depending on location, fittings and the facilities available.

Sectional title units are usually priced from R600 000 to  up to R1.5 million and rental apartments have asking prices of between R5 500 a month to R20 000. – Denise Mhlanga

About the Author
Denise Mhlanga

Denise Mhlanga

Property journalist at property24.com

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