New development in the Sandton central business district will see almost 200 000 sqm of new office, residential and retail developments being built over the next few years. About 48% of this is being done on a speculative basis according to figures compiled by the South African Property Owners’ Association (Sapoa).

New development in the Sandton central business district will see almost 200 000 sqm of new office, residential and retail developments being built over the next few years.

Sandton is characterised by a large number of owner-occupied development that includes major local and international banks, the Johannesburg Stock Exchange and insurance companies and legal firms.

The region is acknowledged as the premier financial district in South Africa.

According to David Reid, investment broker for JHI, some of the buildings in the central business district have been there for more than 20 years

“There is considerable potential for iconic architecture in this node. We have seen the redevelopment of commercial buildings into premier residential blocks and we expect to see greater levels of mixed-use development as redevelopment plans are unveiled,” says Reid.

Within the next five years various new developments are likely to be undertaken including:

- 9 000 sqm at 140 West Street;
- 35 000 sqm for Standard Bank in Alice Lane;
- 150 000 sqm on the site of the old Sandton municipality’s offices;
- 60 000 sqm for Old Mutual at the West, Stella and Rivonia road intersection;
- Village Walk refurbishment that will comprise 150 000 sqm of retail and office space;
- 25 000 sqm of alterations to FNB Towers.

The developments that are currently under construction include:

- 20 000 sqm of sectional title office space on the corner of Katherine and West Streets;

- 30 000 sqm  at 114 West Street;
- 18 000 sqm at 6 Sandown Valley Crescent;
- 16 000 sqm at 1 Protea Place, with Cliffe Dekker Hofmeyr Attorneys as the tenant;
- 26 000 sqm at Sandhurst Office Park.

For more information about these developments or other available office space contact David Reid at JHI via email.

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