The latest addition to Sandton’s commercial property sector, The Business Exchange, opened its doors this month, securing over 62% occupancy within days.
Offering both local and international businesses fully-serviced and flexible office space, The Business Exchange is situated at 150 Rivonia Road, and has already attracted a number of tenants looking to take advantage of the unique offering.This is according to David Seinker, founder of The Business Exchange, who says in an area generally troubled with high vacancy rates, the demand for this unique development shows the movement away from conventional commercial rentals to more flexible and serviced offerings in the Sandton area.
Following a trend which emerged in the US during the recession, The Business Exchange is South Africa’s first flexible commercial development for SMEs, providing access to not only resources, but also to a group of private investors.
Offering both local and international businesses fully-serviced and flexible office space, The Business Exchange is situated at 150 Rivonia Road, and has already attracted a number of tenants looking to take advantage of the unique offering.
These include the award winning real estate company Choprop, and specialised insurance product company Zamsure.
Also offering virtual office packages, the company has secured virtual tenants who require a prestigious business address and personalised services without the overheads of renting physical space. These include Mzansi Network, an SME consultant, and MLM Strategic, a professional services group.
"Many experts have shown that in the past two years empty office space in existing A-grade buildings has nearly doubled. It is therefore undeniable that businesses are looking at other options,” says Seinker.
The trend of an increased demand for more flexible, shared and serviced office space emerged in the US during the recession and has been threatening to enter the local market for some time, he says.
“This demand for flexibility will drive more such commercial property developments, particularly in Sandton as international businesses look to make it their home to gain access into Africa."
The Business Exchange, offering a variety of office setup options, features a reception area and welcome lounge for all tenants, fully equipped meeting rooms, complete IT and telecoms infrastructure, parking and a café, restaurant and bar within the building.
The space will house 40 serviced office tenants and up to 150 shared office executives with rentals starting from R9 500 a month.
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