Sale and leasebacks of commercial office space where property is sold, and the same property leased back to the seller by the new owner, are again in vogue.
Telkom continues to expand its office space requirements at Durban's Old Mutual Centre, with the addition of three floors, representing 3 741 m², to its overall lease at Old Mutual's flagship building.
Old Mutual Properties is to develop and manage a new 6 300 m² warehouse and distribution facility for Simba Chips in Parow, Industria, allowing the country's biggest supplier of snack foods to centralise its operations into what will be its biggest distribution point in South Africa.
An estate agent servicing the Mitchell’s Plain area has cautioned residents against expectations of price increases, until at least into the second quarter of next year.
Amtrad Developments has joined forces with Africa Construction to establish Amtrad Africa Developments (Pty) Ltd, a property development company focused on commercial, retail and industrial property.Amtrad and Africa Construction will each own 50% of the new company’s equity, with Mutle Mogase serving as chairman and former Stocks Developments MD, Murray Thalrose, as managing director.
German buying in South African residential property is being forecast "to the point of collectively outstripping all other foreign nationals".So says Dave Rogers, managing director of Homenet.
Traditional retailers worldwide have spent the last two years watching the Internet trade threaten their businesses.
Commercial property tenants are turning increasingly to existing buildings that can be upgraded and leased for shorter periods.