A Quick Property Update with Wayne Ashford
Category Market News
Commercial
Although demand for commercial i.e. offices has been sluggish, there has been a significant demand for retail and industrial properties. Slow office activity could be due to the restructuring of space as a result of Covid and government regulations. Companies are still assessing the implications of safe distancing amongst work colleagues and are reluctant to change their successful work models.
Warehousing
The implications of distancing within the warehousing and workforce environment is far more endurable, as it naturally applies to machinery, workman and their space together.
Retail
Retail has been under demand in high street properties in areas such as Pinetown where bargain hunters still search for affordably priced deals on basic foods, cleaning products and winter clothing.
Due to a recent deal with a national herbal and natural supplement company, I found myself strolling through the walkways of the old colonial streets of Pinetown. Nothing has slowed down there! It is an experience to walk down Hill Street where the paved single lane with street markets, shops and buildings are just as they were in the 50's, 60's, 70's and 80's - including the Pinetown cinemas and the old Imperial Hotel.
Admittedly I was nervous at first and felt completely out of place, however, after several visits to the shop we rented, the traders, buyers and I enjoyed some lively banter and I felt a warm sense of community and security. I would like to wish Sanjays all the very best with his latest outlet.
Industrial
We have had an increased number of inquiries within the Industrial sector relating to vacant space with almost immediate occupation. With investors wanting to sell and enjoy the fruits of their hard years of work, there is an encouraging mutual energy to trade - especially with the current bond rates and the high quality of properties on offer.
I leave you with this: Don't let yesterday take up too much of today!
Author: Admin