A review on the Durban CBD area
Category Market News
The Durban Central Business District (CBD) consists of an exciting mix of high volume foot traffic retail space, reasonably priced commercial space (A Grade offices at R60 – 70 / sq m), car town and associated business. Surrounded by areas such as Umbilo, the Harbour area, Berea, Morningside and Umgeni Road, these areas offer a mix of large Logistic warehousing such as the JT Ross development in Sydney Road to smaller light industry and warehousing as small as 200 sq m at a rate of approximately R40 to R50 per square metre.
More recently, many of the larger properties in all these areas, where commercial space has become available due to high volumes of blue chip tenants relocating North, are converting to Colleges and student accommodation as well as church premises and other accommodation options.
The CBD also includes 2 relatively new and exciting development areas namely Rivertown (Hunter St area) and the Point Waterfront. The rates per sqare metre are substantially lower than similar areas within South Africa or the world.
Brian Mac Nicol said: “It is encouraging to see the CBD continually being upgraded, thanks mostly to the likes of the Propertuity, Urban Lime and Mafadi groups, and in the outlying areas, the likes of Growth Point, Redefine, Shree Prop, Newlyn and JT Ross. The CBD offers good value for money for a diverse range of businesses.”
Author: Brian Mac Nicol