Ballito Development Opportunity
Category Development
BALLITO DEVELOPMENT OPPORTUNITY !
ComProp, on behalf of SAPOA, has been conducting research on office vacancies in the greater Ballito area. This exercise subsequently stimulated further investigative research on our local factory vacancy statistics.
The good news is that the office vacancies have dropped significantly over the past year, but the bad news is that developers are not building more offices to replace our diminishing stocks with now only 10% of the existing office space in Ballito available to rent.
Factory vacancies have remained rather more consistent with the biggest shortage evident in the availability of 100 to 199m2 mini units and warehouses in excess of 1000 m2.
The only light on the horizon is that Robow Developments have started construction on their latest commercial park, Monte Carlo, situated on the western side of the N2 between Ballito and Shakas Rock. Monte Carlo will become home to Paperlogic and Tradelius who will collectively occupy 3000m2 of the development which has the capacity for a further 5000 m2 of factory, office and showroom space.
This does not however solve the potentially looming problem of office shortages. If someone doesn’t take the initiative and start building, we may not have any office stock available by the end of 2013.
Author: Comprop Ballito
