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Semigration boost for commercial property Commercial property in all sectors is stronger at the coast than inland, say experts
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OMMERCIAL property in South Africa’s coastal regions appears to be doing better than its inland counterparts – and this is the case for all the sectors: industrial, retail and even office property. Semigration could be one of the the reasons for this. FNB’s property broker surveys show that Johannesburg is the weakest metro, says commercial property economist John Loos. “It is still early days, so it is difficult to know exactly why this is the case but there is talk of notable semigration to the coast.” While such domestic relocation has not skyrocketed, he says the “Zoom boom” is keeping the trend going. “I think that the Western Cape – not just Cape Town but the southern Cape and outlying towns in the province – has a lot to offer to affluent and highly skilled members of the workforce because they can increasingly work more remotely. They do not need to be in the Cape Town, Joburg or Sandton CBDs that often, so those outlying towns can do particularly well.” Loos says this is driven by the
residential purchasing power that boosts such economies, and can be seen in the likes of Somerset West, Hermanus and George, which have seen their economies doing better growth-wise than the big cities. “And this could mean that, although these towns’ commercial property markets are small, they could be the outperformers. Even KwaZulu-Natal’s North Coast towns, like Umhlanga and Ballito, can benefit from the Zoom boom as it helps to sustain semigration.” While the economy is still weak, he says the country’s manufacturing sector has seen a slight comeback. “The inventory build-up has not been huge but there is quite a lot of optimism around logistics and e-commerce which, in a big way, seems to be driving demand for industrial space.” This sector will therefore be the least oversupplied of all commercial property, although it will not go as far as to be undersupplied. Gary Vos, franchisee of Rawson Cape Metropole Blaauwberg Commercial, says industrial and warehousing vacancy levels in the area have increased by 30% compared to this time a year ago. “We are finding that rentals have picked up and we have received a slight increase in enquiries for
rentals,” he says. Properties between 200m² and 500m² are very popular, while bigger properties stand vacant for a lot longer. “Usually, 1 000m² to 2 000m² properties would find a tenant in one or two months once they have been listed. But now we are seeing them stand vacant for six months and up to a year.” Rental prices in the Blaauwberg industrial market have come down by 10% to 15%, says Vos, and this could be because tenants who have been renting industrial properties for many years have negotiated lower rents with their landlords. “Tenants are very aware of the rent per square metre within industrial areas and they are not afraid to use it as a negotiating tool. Tenants may ask the landlord to bring the rent down to the current market rental value or they will find something else.” Overall tenant payment performance in the commercial property market since the hard lockdown continues to improve monthly, says TPN chief executive Michelle Dickens. Commercial tenants in good standing increased to 62.52% in the first quarter of this year. “Good standing refers to a tenant whose account with their landlord
is fully up to date, including repayment of all arrears. Commercial landlords are accustomed to 80% of their portfolio in good standing.” However, while prior to lockdown only 5% to 6% of commercial tenants did not pay their rent, the hard lockdown saw 20% of tenants skipping rental payments. During the past three quarters post-lockdown, the number of nonpaying tenants has stabilised at 12%. “The reality for commercial landlords is rent deferrals will continue to hamper the recovery of the number of tenant in good standing as tenants in the ‘partial paid’ category slowly pay off their arrears. “From the lowest point of 30% of tenants only settling part payments to a current figure of 24% of tenants partially paid, landlords will want to see those halve to 12% as per their pre-lockdown experience.” Dickens says the retail sector was the hardest hit. In May last year, only 40% of tenants were in good standing but this rebounded to 61% in March. “Industrial tenants bottomed out to 54% in May 2020 and recovered to 66% in March 2021. But the office sector takes the sting out of delinquencies with 60% in good standing in May 2020 and improving to 69% by March 2021.”
Logistics and e-commerce are helping boost the country’s industrial property market. PICTURE: JASON GOH/PIXABAY
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Letter from the editor THE commercial property sector is under pressure. I wish there was some light at the end of the tunnel, but talking to those in the sector, it’s clear they are going through a tough time and are under severe stress. For one, conversions of office space to residential have not quite hit the sweet spot. At the same time, South Africans – with labour data showing 1.4 million fewer are employed compared to the same time last year – are still reeling from Covid debt, meaning less shopping, less buying and less holidaying. Companies themselves are calling for hybrid work weeks with some offering a day or two in the office, or even just a “hot desk” shared by different workers at different times. None of this bodes well for commercial property owners and tenants. While retail is battling to maintain its position and the office sector is struggling, it’s the hotel sector that has been hardest hit. With less foreign travel and domestic travel also restricted because of Covid debt and, well, Covid, it doesn’t look good. Construction companies also tell us building costs are high and things are tight. Distressed companies and affected landlords are under pressure to sustain themselves. Many tenants need urgent help from landlords who themselves are battling. Faced with having empty properties, some landlords have had to relax their terms, offering rent holidays or other concessions. Of course what’s bad for some is good for others and there is probably no better time for prospective tenants to get a good deal when it comes to renting office space. Some tenants are even being given the first three to six months rent-free if they sign a long lease. Surprisingly there are some who say this decade may still see a boom. Looking at the picture painted by economists, looking at the stats as well as talking to commercial property owners at the moment it’s hard to see where this will come from. However, this sector is known for its innovation and adaptability, and we are likely to see new emerging trends. We are already seeing good things in the industrial sector, especially with storage facilities which have grown over this period. Let’s hold on to these green shoots and not be discouraged. Warm regards
Vivian Warby vivian.warby@inl.co.za
The office property sector will remain under severe pressure this year, say experts.
Office property sector facing rough patch Experts say this is no time to be in hotels either, thanks to the effects of the pandemic, which means foreign visitors aren’t coming and locals can’t afford to stay in them BY BONNY FOURIE bronwyn.fourie@inl.co.za
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HE OFFICE property market continues to wallow in a pit of oversupply and rental income pressure – and not even the trend of officeto-residential conversions will be able to save it – not anytime soon, anyway. The situation for hotels is even more depressing, says FNB commercial property economist John Loos. The commercial property market, generally, was under pressure in terms of rising vacancy rates even before the coronavirus pandemic and lockdown but the past year has been the toughest for a long time, “for obvious reasons”. Citing recently released MSCI data for last year, Loos says the overall vacancy rate for all commercial property was 8.7%, up from 7% in 2019 and 5.9% in 2017. While the rates for last year were 5.8% for retail and 5.9% for industrial property – which “typically have lower vacancy rates anyway” – the rise in office rates was most noticeable – 16.2%, from 12.7% the previous year. “Office property does have a very high natural vacancy rate but there is no doubt that it is in a spot of bother.” This sector is not helped by the fact that residential rental vacancy rates – which will have an impact
on the possibility for conversions to assist office space demand – were even higher at 18%, a significant increase from 10.4% in 2019. While Loos says there are occasional announcements of office-to-residential conversions in Sunninghill and Sandton in Joburg, and in Durban, he is not convinced that the trend is widespread or that it will absorb much of the oversupply. To do this, office properties would need to be converted into more affordable rental homes, which is often problematic due to the costs of such conversions. “The big problem in places like Sandton, for instance, is that there is not only a high office vacancy rate but also a high residential vacancy rate... so, I don’t think there is room for more luxury, upmarket residential properties. “If you are going to do something with office buildings, they will need to be converted into more affordable residential offerings. “This will then change the income demographics of areas like Sandton, Sunninghill and Rivonia, and these will be big changes. Even retail offerings will have to change significantly. So, I do not see it playing out any other way. “If the residential vacancy rates were low, then fine, we could re-purpose like crazy, but not
when there is an oversupply of residential property too.” “Quite a few” conversions are taking place in Sandton, Randburg, Sunninghill, Rosebank and the Johannesburg CBD, says Zeenat Ghoor, chief executive and founder of Aspire Consulting, but such re-purposing is made “more challenging and less popular” by the building costs. “The buildings need to be configured in a way that makes it possible to be converted to residential and the price of the building needs to be favourable. Considerations like parking, location and town planning schemes are also important.” This means while a high percentage of unoccupied office buildings can be converted, the sales costs have to be measured. “The next conversion (trend) could likely be office buildings to sectional title offices or mixeduse spaces, so there is not an oversupply of residential units,” she says. The past two years have seen an “aggressive push” towards office conversion to co-working spaces. This is due to businesses downscaling and opting to have staff work from home. Ghoor adds: “There has been a shift in thinking about working and it has become acceptable to have
meetings online and work at home. While this has simplified travelling, reduced travelling costs and kept us safe, a large percentage of people prefer face-to-face meetings. “Humans also need contact with others to thrive, grow and learn, so a co-working space provides the interaction space needed at a much reduced overhead costs.” Gary Vos, franchisee of Rawson Cape Metropole Blaauwberg Commercial, says there are “twice as many” offices than the market needs. “For that reason, some of these offices are staying vacant for longer periods, while others are being converted into residential apartments. Much larger offices are now being subdivided and used as communal offices (letting desk space only).” The “real dog” of the property market though, Loos says, is hotels, the smaller and often-referred to as the fourth sector, of the commercial property market. “This sector will be worst of them all, I think. Foreign tourists are not coming back in a hurry, domestic tourists are cash-strapped, so holidays have been put on the backburner, and a lot of business travel is not coming back. The ‘Zoom boom’ has been successful, so the hotel property market will be under serious pressure this year.”
DISCLAIMER: The publisher and editor of this magazine give no warranties, guarantees or assurances and make no representations regarding any goods or services advertised within this edition. Copyright ANA Publishing. All rights reserved. No portion of this publication may be reproduced in any form without prior written consent from ANA Publishing. The publishers are not responsible for any unsolicited material. Publisher Vasantha Angamuthu vasantha@africannewsagency Executive Editor Property Vivian Warby vivian.warby@inl.co.za Features Writer Property Bonny Fourie bronwyn.fourie@inl.co.za Design Kim Stone kim.stone@inl.co.za
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Mixed-use precincts are good investment opportunities
LOCALS SLOW TO EMBRACE WORK-FROM-HOME THE GLOBAL shift to remote working has been significant but South Africans still need to get used to the idea of a permanent work-from-home model, believes George van Heerden, head of commercial property for Re/ Max Border in East London. “The shift has, of course, had an impact on commercial property as tenants have downgraded to smaller spaces, hence the higher demand for smaller
offices.” he says. Pre-Covid, the commercial market was active but there were already indications of a possible slowdown. “Larger office spaces were starting to stand empty for longer than usual as landlords still expected a high rental yield. On the other hand, demand for retail and warehousing space was still high pre-Covid.” Van Heerden says
N E W S
demand for these spaces as well as for small office spaces below 100m² has continued to remain active. But demand for larger offices remains a concern, with many standing vacant. He advises landlords to look after their tenants and not expect to see the same rental yields they received in previous years. “A paying tenant in your property is better than an empty property,” he says.
THE ATTRACTION of mixed-use developments that blend commercial office space with retail and residential living is not just about convenience. Paul Upton, who heads new developments for Dogon Group Properties, says they also create exciting investment opportunities with the option of attractive rental returns. “This is because most are situated in central urban spaces, so the demand from potential tenants is high. “As the world population continues to rise, suitable land for development is becoming scarce. “In order for mixed-use developments to be a success, getting the right mix of retail, office and accommodation is crucial, he says. If each unit does not complement the other, developers can potentially struggle to fill the new space.
Demand for small office spaces – below 100m² – is active. PICTURE: MAX VAKHTBOVYCH/PEXELS
“For example, if there are retail units in the form of shops, cafes and bars, the right combination of accommodation and office
Office space ‘will be worst performer’
space will impact these businesses’ efforts to receive footfall and patronage. Developers also have to consider the needs of each business and ensure that these needs aren’t to the detriment of others within the development, such as noise disturbance from Mixed-use properties can be attractive investments with high rental returns. PICTURE: DOGON GROUP PROPERTIES
a restaurant that could potentially affect apartments above it, and so forth.”
LIGHT AT END OF TUNNEL FOR INDUSTRIAL PROPERTY
The commercial property sector is expected to fare better this year than last. PICTURE: BURST/PEXELS
LAST YEAR saw retail property and tenants taking a bigger income knock than office space but this year will change that, says FNB commercial property John Loos. “This year swings around and office becomes the worst of the three main sectors because the sharp rise in office vacancy rates is putting pressure on market rentals.” He says many companies are starting to scale back on their office space, not because they are under financial stress but due to the success of working from home. “Industrial property will be the best of the lot.” Overall, this year will still be a year of negative total returns for the property market but less so than last year. “I think it will be another year of capital value declines as, typically, these markets do not adjust that quickly. There is resistance to drops in valuations and so there will be a lag impact of last year’s recession. This will put pressure on rents and vacancy rates will rise.” It will, therefore, not be a strong year for commercial property. “The economy is still struggling to get back to a GDP level of 2019, so that is not going to demand a huge amount of additional space... “But everything will be a little less weak than last year.” Loos believes industrial property will be the best performer, followed by retail, office and then hotels.
Demand for industrial property should improve this year. PICTURE: PIXABAY THE DEMAND for industrial property is likely to “slowly pick up” this year. Gary Vos, franchisee of Rawson Cape Metropole Blaauwberg Commercial, says this will probably occur after the third wave of Covid-19 recedes, and much of the working population has been vaccinated, which will contribute to economic recovery. “We could possibly see positive
increases in demand and the filling of at least 50% of the vacancy rates for the industrial/warehouse sector towards the first half of 2022.” Office occupancy rates, however, will take longer to get back to pre-Covid levels as people have become used to working from home now. “At least 20% of people who used to work out of an office are now permanently working from
home,” Vos says. Many landlords who own large office spaces will choose to convert them into residential apartments as the demand for residential units is much higher. “The retail side will see slow progress in demand as businesses slowly recover financially. Supply will still be at a steady pace and new developments are set to kick off once demand increases.”
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The ‘doughnut effect’ means that South Africans no longer have the need to live in high-density areas. PICTURE: ALEKSEJS BERGMANIS/PEXELS
Doughnut effect hits office nodes Property professionals predict interest rate hikes soon in the commercial sector, as CPI and inflation rise, mirroring global trends Q: What is the doughnut effect in terms of commercial property? A: Big office nodes currently have some interesting risks, a major one being what is referred to in the US as the “doughnut effect”. That hollow part of the doughnut symbolises the CBD (or decentralised office nodes, in our case) that underperforms the more outlying suburban areas because there is no rush to be in these nodes any more from a residential point of view. So, would people want to live in the high-density areas of the Cape Town CBD or Sandton or Sunninghill? I do not think so. So, I think there will be a lack of demand for residential and office space and that means more significant value drops there than in many of the outlying areas. – John Loos, FNB commercial property economist Q: As an aspiring commercial property investor, I am trying to ascertain the current state of the rental market in terms of tenant payment performance. Is there any improvement? A: Commercial tenant payment performance is typically a mirror of the economy and strongly influenced by economic growth as measured by GDP. Tenant payment performance levels tend to be higher when there is economic growth and lower when the economy is struggling. This tendency was particularly evident in 2020. Although commercial tenant payment performance continued its recovery trend in the fourth quarter of 2020, it is a long way
off from being fully recovered. In the second quarter of 2020 – at the height of the lockdown – only 50.36% of commercial tenants were in good standing with their landlords, according to TPN’s Quarter 4 Commercial Rental Monitor. This figure recovered to 56.19% in the third quarter and to 61.2% in the last quarter of 2020, indicating a gradual recovery in tenant payment performance as lockdown restrictions were eased. Tenants in good standing are those who have settled their balance in full, including for additional charges such as parking, utilities, municipal costs and arrears. However, although commercial tenant rental payment performance has shown signs of recovery, of concern is the fact that the rate of recovery is slowing down and continues to remain well below pre-Covid-19 levels of 77.85%, which were recorded in the first quarter of 2020, and significantly below the high of 83.56% achieved in 2012. – Michelle Dickens, chief executive officer, TPN Credit Bureau Q: If I decide to invest in commercial property, which sectors are faring the strongest in terms of rental payments? A: Retail made the best recovery of all the commercial property sectors by the fourth quarter, recovering from a low of 45% in good standing in the second quarter to 61% in good standing by the end of the year with lower vacancies cushioning the higher delinquencies.
The industrial property sub-sector saw tenant rental payment performance improving from 54% in the second quarter to 65% by the fourth quarter, according to Commercial Rental Monitor. This sub-sector is heavily impacted by the manufacturing sector. Indications are that a further recovery in this area will be hard to achieve given that the Manufacturing Purchase Managers Index New Sales Orders for the first quarter of 2021 shows only a mediocre performance. Exacerbating the challenges facing this sub-sector are power-supply disruptions. Although power disruptions impact all tenant sectors, they impact industrial tenants the most. Our data indicates that the office subsector was the best performing category in 2020 with 61% in good standing in the second quarter, recovering to 71% by the fourth quarter. However, this is the sub-sector likely to face the most significant challenges going forward, given the higher vacancies as many businesses opt to keep their employees working from home. Outperforming all three major commercial property sectors was the storage sub-sector which recorded only a moderate dip of 78% of tenants in good standing in the second quarter of 2020. However, by October this figure had recovered to 90%. – Michelle Dickens, chief executive officer, TPN Credit Bureau Q: What does the recent Reserve Bank announcement that the repo rate will remain at 3.5% mean for commercial property?
A: Interest rates have been held flat, given the data coming through, but it’s quite clear that the Consumer Price Index and inflation figures are trending upwards – mirroring a global trend. It is highly probable that we will be seeing interest rate hikes in the near future, with expectations that the inflation rate will rise to 5.1% this month. This window of opportunity that investors have had to buy property on the basis of low interest rates (enabling them to pay more attractive yields to sellers) and perform big transactions on properties with long-term leases is coming to a close and sellers should capitalise on the status quo. The projected growth rate of 4.2%, which is the highest it has been in over a decade, is a sign of market strength that has been sorely missed and that will be welcomed by the commercial property sector. The last time we saw such high growth projections, in 2007, we saw huge asset price inflation and a spike in property prices and rents. However, the challenge in this cycle is that, because of Covid-19, there is a huge glut in commercial office space vacancies. Vacancy in this sector would have to be taken up before we could see any actual growth and, given the rise of remote working, the demand for office space has significantly dropped. On a more optimistic note, industrial real estate still has relatively low vacancies, so we hope to see net growth and development in that sector. – John Jack, chief executive of Galetti Corporate Real Estate
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PrePAre To sell yoUr home In no TIme By followInG These ImPorTAnT sTePs If you’re looking to sell your property, then chances are that you’ve kept a close eye on the property market over the last few months, and might feel slightly anxious about competing with other sellers in the market. There are some smart ways to ensure your property sells in no time – and that’s by knowing what the buyers are shopping for. Here are five pointers to help you along the way. 1. Know the buyers No, we don’t mean that you “stalk” potential buyers on Facebook. Instead, we’re suggesting you get a better understanding of the type of buyers who are likely to purchase the property. There are generally two types of buyers, namely Opportunity Seekers and Primary Residence Buyers. It’s crucial that you understand what each of these buyers’ objectives are, and where your property fits in. The Opportunity Seeker is concerned about price and value for money – they are interested in investment properties, fixer uppers and anything that will enable them to make a solid return on investment. “Generally, this buyer has the cash to their disposal, which allows them the power and command to buy the best property at the best price. The Primary Residence Buyers are more likely to be first time buyers and those who are downscaling or up-scaling. While price matters to these buyers too, they are also concerned about location, modern finishes, enough space for a home office, and anything deemed important for those who will live on the property. Once you have an understanding of the two types of buyers, you will be able to assess which one your home is more likely to attract. This, in turn, will help you to set up a strong marketing plan that will aid in heightening the appeal of your property to the potential buyer. 2. A well-marketed property A good marketing plan is an important factor in selling your home. Buyers in the current marketplace are more knowledgeable about what is happening in the market; they are proficient in researching the current trends. For example, buyers are aware that a property that’s been on the market for longer than 90 days could indicate that it is overpriced or flawed, either in its location or structure. A seller must understand that their property needs to be marketed alongside a good mix of other properties. For example, if an agent dominates in a specific area, that agent is likely to have all the best properties on his book for that area – buyers are likely to know this and might call on his agent to show his portfolio of properties to them. If your property is not in that mix, you might miss the right buyer. A great agent also knows the key, unique aspects – such as location, amenities and features of your home – that will increase the appeal of your property to potential buyers. This knowledge will aid your marketing plan. An agent will also help you determine which type of buyer your home will attract.
virtual.
3. The right price A good agent is not only necessary to help market your property, but plays a pivotal part in helping you set the right price for your home. An undervalued property will cause you to lose money, while an overpriced property will remain stagnant on the market, also costing you. A comparative market analysis – which is done by a qualified estate agent – will realistically compare your property with others in the marketplace and determine a good price for your property. As mentioned before, we recommend that you use the services of an agent who knows the area your property is located in and who also has a few similarly-located properties in their portfolio. A proficient agent knows the location and the value of properties in the area, which will help you set the right price. If a property’s price is right, sellers need not worry that their property might not sell quickly. 4. Be prepared to negotiate While the right price is pivotal in a buyers’ market, sellers should still be open to negotiating. Nowadays, buyers are well-informed and well-researched, so make sure you’re armed with a fair comparison of properties sold in the area. Negotiating will be strengthened when you are cognisant of the average size of properties sold in the area, where your property fits in, and its unique selling points (such as a possible expansion of a garden cottage for additional rental income) – these are all factors that will come into play around negotiations. We also understand that negotiating can be daunting. A qualified agent should do this on your behalf to ensure that both buyer and seller are satisfied with the outcome. Lastly, speak openly to your agent about those aspects that you could negotiate on before it gets onto the negotiating table. Update, don’t renovate Have you considered building a garden cottage in an attempt to increase the price of your home with a unique selling point? Be careful not to over capitalise on your property. Major renovations don’t always determine the price and might not be the drawcard that will eventually sell your home. Instead of major structural renovations in the hope of pushing up your property price, rather declutter and clean your home. Focus on small cosmetic changes such as painting your home, replacing old light fixtures with something that is modern and swapping out those old kitchen cabinet handles with something fresh. Significant renovations can become a costly exercise and often yields very little in return on the investment. Small, inexpensive changes are usually all that is needed to give your home a facelift, and increase the appeal of your home to buyers. If you are ready to sell, we will help you sell your property – quickly, easily and at the right price. Get in touch with our team of neighbourhood experts for a property valuation or advice on selling your property. Contact us on 021 658 7100, email marketing@rawsonproperties.com.
Looking to sell your home? we’ve got it covered!
Part of our new reality.
We’ve got a range of virtual services that will make selling your home safer and easier.
Virtual Showhouses
oUr vIrTUAl vAlUATIon: Using our innovative tech and up-to-theminute data, together with the expertise and insight of our neighbourhood experts, we can now offer you the best valuation in the business - all done without a visit to your home.
oUr InTerACTIve 3D vIrTUAl ToUrs: Using HD tech, 3D mapping and beautiful imagery, our virtual tours bring your property to life.These tours allow your buyers the opportunity to tour your home from the comfort of their chairs!
Sell your property the way better way.
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vIrTUAl showhoUses: Using our Rawson 3D virtual tours we can ‘walk’ all interested buyers through your property remotely, making sure that only the most serious, qualified buyers end up stepping through your door.
rAwson ProPerTy GroUP
021 658 7100
www.rawson.co.za
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SearchShop helps property buyers and sellers make educated choices.
KNOW THE INS AND OUTS OF ANY PROPERTY BEFORE DECIDING TO BUY OR SELL
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S E A R C H S H O P
Buying or insuring property can be intimidating, especially due to the uncertainty associated with property values. But, with relevant and accurate information at your disposal, big decisions – such as choosing the right neighbourhood or right price at which to buy or sell a property – can be made with complete confidence. Having an information partner that can tell you all the details, terms, risks and costs of every buying decision can, therefore, save you headaches and nasty surprises later on.
REATED with the modern buyer and seller in mind, SearchShop is a convenient information partner which aims to help users make educated choices. The web and mobile app allows users to perform live searches for property, companies and individual owners on the go. Users can also get instant reports and modify their searches to get specific details about a property’s value and location. In addition to SearchShop’s convenient tools, its built-in safety features make property transactions less intimidating. The application obtains details directly from the source, while secure payment technology allows users to safely complete all transactions without leaving the platform. Whether you’re upgrading your company’s premises, investing in a rental opportunity or moving your family into a new home, having the right information always helps you make better decisions. SearchShop gives you all the property information you need in a matter of seconds, saving you time and allowing you to make better decisions. With free registration and no contracts, what are you waiting for? Go to searchshop.co.za or download the app from the Google P lay Store and start making happier, more informed, property decisions today!
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CONGRATUL ATIONS
OUTSTA NDI N G SA LE S - M AY 2 0 21
R E A L E STAT E W I T H A D I F F E R E N C E O U R R E L AT I O N S H I P - O U R S E R V I C E - O U R AT T I T U D E
SELLERS: LET
DO THE SAME FOR YOU
d o g o n g r o u p . c o m A visionary company with decades of experience
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G REEN P OINT - R 7.5 M I L L I O N
A B ER DEEN - R 1. 6 8 MIL L IO N
NEW RELEASE
PRICE REDUCED
Web Ref: RL11273
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C O N STAN T IA UP P E R - R 14 MI LLI ON NEW RELEASE
Web Ref: RL9826
THE BEST VIEWS IN THE ENTIRE BLOCK
J U N E
Web Ref: RL11272
VIC TORIAN HOME IN THE KAROO
You’ll fall in love with this modern 2 bed apartment. The apartment is airy, large, open and leads directly to the shops, restaurants and coffee shops. 2 Parking bays
Stylish & original Victorian style home. 4 Beds, 2 baths, farm-size kitchen. Living area dining room & sun room. Staff accommodation, study, garaging & a lovely garden
GAVIN GOLIATH 082 963 0000
DENISE DOGON 082 449 6608
ORANJE ZICHT - R 2 .1 M I L L I O N
ZO N N EB LO EM - R 1.9 95 MIL L IO N
STYLISH MODERN FAMILY HOME
This superb newly renovated 5 bed home in Bel Ombre, Constantia is ideal for family living and entertaining. Staff accommodation, double garage & good security
BERNICE 072 942 0548
ALEXA 082 349 7799
GRE E N P O IN T - R 3.995 MI LLI O N NEW RELEASE
NEW RELEASE
E XC L U S I V E
Web Ref: RL10643
Web Ref: RL11283
TOP FLOOR GEM
This is a must see for investors & first time buyers. 2 Bed apartment with enclosed balcony & p/bay. Boasts plenty of natural light & luscious outlook. Size: 80m2
DUNE TANCREL 084 358 4910
LI MI TLESS P OTENTI AL
North facing 2 bed, 1 bath home, with views into the working harbour. Original strip wooden floors, private courtyard gardens. Kitchen, lounge with fireplace & garage
BYRON 082 401 5179
RONDEB OS CH - R 1.4 5 M I L L I O N
E XC L U S I V E
Web Ref: RL11275
ELEVATED UNIT IN SOUGHT- AFTER “ECLIPSE”
North facing, immaculate 2 bed unit offering an open & bright outlook & large open balcony. Aircon in lounge, open-plan kitchen, storeroom & 2 parking bays
KEITH 083 540 5033
ALISON ROBB 082 956 9506
SA LT R I V ER - R 1.195 MIL L IO N
PARKL AN D S - R 950 000
PRICE REDUCED
Web Ref: RL11007
E XC L U S I V E
Web Ref: RL9646
INCREDIBLY WELL POSITIONED APARTMENT
GRAB THIS OPPORTUNIT Y TO INVEST
Web Ref: RL11185
E XC L U S I V E
HURRY THIS IS FOR YOU IN PARKL ANDS
Large 2 bedroom apartment in the heart of Rondebosch. All amenities within a 200m walk from the front door of the apartment block. Good security and 1 garage
This 41m2 bachelor apartment is high up on the 5th floor with uninterrupted views of Devils Peak, Table Mountain & Lion’s Head. It also has high ceilings & parking bay
2 Bedroom apartment for sale in the heart of Parklands. A walk away from all amenities & easy access to public transport. Excellent security & 1 garage
MATTHEW SCHRIRE 082 963 0000
DUNE TANCREL 084 358 4910
NATALIE KOCH 082 393 8923
CITY CENTRE - R1.499 MILLION (VAT INCL)(NO TRANSFER DUTY)
B ER GV L I E T - R 1. 33 MIL L IO N
GARD E N S - R 2.25 MI LLI ON
Web Ref: RL10175
GREAT VALUE WITH THIS STUDIO APARTMENT
Web Ref: RL10783
Actively managed on AirBnB, balconies, fitted Smeg appliances, spectacular views & so much more. Experience the buzz of Bree Street & the pulse of urban city living
NATACHA NEUBURGER 083 449 9933
NEW RELEASE
PRICE REDUCED
PRICE REDUCED
Web Ref: RL11271
CONVENIENTLY LOCATED
2 Bed unit is filled with natural light. Exuding warmth & character with polished parquet flooring throughout. Large lounge area, good security, garage & 1 p/bay
MEGAN 071 266 6655
A CL ASS I C M OVE-I N-R I GH T-N O W
A North facing apartment with incredible city & mountain views. Open-plan kitchen, lounge and dining room. Good security and 1 parking bay. Size: 50m2
LEAH 082 608 3388
Rentals 021 433 2580 A visionary company with decades of experience
GAVIN GOLIATH 082 963 0000
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HOME LOANS
Now is the time to find out how much you qualify for as the repo rate is at a record low. Celestine is always available to take your call and guide you through the process from application through to registration. She will pre-qualify you for a home loan before you start house hunting. A pre-approval is very useful when house hunting as it helps the agent narrow down which properties to show you and not waste unnecessary time. Complete one application and she will apply to all 4 major banks and negotiate the best interest rate on your behalf. Call her for quick and efficient service Please feel free to contact Celestine at any time on 084 559 1786 | celestine@property360.co.za
www.property360.co.za
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What’s new in
Gauteng
OR Tambo International Airport, Johannesburg. PICTURE: RED CHARLIE / UNSPLASH
TO ADVERTISE HERE Leigh Auret 074 991 3373 Shevon Philander 078 422 4925 Anne Reddy
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Larissa Marks 0 7 6 2 3 1 1 0 8 9 advertising@property360.co.za
leigh@property360.co.za shevon.philander@inl.co.za anne.reddy@inl.co.za larissa.marks@inl.co.za w w w. p ro p e r t y 3 6 0 . c o . z a
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STYLE DÉCOR- ONLINE AUCTION!!
MANUFACTURERS, RETAILERS & WHOLESALERS OF ORNAMENTAL PRECAST CONCRETE PRODUCTS: PRIME PROPERTIES IDEAL FOR FURTHER DEVELOPMENT, STOCK, MOULDS, LOOSE ASSETS AND MORE! - BETWEEN PTA & HARTBEESPOORT OFFERED SEPARATELY & AS GOING CONCERN
ONLINE BIDDING: 23-24 JUNE 2021 BID AND REGISTER: www.vansauctions.co.za STYLE DÉCOR, VAN DER HOFF ROAD EXTENSION, MAGALIESMOOT, PRETORIA
Lot 1 Lot 2 WEB21/0047
LOT 1: Remainder of farm Uitzicht Alias Rietvalei 314 JR Extent: 9,3476 ha GLA: 9270.54 m² Zoning: Undetermined Approved consent uses: Sale of garden furniture; general dealer in hardware and building material; general dealer in groceries; clothing; fresh vegetables and fruit; doctor’s consulting room; general dealer of articles for interior decorating; gymnasium; manufacturing of fibre glass decorations and other products, which are exercised. Rezoning has been approved to special: Manufacturing and storage of concrete and fibre glass products; place of refreshment; shop; plant nursery; residential buildings for employees; recreational facilities; one second dwelling; subject to conditions, not promulgated. Improvements: - Double volume steel structures x 3, storage, mould store, shop & factory. - Large display and shop areas, cubicle offices, bathrooms and boardroom facilities. - Ample open and covered on-site parking bays. - 2 dwellings plus flatlet. - Large semi-double volume storage facility (147.36 m²). - Gymnasium - Staff ablution and security gate. - 5 equipped boreholes and a windmill and 2 boreholes not equipped - There are 15 x 5000 liter tanks and 2 x 1000 liter tanks fed by rainfall. - Reservoirs: There are 14 x 5000 liter reservoirs which includes 1 x 5000 liter concrete reservoir on roof of dwelling, fed by boreholes. - Large yard area - Vacant land: ± 5.2 ha Current rental income: ± R460,794 p.a., balance owner occupied. Gross annual rental income potential: ± R3,259,431. LOT 2: Portion 6 of farm Uitzicht Alias Rietvalei 314 JR Vacant land, fully fenced with concrete pallisade fencing & old building currently used as storage facility. Extent: 4,3113 ha Zoning: Undetermined Approved consent use: - To erect 13 blocks of self-storage units with a maximum building size of 23,354m². - Maximum height 2 storeys. - Ideal for industrial development. - 2 boreholes not equipped with pumps - 1 x 5000 liter tank fed by borehole LOT 3: Batching plant and vibrating tables LOT 4: Brick making machinery LOT 5: All stock - complete list available on request. LOT 6: Moulds LOT 7: Masters LOT 8: LOTS 1, 3, 4, 5, 6 AND 7 OFFERED AS A GOING CONCERN!
Manufacturers, wholesalers and retailers of ornamental concrete products and moulds since 1965! LOOSE ASSETS OFFERED SEPARATELY: FORKLIFTS, TRUCKS, TRACTORS, TROLLEYS AND GYM EQUIPMENT COMPLETE LIST AVAILABLE ON REQUEST.
R100,000 Registration fee, R1,750 Vehicle documentation fee, plus commission plus Vat. Property: BIDDERS TO REGISTER ONLINE, REGISTRATION FEE 10% deposit & commission plus Vat. Viewing: By appointment. Bidders must register and furnish proof of identity and residence. Regulations of the Consumer Protection Act: www.vansauctions.co.za. OF R100,000 PAYABLE VIA EFT ONLY, FICA DOCS Auction rules can be viewed at 36 Gemsbok Street, Koedoespoort, Pretoria REQUIRED TO BE ABLE TO REGISTER. Right is reserved to add, combine and remove lots. Tel 086 111 8267 | Auctioneer: Martin Pretorius
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