Nelspruit commercial property market showing steady demand

Posted On Monday, 30 November 2009 02:00 Published by eProp Commercial Property News
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Demand for commercial and industrial property in the Lowed capital Nelspruit has remained strong in spite of the recession.

Morn FlewinThat’s the experience of the RealNet Anker office in the Mpumalanga capital, which reports steady demand for property in both categories. “Nelspruit is experiencing an influx of new businesses and franchises that are looking for premises while existing industrial concerns are buying premises for own occupation instead of renting,” says co-owner John McIntyre.
 
“The city’s catchment area includes surrounding towns as well as Mozambique and Swaziland and many national companies are setting up regional offices or distribution points,” he says.
 
Morné Flewin, the office’s commercial broker with 15 years commercial experience in the Lowed market, says the demand is underpinning commercial prices. “There are few bargains and little room for price negotiation since owners are not under pressure to sell.
 
“However, prices in Nelspruit central are about 50% cheaper than in the newer Riverside node on the R40 between Nelspruit and neighbouring White River. Prices of Nelspruit homes zoned for business that have been or can be converted to office space range between R2,5m and R5m while prices of custom-built offices start at around R9500/sqm,” he says.
 
Prime land zoned for retail development in Riverside sells from about R1000/sqm while land zoned for office space sells at about R1200/sqm. Sizes of stands range between 3500sqm and 3ha and sizes can be customised to buyers’ requirements, Flewin says.
 
Industrial space for sale in Nelspruit is priced at R3000 to R4000/sqm and that in Riverside at R6000 to R8500/sqm, depending on finishes.

Last modified on Monday, 19 May 2014 10:02

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