Illovo suburb excites with opportunities for office development

Posted On Thursday, 06 March 2014 17:54 Published by
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The Dunkeld Precinct plan which links Illovo to Rosebank along Oxford Road, will offer some exciting opportunities for office development and is well underway with its re-zoning process.

Jane Parker, Broll Property GroupIllovo is strategically placed between Sandton and Rosebank and has become a great node for corporates. The node is easily accessible via the M1-highway and Gautrain buses service the area. Furthermore, Gautrain bus stops are located along the Illovo Boulevard and allow for easy access to the Rosebank and Sandton Gautrain stations. 

According to Broll Property Group, Landlords are asking for escalation rates of approximately 9% on rentals but in terms of long term leases a rate of 8% is sometimes being agreed upon. Achieved gross rentals for Prime grade spaces are between R190/m² to as high as R210/m².

The Illovo Boulevard remains popular, offering a secure office environment, which is well serviced with bistro style restaurants and experiences minimal traffic congestion.

35 Ferguson has broken ground offering approximately 7,000m² of Prime grade offices either for lease or sale under sectional title. The site on the corner of Oxford and Chaplin Roads has been cleared and construction is ready to start offering 5,700m² either for lease or sale.

The Angles on Oxford Road, a well-positioned site, will offer 30,000m² of bulk for offices.

Illovo Point is ready to be developed offering between 12,000 -16,000m² of high rise offices with access from Melville Road.

The Dunkeld Precinct plan which links Illovo to Rosebank along Oxford Road, will offer some exciting opportunities for office development and is well underway with its re-zoning process.

Major tenants Webber Wentzel and Santam are re-locating from Illovo Boulevard which will create large vacancies during 2015/2016.

Source: Broll

Last modified on Friday, 07 March 2014 03:07

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