Demand for offices in the greater Durban area has sustained the momentum of last year, and looks set to soar in 2005.

JHI Real Estate broker manager, Alan Dryburgh, says that the enquiries started flooding in from early-January with only the slightest pause over the festive season. "Demand started building from the second half of last year and is still rising", he says.

Dryburgh comments that Umhlanga Ridge is in high demand for smaller premises mirrored by similar trends in Westville and Durban’s Morningside.

He comments that this demand is likely to stimulate the development market further with a particular inclination for sectional title office developments, which are showing signs of increasing popularity.

JHI broker, Chantal Williams, has been particularly active in the letting market. Recent deals of note include a five year lease she concluded for national research company, Markinor, across 319 square metres in a new office development known as Sharaf House in La Lucia Ridge; as well as a lease for 465 square metres in IBM House in Norfolk Terrace in Westville, a JHI managed building which is now fully let.

Mrs Williams has also been very active in the Morningside area where demand is high. Investors are looking to buy and renovate older houses and then let them out on long leases. The only problem, which is general to the investment market, is a shortage of stock, she says.

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