The deal was negotiated by JHI Real Estate broker, Nicholas Mdlalose, for a 400 square metre shop in Field Street.

Alan Dryburgh, JHI Broker Manager, comments that requests from nationals for space in the city are unrelenting. “This demand coupled with the stream of entrepreneurial traders into the city is ensuring a very buoyant market.”

He adds that the combination of nationals and the smaller retailer creates a very vibrant trading community, which ideally fits the city’s consumer profile.

Rentals for smaller shops can reach up to the R300/square meter, which compares favourably  with A Grade suburban rentals in the greater Durban area.

Dryburgh, comments that investors are now looking at older buildings for renovation to create more space to meet the high demand levels. “There just is not enough ground floor space available in the CBD”.

He says that this is leading retailers to consider first floor space.  Mr Price’s new shop on the corner of West and Field Streets is a prime example of this innovative use of space.

ends

Issued By:
Marshall Inc Communications
Kerry Osborne
031 563 2942
083 701 5592