ApexHi sells art deco castle mansions

THOSE of us who live in SA's major cities (37% of us, according to a new report) know very well the dramatic contrasts which make up our large urban environments, but we seem to struggle to come up with new ways of thinking about where we are going.

Johannesburg's Central Business District is experiencing a major resurgence in the provision of parking facilities.

The Franklin incorporates spirit and timelessness

The Gauteng government is heading towards becoming one of the biggest property owners in central Johannesburg.

Despite average GDP growth of 2,7% in the 10 years since 1993, close to 2m m² of new A- and B-grade office space was built in Johannesburg's northern suburbs. Even allowing for the 550 000 m² space that is vacant because of over development - and the 400 000 m² that lies abandoned by companies that fled the Johannesburg CBD for the suburbs - that is about 110 000 m² net take-up/year in the past decade.

The Gauteng provincial government is quietly buying properties in central Johannesburg. It appears to be assembling ownership of as many as five city blocks, an action that looks like the first phase of a multibillion-rand precinct development.

PROPERTY loan stock company ApexHi Properties is already counting the gains that will flow from the tax relief directed at property investors in older central business districts (CBDs).

Small investors came to the rescue of the Johannesburg city centre when they snapped up the portfolio of commercial properties auctioned by Aucor on behalf of Sanlam Property Asset Management

Johannesburg's central business district (CBD) has looked stark, with office vacancies at about 25% of its total gross lettable area over the past two years, according to vacancy figures from commercial property industry association Sapoa.