Demands outstrips supply in Durban commercial market

DEMAND FOR space in Durban is likely to increase towards the end of the year in the view of Colliers International, which has recorded an increase in demand in the south of Durban with a decline in stock availability.
According to Deena Yogan of Colliers Durban, there is a demand for premises exceeding 1000m2. The area’s location near the port makes it ideal for warehousing and there has been an increase in private investors over the past few months. Recent refurbishments in the area include the upgrade of the airport and Southgate Industrial Park.
Currently, the major sellers of property have been developers and the biggest interest has been from the freight services industry, he added.
Business sentiment for Pinetown, Westmead and New Germany is fairly good, although crime is having a negative impact, according to Yogan.
Demand for space in the area has increased, particularly for space between 1000m2-5000m2 .
“The area is primarily known as an established industrial node with a good retail component and a slowly developing commercial node. Its biggest advantage is its location at the confluence of the inner corridor and the north-south arterial routes. The area also offers easy accessibility, good road infrastructure and excellent amenities and facilities.”