COMMERCIAL TRENDS
“ It has become apparent that the commercial office has a role to play for team meetings and other collaborative endeavours . The market is telling us that while many folks will still work from home , an office space is also helpful for colleagues to interact and enhance teamwork , innovation as well as productivity ".
However , offices will now be smaller , with social distancing in place . “ Hot desk type services and systems that allow workers to book a desk for a day will also play an increasingly vital role in commercial properties of the future .”
REPURPOSING BUILDINGS
Another trend that will impact the commercial and industrial property sector in 2022 , which had already gained momentum in recent years , is the repurposing of commercial property into warehousing space and last mile distribution centres to meet the burgeoning online shopping market .
A functionally obsolete building can easily be repurposed into a productive , profitable space . However , there is a desperate need for the government to intervene in some areas which are facing a climate of disintegrating
infrastructure that is not conducive to business .
“ All industries and businesses have been impacted by the Covid-19 pandemic in some way , including how their commercial properties are being utilised . The rise of remote working , the boom in online shopping and heightening environmental awareness – have all influenced the commercial property market providing many challenges and opportunities . As we embark on the new post-pandemic era , which is accelerating developments towards the fourth industrial revolution , commercial properties will remain good assets to invest in .”
FOCUS ON SUSTAINABILITY
South Africa ’ s commercial and industrial property sector is on the path to rapidly increasing its green building credentials . Local property firms have noted an uptick in demand for commercial and industrial properties that are more environmentally sustainable .
In April 2021 MSCI South Africa Green Annual Property Index results reinforced the association between
62 JUNE 2022 SA Real Estate Investor Magazine