Real Estate Investor Magazine South Africa August 2013 | Page 17

UPFRONT companies. Some older office buildings that were designed for a single tenant are currently being divided because it reduces risk and increases the likelihood of finding tenants sooner.” The new “live, work” concept is driving mixeduse environments with secure residential estates and office parks developed together in lush, green spaces. “As the pace of life seems to relentlessly gather momentum, traffic congestion persists and time is a highly valued commodity, the trend towards living in close proximity to work continues to increase. In line with this, says Klimek, businesses are placing a growing emphasis on providing a secure work environment in pleasant and easily accessible surrounds for staff and clients. “We are seeing a new trend towards a lifestyle where one can reside in a lush and secure residential estate or area but with offices in an equally appealing, leafy environment close by. In this way the live, work concept is not limited to the more densely inhabited urban areas but is transported to a more tranquil environment offered by office parks with sprawling lawns, landscaped grounds and soothing views – away from the hustle and bustle of busy city life with its heavy traffic and constant noise,” says Klimek. The Barrow Group concurs: “The demand for office space in decentralised, safer and more upmarket suburbs continues, and is a global phenomenon. Proximity has always been crucial and continues to be so. The demand in Bryanston, where lower-rise offices are the norm, is to be located in a hub that has easy access to the surrounding residential area. It’s about working in close proximity to where you live.” Selwyn Sharon, leasing, sales and investment broker for JHI Properties, comments: “Looking back over the past two decades, it’s evident that requirements for office accommodation have changed considerably. Businesses want to be located in a pleasing environment with secure parking for their staff and clients. Considering that these days, many people spend a great deal of time at work, often outside what were previously considered conventional working hours, these added comforts become even more important in retaining quality staff.” Klimek adds that a growing desire for cost efficiencies may see businesses increasingly gravitating towards refurbished buildings or modern buildings which allow f lexible www.reimag.co.za configurations which enable the most effective utilisation of space. But technology is not only driving change in the office market. Online shopping and omni channel retailing is changing the face of shopping centres, as well as industrial properties such as warehousing and distribution. development of a number of new transport corridors, open up opportunities for commercial development ????????????????????????????)????????????????????]?????)????????????)??????????????????????????????????????????)???????????????????????????????????????????)?????? ????Q?????????????????????????)?????????????? ????????????????????????????)????????????????????????????(+?qM???????????????????????t????M???)?????? ?????????M???????? ?????