Survey of PE Office Vacancies

www.MyPE.co.za: The
Port Elizabeth chapter of the South African Property Owners Association
(SAPOA)
has undertaken its own research to ensure that the city is
included in SAPOA’s Quarterly statistical information on commercial
vacancies and rentals.

“This information is of critical importance if we are to attract
investment to the metro. Statistics on commercial rentals and vacancies
are used by investors to identify opportunities,” says Paul Nicholson,
Director of the Broking/Consultancy Division at Majola
& Boyd
.

He has spent the last six months researching the Port Elizabeth office
market on behalf of SAPOA, and the results will be released along with
the national survey of third quarter statistics.

“The initial data is confined to the suburban office market as
collecting information on the CBD area is proving to be more of a
challenge” says Nicholson.

All contributors will receive the results of the survey, which will
become an asset for developers and landlords in assessing trends,
acquiring property and planning future developments.

“I encourage all property owners and managing agents that have not yet
contributed to the initial statistics, to contact me. There are a
number of additional properties that have already been identified that
will be included in the fourth quarter’s Office Vacancy Survey,” he
says.

The Survey includes rental rates being achieved in various office
nodes, the overall Port Elizabeth vacancy factor broken down into the
various suburban nodes as well as new developments that are under
construction, the timing of when these properties are likely to be
completed along with stats on what has been pre-let versus what is
vacant.

“I am confident that in time this information will provide an indicator
of the total office space in the Port
Elizabeth
office market and the
average annual office take-up rate in the city, which will provide some
guidelines to future development projects.”

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