Landlords cash in on premium Rosebank office properties
The once quiet, leafy suburb is becoming the office location of choice for many medium-sized corporations
Landlords in the burgeoning office hub of Rosebank are not shy to charge premium-grade office tenants top-end rentals, given the demand for space in the district. The once quiet, leafy suburb is becoming the office location of choice for many medium-sized corporations and professionals who prefer a well-located but not overly congested node with pedestrian-friendly facilities. Various premium (P) grade offices are being opened in Rosebank and the rents on many of these have surpassed those in Sandton, the latest data from professional services firm Jones Lang LaSalle (JLL) show. The South African Property Owners Association (Sapoa) defines P grade office space as "top quality, generally modern space, which is a pacesetter in establishing rentals, and which includes the latest or a recent generation of building services, ample parking, a prestige lobby and good views, or a good environment". In the third quarter of 2016, tenants renting premium grade offices in Rosebank were spending...
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