Every challenge creates an opportunity. This is often overlooked in the property industry and investors often forget that markets are cyclical, and that consumers determine product.
Landlords have been encouraged in the commercial real estate market to think innovatively to repurpose buildings that may have become vacant.
Work from home and flexible office hours has seen the demand for space change and although the jury is still out on its future, the one thing that is certain is that flexibility, hot desking, and technology will change the office environment.
The availability of office space, in and around Sandton, may well create the opportunity to address the needs of the community that utilizes the office spaces currently. Addressing residential needs for office workers becomes an important opportunity and entrepreneurial thinking will lead to property developers finding innovative property development. This ranges from residential to schooling to retail. The challenge will lie with how to address the residential needs of middle income and working-class office employees who work at the various office developments.
An opportunity for developers who are innovative and entrepreneurial is the property being sold by Nedbank at 105 West Street Sandton. This property is close to the Gautrain station, within walking distance of the Sandton Shopping Centre and on the development end of Sandton, with new buildings such as Discovery, ENS and PWC on the doorstep.
The property measures 20,521m2 and has footplates that allow for numerous different development possibilities, ranging from residential to medical, educational and with possibilities for retail on the ground floor.
This property is a great opportunity for a developer with a passion for innovation and a willingness to make a real and lasting difference to the existing Sandton landscape.
If you are interested, get in touch with us today!
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