According to reports Rosebank is the most expensive office space per square meter
ROSEBANK – Reit, Redefine Properties, has a strong presence in Rosebank and is behind several major developments in the area.
A report by Rode & Associates, property economists, Rosebank is the most expensive office property node in the country.
Soweto Urban published the surprising numbers, which show that in the first half of 2019 Rosebank’s average grade A+ (or premium grade) office market rental stood at around R245/m².
In second place was neighbouring suburb Melrose Arch which averaged at R230/m² while Sandton and the V&A Waterfront in Cape Town came in third with rentals of close to R220/m².
The property market in the office sector is experiencing a high number of open spaces – Rosebank’s office vacancy rate is currently at 7 per cent, which is much lower than the over 18 per cent seen in Sandton’s CBD.
To read the full report, click here.
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