Booming commercial and industrial markets in Morningside and Greater Durban
Category Chas Everitt Commercial Division
Durban’s commercial and industrial property markets are experiencing good growth as the demand for office and warehouse space continues to rise. In line with this, developers have been quick to add new accommodation in key regions such as Morningside and Greater Durban.
According to Keith Chetty, the Chas Everitt International commercial sales and rentals manager in Morningside, Durban Port is a motivating factor for the high demand for warehouses in the city, while the availability of affordable and diverse office spaces is driving the Morningside commercial market.
He says that Durban Port, which is one of the busiest ports in Africa, is currently experiencing an increase in imports which is, in turn, creating a need for more warehouse and distribution space for a greater number of goods.
“And this trend shows no signs of slowing down, so we expect warehouse demand to increase year on year for the foreseeable future.”
Turning the focus to Morningside’s commercial market, Chetty explains that the suburb is a popular office destination because it caters to businesses of various sizes and offers options to suit different budgets.
“In the commercial market, there will always be businesses upscaling or downscaling, and these changes need to be adequately catered for if a suburb is to maintain a successful office node.
“Morningside is just such an area as here you can find offices of various sizes that are suitable for changing property needs.”
Furthermore, he says, quite a number of companies are relocating to Morningside from the Durban CBD because rentals here provide greater value for money.
New properties entering the market
Two new industrial precincts have recently opened, which offer premium warehouse facilities that are secure and conveniently located, says Chetty. These are:
This is located in Glen Anil, north of Durban. It is a planned A-grade site and is close to both the King Shaka International Airport (16 minutes away) and the Durban Port (18 minutes away). The business park is earmarked for large warehouse and logistics facilities, and it is easily accessed via the N2 freeway.
The design of Northfield Business and Logistics Park effortlessly facilitates truck circulation and accessibility, and warehouses offer 12m-15m eave height to allow for racking. Security on the precinct is state-of-the-art, featuring a gatehouse with access control, perimeter fencing and 24-hour monitoring.
This is a prime A-grade facility worth R4bn. JSE-listed Fortress REIT Limited is constructing the precinct in phases and it is expected to be fully complete and operational by 2020. Upon completion, it will contain 358 000sqm of warehousing space as well as large yards and office space.
It is strategically situated in the Durban South Basin, which places it just 11km from the Durban Container Terminal. Features of the Clairwood Logistics Park include 24-hour security, energy efficient lighting, large concrete yards, a large ratio of access doors, central pumps and tanks for sprinklers and PV capabilities. The location of the Clairwood Logistics Park provides easy access to the M4 and the N2 for a hassle-free commute to and from work.
It is expected that the Durban Port will continue to drive the industrial market in the Greater Durban area, while Morningside’s office market will continue to attract new interest due to its affordability. To find out more about the commercial and industrial properties listed with Chas Everitt International, speak to our helpful agents today.
Author: Chas Everitt International Property Group