According to property experts the proposed tolling is coupled with reported additional taxes for properties situated along public infrastructure corridors such as the Gautrain, a factor that will place increased pressure on consumers, affecting the retail and industrial markets.
Transport issues are also increasingly affecting the commercial property market with regard to choice of location, with the Gautrain stations a key positive factor.
The opening of Gautrain routes as well as the implementation of the bus rapid transit routes has increased demand for properties close to those routes. The opening of the Sandton Gautrain station has opened up the Sandton retail precinct to a wider consumer market to the north, which now has easier access.
A new trend in the marketplace is that due to the lack of new stock coming on to the market, older buildings are in demand and can be acquired at competitive prices.
In addition, landlords driven by the need to fill vacant space are prepared to accept lower initial rentals. However, in such instances escalations tend to be higher than in the last few years.
Source: Business Live (amended)
