Three Success Factors that made Sandton a Commercial Powerhouse
Category Commercial News
The continent’s richest square mile, Sandton, has retained the title of Africa’s most important financial and business hub since democracy in 1994. This Johannesburg suburb is synonymous for its long list of multinational and blue-chip companies that find common-place here. Rightly labelled as, “SA’s Engine Room”, it is home to the Johannesburg Stock Exchange and well over 10 000 thriving businesses. Due to the insatiable demand for commercial space in the suburb, development is expected to soar over the coming years as more innovative and eco-friendly buildings come to the fore.
The South African Property Owners Association Office (SAPOA) has recently revealed that Sandton currently holds the majority of Gauteng’s development pipeline, with 31% of new office developments planned for the node. This means that just over a quarter of the province’s new commercial stock will be built here.
Sandton’s success is attributed to various factors working together to create a near-perfect commercial market. These include:
1. The Ability to Adapt
Sandton has always responded quickly to changes within society, and this can be seen through its transformation over the decades. Turning back the clock to just over 50 years ago reveals a Sandton defined by sandy horse trails and grassy estates – a place where residents from affluent backgrounds called home. Its first transition took place around the mid-1980’s when the suburb’s commercial market began to take hold as more businesses relocated here for affordable office space. However, it was the dawn of democracy that saw Sandton undergo the most significant change.
When new leadership came into power, the suburb almost immediately embraced globalisation by opening its doors to foreign direct investments. This created an environment for national, international and multinational companies to coexist in an open market. The years that followed rapidly strengthened Sandton’s foundation until it reached its current status as a formidable and ever-expanding commercial destination.
2. A Vibrant Property Market
Sandton is renowned for its modern office spaces that meet international standards. Piercing through its skyline is a diverse selection of P- and A-grade buildings that perfectly accommodate big business requirements. Furthermore, most of Sandton’s iconic buildings are constructed according to environmentally friendly guidelines.
An example of this type of development is Alice Lane situated next to Sandton City. It is comprised of three prominent office towers with state-of-the-art building systems that are linked by a central landscaped piazza. Alice Lane is a 4 Star Green Star building that promotes sustainability and environmentally conscious principles. It is well-suited for established corporate players and innovative new businesses as it provides bespoke features and world-class facilities.
3. Strong Transport Networks
As with all formidable commercial hubs, transport is a vital factor for long-term success. Fortunately, Sandton’s transport infrastructure is one of the best in the country, and it plays a pivotal role in further developing the market. In fact, the suburb is at the helm of implementing new forms of transport, with the most notable being the Gautrain. In June 2010, Sandton became the first node to experience this rapid rail link, which today provides safe, reliable and quick public transport to its workforce.
Sandton’s commercial landscape will transform once again as new developments mushroom throughout. It will be interesting to see how “SA’s Engine Room” rises up to meet modern and innovative expectations. To find out more about the available offices, speak to our helpful agents from 3CUBE Property Solutions today.
Author: 3CUBE Property Solutions
