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Johannesburg Retail Market Outlook Q4 2015
Rising inflation with the notable depreciation of the Rand is a concern for retail margins in 2016. The weakening of the Rand also illustrates the reducing confidence in the South African economy with the sovereign credit rating at risk. As a result, cap rates could see retail property values declining in the year ahead. Successful retailers are those who recognise the growing price sensitivity of the South African consumer given the current economic climate, providing some opportunities on the demand side of retail accommodation. Vacancies in Johannesburg’s retail accommodation remain low, providing confidence for developers.
Johannesburg Office Market Outlook Q4 2015
2015 has seen the highest development pipeline recorded according to SAPOA, with exciting flagship developments scheduled for completion within the next two years. Although rental rates have largely remained unchanged during 2015 in most parts of the city, Grade P office accommodation has shown substantial rental growth in the past five years, indicative of a healthy market despite the current economic climate.
Average vacancy rates have seen a slight increase from 11.3% in Q3 2015 to 11.8% in Q4 2015, mainly driven by vacancies in Grade A office accommodation. In contrast, Grade P vacancies remain below 5.0%, while Grade B accommodation has seen growing take-up in selected nodes.
Johannesburg Industrial Market Outlook Q4 2015
The vacancy rate in Johannesburg’s industrial accommodation declined to 8.3% in Q4 2015 from 9.9% in Q3 2015. Compared to 2014, rental rates declined by an average of 4.2% in the Johannesburg market. Low demand has created favourable conditions for tenants. Weak global demand remains an obstacle to export activity while the depreciation of the Rand is likely to contribute to a decline in imported goods. Together, these point to weaker demand for industrial accommodation in the year ahead.
Cape Town Office Market Outlook Q4 2015
Demand in office accommodation showed improvement in Cape Town during Q4 2015, providing a positive start to 2016. The overall Cape Town office vacancy rate declined to 7.2% in Q4 2015 from 9.0% in Q3 2015. The presence of major financial institutions continues to establish a financial district in the northern CBD/ Foreshore attracting both local and international tenants who are increasingly viewing Cape as a strategic location.
JLL voted World’s Best Property Consultancy at the International Property Awards Grand Final 2015
Also received the ‘Best in Asia Pacific’ award in the regional category
JLL has been voted ‘World’s Best’ in the Property Consultancy category at the International Property Awards Grand Final 2015.
These awards are judged by an independent panel of 70 industry experts who focus on quality of service and dedication to the industry. JLL in Asia Pacific also earned the title of ‘Best in Asia Pacific’ in the regional category for Property Consultancy.
“It’s a pleasure to start the year off with recognition of JLL’s ability to create enduring value and excellent service for our clients,” said Christian Ulbrich, CEO for the EMEA region at JLL. “It is an acknowledgement of the outstanding work and talent of our employees around the world.”
JLL reports record results for fourth quarter and full-year 2015
JLL’s full-year 2015 results reflect broad-based revenue and margin expansion across all geographic segments and LaSalle with gross revenue up 18% to $6.0 billion and fee revenue up 17% to $5.2 billion.
What does your workplace say about your company culture?
The future of the workplace is changing – in this paper, JLL studies the importance of ‘workplace expression’ as a crucial tool that improves employee engagement and motivation.
JLL acquires Trussard Property Consultants to drive further growth in South Africa
JLL has acquired Trussard Property Consultants, a leading local real estate leasing and investment agency business, based in Johannesburg. The addition of Trussard will further accelerate the strong growth momentum in JLL’s South Africa business.
Nodes that revolutionised cities: case study of Waterfall Business Estate
With the addition of a new node to Johannesburg, the positive and negative factors that Waterfall Business Estate has contributed to the city since its introduction, and the influence it may have in the future, are explored.
Real insights from Real Views
Get a fresh perspective on how real estate is impacting the wider world from Real Views by JLL. Real Views keeps you up-to-date with all the latest global trends and hot topics in the world of real estate.
On investing in REITs - drivers of capital gains vs drivers of profitability
An analysis of South African REITs performance, firstly from a capital gains perspective, and secondly, from a profitability perspective. The analysis is aimed at outlining the investment value of the REITs as well as their long term potential in the current climate. We also take a look at the characteristics which produce the best and worst performance in the local REITs that can inform investors when making a selection against the listed property trusts in the economy.
2015 Most Admired Company
FORTUNE magazine recognised JLL’s global competitiveness, superior client-focused workforce and financial soundness on its Most Admired Companies list.
JLL earns seventh straight Global Outsourcing 100® designation
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