Durban's Northern Suburb Industrial Rental Comparison
Category News and Advice
How do you think these rentals will be affected post pandemic?
I decided to study the rental rates of properties currently being advertised. The landlords have mandated us to market their properties at these rentals.
The X-axis represents the different suburbs in the northern parts of Durban.
The Y-axis represents the lowest and the highest rate per square meter in the respective areas.
Findings:
- Rentals increase as we move further north
- Glen Anil, Red Hill and Mount Edgecombe hold the same value
- Riverhorse Valley and Cornubia are the more expensive areas
Opinion of findings:
- Tenants in the northern suburbs of Durban are not concerned with being close to the harbour, thus moving further north past the Umgeni River is not a deterrent
- Glen Anil, Red Hill and Mount Edgecombe have same rentals and compete for similar tenants
- Riverhorse Valley and Cornubia are new areas with a rich corporate feel. Security is of the highest quality and buildings/industrial parks are built with efficiency in mind.
There is a noticeable amount of vacancies coming onto the market and I expect it to increase over the next few months, which should drive rentals downwards.
Author: Loy de Jager
