Rode Media

Category Office

R90 million deal shows growing investor appetite for Joburg’s office-to-residential conversions

Parktown North

Galetti Corporate Real Estate has brokered a R90 million deal in Parktown North, Johannesburg, converting a landmark office block into affordable residential apartments. This reflects a broader trend of office-to-residential conversions in high-demand areas like Rosebank, driven by strong demand for affordable urban living and underutilised office stock. With Johannesburg’s housing need rising—especially among young professionals and students—these conversions offer investors value and flexibility, reshaping the city’s property landscape for sustainable, integrated urban growth.

2025: A pivotal year for South Africa’s office real estate dynamics

South Africa’s office real estate market is poised for a transformative year in 2025, with Cushman & Wakefield | BROLL predicting that it will mark the end of a lengthy ‘tenant-market’ cycle and as property demand-supply dynamics are shifting in favour of landlords. In the year ahead, the property solutions leader expects more office real estate deals to flow, increased office space take-up and rental growth driven by solidified hybrid work policies, an evolution in tenant-controlled office designs, and even the re-emergence of new development in some locations.

The selling of Portside Tower

Accelerate Property Fund (APF) is taking significant steps to manage its financial position by offloading some substantial properties. Selling these assets, especially notable ones like Portside Tower seems like a strategic move to reduce their debt burden, which is quite large at R3.7 billion.

Adapting office environments for a thriving hybrid workforce

In the evolving South African built environment, the debate on the future of office spaces is intensifying, particularly in light of a growing number of South African companies requiring their workforce to either return to the office or be in the office for a minimum of three days a week. This local hybrid trend echoes a global shift to a hybrid work model, spotlighting the need to adapt office spaces to these new working patterns.

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