Sandton is not in trouble, says Redefine, as premium offices start filling up

"Everyone's always been telling us that Sandton is in trouble. And I'd like to dispute the fact," said Redefine's national asset manager for the office portfolio, Pieter Strydom.

In fact, vacancies at Redefine's premium-grade office buildings now sit at only 5.5%. In Alice Lane, the street that houses financial giants like Sanlam and Santam, Redefine's office park is less than 4% empty.

This follows concerns about Sandton, which was hit especially hard by the work-from-home trend during the Covid-19 pandemic. Growthpoint Properties recently reported that its central Sandton offices are approximately 30% empty.