South Africa's biggest listed landlord, Growthpoint Properties says its offices in Sandton Central are now 30% empty. The company hosted an investors' call on Wednesday where it broke down how Sandton contributed to the 22.4% office sector vacancies in its portfolio.
In June 2021, Growthpoint's office vacancies sat at 19.9%. Back then, the company had a more positive outlook, saying that many of its tenants were keen to return to the office. Sandton's office vacancies sat at 25% then. Fast forward to the end of March 2022, it's looking gloomier.
READ | Office vacancies increase as work-from-home uncertainty continues, says Growthpoint