Midrand's Waterfall Development
Category Commercial Property News
The Midrand continues to become a leading location for development within the commercial and residential market with the Waterfall estate. The land has an illustrious and unique history towards the development of South Africa and was first obtained by the Gibson Brothers many years ago and from its inception, it was used mainly for farming purposes. The two brothers also ran a stagecoach route that ran from Pretoria and Johannesburg. However, by 1934 the farm was sold to Moosa Ismail Mia who decided that the property would be better suited as a site for religious purposes as well as it being the location of an orphanage and school or training facility for both underprivileged black and Indian children.
The purposes of the land would however drastically change, and as the years went by it would later be expropriated by the government and used by Eskom as a Megawatt Park. Today it's the location for what could be the largest mixed-use development in South African history.
“As a result, today, Waterfall has emerged as the largest property development in South African history, combining between 12 000 – 19 000 residential units, which will eventually house an estimated 48 000 -76 000 people, as well as accommodate commercial and office space that will accommodate a further 75 000 people”. -http://waterfall-estate.co.za/about-waterfall/
Leading property brokerage OfficePlace also has a vested interest in the Midrand area. The company has 69 listed properties available for rental in this prime location. The ideally located urban expanse is popular because of its proximity to both the central business districts of Johannesburg and Pretoria, hence its aptly given name Midrand, it's also noted as being one of the most connected locations for roadways and major highways throughout the whole of the Gauteng area. In terms of the history, the area is fairly new, however, its key location has enabled it to become one of the most highly regarded commercial and business nodes in the entire Gauteng Province.
“The Waterfall development is more than just commercial or residential space but hopes to be seen as its own new city within a city and R16bn has been allocated to this exciting development. From the busy N1 between Johannesburg and Pretoria, the Waterfall development looks like nothing more than a string of cranes perched on the horizon and towering over mounds of dirt. But a swift left off the highway and on to Allandale Road reveals the start of a whole new city. At a time when the national economy is teetering on the brink of a recession, this pocket of land in the centre of Gauteng is home to the largest mixed-use property development South Africa has ever seen – and is worth R16-billion”. -Lisa Steyn (mg.co.za)
This is a clear indication that although South Africa’s economic situation might be receding there is still ample investment in so many of the financial nodes around the greater Gauteng expanse. This has enabled the entire region to grow and expand hence the popularity of the area is seen to be a huge reason for further growth even when other parts of the country might not be experiencing similar trends. This is what set Midrand apart and what has made it desirable for the commercial property market.
The Midrand area continues to become more and more of a viable option when it comes to commercial development and office locations. This is why leading office brokers OfficePlace has such a vested interest in this well situated and highly credible location for commercial and residential purposes. Why not get in contact with one of their highly skilled and dedicated brokers today and start your next office headquarters out of Midrand.
Author: OfficePlace Commercial Property Brokerage
