Throughout South African more and more commercial spaces are being converted into affordable and high-end residential developments, and here's why.
According to numerous sources such as SA Property Insider, converting office spaces into residential apartments has become a profitable trend over recent years and seems to be growing steady. Research shows that more of the younger working class desire being closer to their working environment. Another factor that has increased the growth of these conversions is the drop in the existing supply of affordable rentals in the CBD.
That’s why the trend hasn’t slowed down in recent times, more and more conversions are being made due to the financial success of these developments as opposed to existing vacant office spaces. A beautiful example of an Office conversion can be seen in Cape Town known as ‘The Ports Edge Apartments’ which was an office space converted and redesigned by Hub Architects to become a successful residential development.
Ports Edge Apartments can be found at Victoria & Alfred Waterfront and was completed in 2014. The building was originally design as office space before the conversion of the 6385 m² floor area into 109 elegant apartments with wonderful views of Table Mountain and the waterfront.
However converting old office buildings is not always a simple and straightforward job and may require innovative ideas and solutions to avoid issues like very little natural light, natural ventilation, orientation, or the building has a structural floor plan which may require extensive renovations and building work to create a livable space. That is why it is crucial to have a professional architect team that can take these implications and restrictions into consideration and provide the client with an economical and profitable conversion.
Johannesburg is one of the many cities in South Africa with available vacant and abandoned buildings waiting to be converted into a buzzing residential development. Due to the ever growing housing market and demand for affordable apartments in the city, the Johannesburg region could not be a better opportunity for conversions in the modern times.
Contact Hub Architects today to begin your conversion of a office space into a residential investment.
Comentários