Thursday, February 7, 2013

Design concepts drive sales in commercial properties,


  Real estate agent HassConsult has unveiled details showing a shift in location and style of commercial properties in Nairobi driven by buyers' appetite for more space and latest technology, which is seeing developers move from the congested city centre to establish offices in suburbs reaping yields of up to 10 per cent on grade A &B office by applying creativity through modern designs allowing people to work and relax in the same space. “Employers are looking for more than a work space, they need an environment that keeps their staff motivated and inspired.” said Ms Hassanali

Her sentiments are supported by 2012 reports from Jones Lang LaSalle which states that in all markets, occupiers prefer creatively-configured spaces and buildings over traditional high-rises, large over small floor plates, open and flexible workspaces that allow for enhanced collaboration over fixed offices and cubes, and proximity to transit and urban amenities.  “These work-environment preferences are resulting in a shortage of creative office space that is stirring activity among developers to build anew and convert existing space to accommodate the need for unique offices that can embody the personality of a company” the financial and professional services firm specialising in real estate reported.

Its based on this premise that developers behind Le' Mac and Watermark Business Park are developing grade A offices to meet the growing demand for office space in Nairobi. The Watermark Business Park was conceptualised, blending the natural environment with office buildings creating an unrivalled work space and making it a natural choice for a variety of users. Watermark's design is pegged on research by the University of Michigan indicating that a green and planted internal environment can increase memory retention by up to 20 per cent, enabling people to perform better and with greater accuracy.

The development located in Karen, one of Nairobi’s most affluent suburbs is built around a 5 acre park with a lily pond surrounded by lush green at the centre appealing to the serene environment seeker. The office courts are skilful designed to create a flexible module offering suites from 2,500 sq.ft. to 26,500 sq.ft. on either ground or upper floor. The developers chose to incorporate the outdoors into the design of the offices, in addition to putting in place environmental efficiencies and positive climatic condition.

The same applies to Le' Mac building a 22 storey highrise -comprising of business space on the ground floor that includes a banking hall and commercial office space on first six floors currently under construction along Church Road, Westlands. The building is designed to appeal to the futuristic person –who wants all the bells and whistles in modern house design, enjoying beautiful paranoiac views of the city, as well as a sense of space and light. “The Kenyan real estate market is rapidly growing, and is getting to a point where there is a growing demand for what can only be described as a wholly higher level of design and delivery,” Ravi Vashta, Managing Director Mark Properties.

“The Le' Mac office space is an embodiment of what companies are looking for large open land offices with ample and secure parking, fibre optic Internet, biometric entry system. The restaurant, gym, swimming pool and spa within the building provides a perfect environment to relax after a long day at work.” said Mr. Vashta. This shift in design is giving developers leeway to weather increased competition, at a time when reports indicate possibility of supply outstripping demand in both for-let and for-sale office space in Kenya's capital.

“With recent reports of over 15million square feet of office space available for uptake in Nairobi and over 2 million square feet of office space under construction, fears of market saturation is making new developers to include features like manicured lawns, lush green grass, swimming pools that are characteristics of a modern office outdoor environment to promote their sales,” said Sakina Hassanali, Marketing Manager at Hass Consult. This is unlike Tanzania where developer efforts to the increasing number of office developments in the market most buildings in the pipeline fall short of major tenants’ requirements particularly parking space according to 2012 Knight Frank Tanzania country report.

Established in 1991, HassConsult is a property development and sales agency, that works with clients in the development process and provide the crucial link between the developer and the target market, providing a complete package to the client.

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