Commercial Property News South Africa

Kloof, Hillcrest show significant investment

The Durban areas of Kloof and Hillcrest are showing business and residential growth, with a new business corridor opening along Old Main Road, retirement villages, a new private hospital, the Inchanga Hotel being redeveloped into a psychiatric treatment centre and a new shopping centre planned for Assagay, on the fringes of Hillcrest, in 2016.

"The highway area just north-west of Durban - incorporating these areas, is rapidly becoming a key hub," says Alwina Muggeridge, Pam Golding Properties' area principal. "In controlling the rapid development in the area, the introduction of D'Moss (Durban Metropolitan Open Space System) has resulted in less land being available for the construction of homes.

"Time has definitely caught up with the upper highway area, with Old Main Road, Inanda Road, Shongweni and Hospital Roads having been upgraded to improve the traffic flow. However the need for increased investment in infrastructure ie roads, power supply and sewerage, presents a long term challenge coupled with an associated increase in rates, which will place a burden on home owners in this sought after area."

Elevated some 650m above sea level and 30km from Durban's beaches, the upper highway continues to attract a diverse community. "Burgeoning commercial and retail growth has stimulated the demand for homes, as people are able to work closer to home. Ultimately, this will have a positive impact on property values. Buyers drawn here are mainly aged 30-45 years with families, due to the many good schools in the area, spacious homes and large erven, which in Hillcrest and Kloof are a minimum of 1800 sqm."

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