Centralised Living: A growing future trend

According to Astrino Nicoloudakis, Chief Investment Officer of property development company Acsion Ltd, centralized living has grown more appealing as cities become more crowded for South Africans.

Centralized living is the practice of having a concentration of people, goods, and services in one single region, usually in an urban or suburban context. This trend appeals to those who want to simplify their lives since it offers an uninterrupted lifestyle with access to amenities, services, and technology, according to Nicoloudakis.

A centralized location provides quick access to essential services like utilities and transportation, eliminating the need for a lengthy trip. The CIO claims that because travel expenses are lower, this results in time and financial savings. According to Nicoloudakis, mixed-use complexes are a fantastic opportunity to enjoy centralized living in luxury.

Mixed-use buildings give a one-stop shop for all the services and amenities that could be necessary. Amenities like gyms and spas, as well as stores and restaurants, are included in these structures.

Cost reductions are one of the main benefits of centralized living. Residents can save money when using services and holding meetings inside the facility thanks to lower transportation costs brought on by the decrease in fuel use.

The variety of meeting spaces available, such as hotel-standard conference rooms for professional and corporate clients, co-working pods and hot desks for venture capitalists, reception lounges and office pause areas for informal dealmaking, and neutral meeting areas contributed to the cutting of costs.

Sandton is a great example of a potentially prime centralised living hub given its infrastructure and use of existing public transport. Buildings of multiple-use like office/apartment blocks prioritise safety, making it more appealing to residents in terms of the lock-up-and-go lifestyle.

Due to rising fees needed to maintain the standard of life and round-the-clock security, estate living is not suited for most people in terms of safety.

Costs are controlled in a high-rise mixed-use building since technology is used heavily and fewer security guards are needed. Even while the initial cost of constructing a high-rise mixed-use building may be higher, once essential occupancy levels are reached, the tenant benefits from the savings and efficiency across the uses and services.

A perfect home base for those who operate remotely or on the go is a mixed-use building. According to the CIO, load shedding and the looming "water shedding" have also brought attention to the necessity of centralized living, which is why more landlords and developers are creating buildings that take these services off the grid and provide uninterrupted delivery to tenants and visitors in an effort to combat failed municipal service delivery.

Luxuries like climate-controlled air conditioning, however, are energy-intensive and challenging to offer during load shedding, so the potential challenge of finding a cost-effective solution for both the property developer and tenants remains.