Tony Galetti of Galetti Knight Frank property brokers explains what a parking ratio is in the context of the commercial property market and whether parking is included in the price of your rental.
The parking ratio is the number of parking bays allocated to a certain portion of a building. If, for example, you were to lease 100 square metres of office space, you would typically be assigned between 2 and 4 parking bays, with 4 parking bays being the norm in modern buildings. Older buildings naturally have lower parking ratios, with some even going as low as 1 bay per 100 square metres.
It is important to consider the density of your office space and the availability of parking bays in the building, as this could effect your business. Legal firms would generally require high parking ratios due to the nature of their business, while the opposite is true of call centres operating over the same size space.
One should also consider the cost of parking. In the Cape Town CBD, parking bays tend to cost anything from R1 000 per month upwards, while a parking bay in Sandton will cost R550 per month at least. This is an extra cost on top of your rental, so it is important to judge what your parking requirement is and whether it is affordable for your company.
Galetti Knight Frank is one of South Africa’s largest commercial property brokerages, with offices in the Gauteng province, Cape Town, KwaZulu-Natal and the Eastern Cape.