More development in store for Rivonia during 2015

Rivonia was proclaimed as a township 1903, and by 1947 it is said that land in Rivonia was selling between 1 000 - 1 200 pounds sterling an acre. Property in the area has changed dramatically since those early days of large plots and farms. Today Rivonia is made up of 49% sectional title properties, 26% freehold homes and 24% residential estates.

Considered to be one of the most affluent residential and suburbs in Johannesburg, the average price for a sectional title property in Rivonia currently sits at around R2.5 million, with more than 45% of recent buyers aged between 18 and 35 years old, according to Lightstone statistics.

Chris Renecle, MD of Renprop, says that there has been unprecedented demand for property in Rivonia during 2014, and he expects the demand for property here to remain strong in the year ahead. Renecle attributes the demand to the positioning of Rivonia - close to the Sandton CBD, major highways and public transport infrastructure such as the Gautrain, as well as other amenities including shopping centres and schools.

There have also been some upgrades in the general Rivonia area of late, including the Rivonia Boulevard shopping precinct, which has had a positive effect on the area.

Renecle points to Renprop’s developments, The Link and The Cube, as a clear indication of the level of demand in the area. These developments, which together comprise 440 sectional title units, have been sold out. Renprop then launched The Coutryards in mid-2014, which will be commencing with construction in January 2015. Here more than 50% of the units in phase one and two have been sold. The Courtyards will consist of 176 sectional title units in total, which will be developed in three phases.

Renecle says that over the last three years, a new node has been created on the western side of Rivonia Road, which seems to be a lot more popular among buyers. “Its positioning within the inner circle of the N1 Western Bypass is one of the main factors contributing to this node’s popularity,” says Renecle. Renprop has acquired more land in this new node which will accommodate a further 800 sectional title units.

Renecle says that there is also pent up demand for rental units in the area, which is why Renprop will be launching a purely rental sectional title scheme in the area in the year ahead. Consisting of 160 units, this new development will be situated next to The Link on 11th Avenue, just off Rivonia Road. To be called The Prism, this development will consist of upper end units ranging in size from around 50m2 – 80m2. Monthly rentals are expected to sit in the R8 000 – R12 000 range.

“Rivonia is set to become northern Johannesburg’s new high density node, as the western side of this suburb has been earmarked for high density development, according to the area’s Regional Spatial Development Framework,” says Renecle, who expects Rivonia to become much like the northern Johannesburg suburb of Lonehill. “Between ourselves and another developer, we will create around 2 500 sectional title units in the area over the next few years,” Renecle concludes.

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