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Renprop to launch second development in Rosebank

March 2015 will see the launch of Renprop’s second apartment development in Rosebank, named The Tyrwhitt, on the back of the success of The Vantage - a 10-storey apartment block situated on the corner of Bath and Tyrwhitt Avenues, which launched a year ago and is currently under construction.


Artist Impression of The Tyrwhitt
 
It is anticipated that construction of The Tyrwhitt will start mid 2015, with an estimated completion date of June 2017.
 
The Tyrwhitt, which is being launched by Renprop in conjunction with its development partner, Grapnel Property Group, will account for 200 of the more than 1 000 apartments that Renprop MD, Chris Renecle, expects will be required to satisfy demand in the area in the foreseeable future.
 
Russel Peach, Divisional Manager of Renprop Residential Projects, says that the 200 apartments at The Tyrwhitt will be housed in a 14-storey apartment building, and will be slightly larger than those at The Vantage, ranging in size from approximately 70m2 to more than 110m2. The penthouses will measure between 180m2 and 400m2.
 
“The Tyrwhitt will offer buyers a mixture of configurations from one-bedroom, one-bathroom units to four-bedroom, three-bathroom penthouses,” he says.  “Prices will start at R1.8million and will reach close to R10million for the bigger penthouses.” Amenities at The Tyrwhitt will include a coffee shop and concierge.
 
Designed by GLH Architects, the same architecture firm that designed the new Standard Bank building in Rosebank and numerous other successful residential and office developments in greater Johannesburg, The Tyrwhitt will incorporate clean lines and a modern feel.
 
Renecle says that the level of demand Renprop experienced for The Vantage provided solid proof that there is an exceptionally strong need for residential accommodation in Rosebank.
 
With its excellent access to public transport, notably the Gautrain which is located less than 500metres from The Tyrwhitt, and a range of amenities including the newly upgraded and extended Mall of Rosebank as well as easy access to major road networks, Rosebank has seen a spate of commercial development in recent years and has been declared as one of the 35 priority areas in greater Johannesburg with a focus to be placed on improving service delivery and infrastructure.
 
“Along with the increase in commercial development, which we expect to continue over the next five years, there is an even stronger demand for residential space in Rosebank,” says Renecle, who notes that many of the older apartment buildings in the area have not been well maintained.
 
“There is considerable pent-up demand from people working in the Rosebank area who want to live there too, as well as from investors - many of whom live in The Parks areas and other older suburbs south of northern Johannesburg ..”
 
The Vantage was fully subscribed at the launch function and Renecle expects The Tyrwhitt will be met with similar enthusiasm from buyers. “We expect the buyers to predominantly be executives who work in the area, commuter executives and those who only live in South Africa for a couple of months a year.”
 
All of the development rights for The Tyrwhitt are in place, and Renprop is in the process of securing rights for a further two apartment building developments in the Rosebank area, which are in the early planning stages. Renecle expects these apartment buildings to be launched later in the year.


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