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Rosebank’s Tyrwhitt redesigned in line with demand

Apartments at The Tyrwhitt, to be situated on the corner of Bath and Tyrwhitt Avenues in the heart of Rosebank, have been redesigned to accommodate the demand for smaller, better priced units.


 
Chris Renecle, MD of Renprop who, together with its development partner, Grapnel Property Group, is developing The Tyrwhitt, says that after the initial launch in March this year, feedback from the market indicated that a slight design tweak was required. “Renprop took its customer feedback to heart, and will now be re-launching The Tyrwhitt apartment development on Thursday 6 August at 54 On Bath, Rosebank”
 
The 200-apartment Tyrwhitt is spread over 12-stories and will include a variety of configurations including one- and two-bedroom apartments. GLH Architects have redesigned 160 of the 200 units to include more two-bedroom, one-bathroom configurations in line with the demand for these types of apartments. Apartments at The Tyrwhitt will be available from R1.6million.

 
Renecle explains that the decision to embark on another residential apartment development in Rosebank was based on the success of The Vantage - a 10-storey apartment development housing 165 executive apartments. He believes The Vantage, which is now completely sold out, sold out so quickly due to the pent-up demand for modern residential apartments in the area.
 
“The strong demand for residential space in the Rosebank precinct has continued unabated, and added to this, we know that investors in The Tyrwhitt can expect to achieve fantastic capital growth based on the success of The Vantage.”
 
The Vantage, which was fully subscribed at the launch function, is currently under construction, with five of the 10 stories complete. “Even though completion of the development is still a couple of months away, investors who purchased these units off-plan at the launch have seen strong capital growth. Launched last year at R29 000/m2, units within The Vantage that have come back onto the market are now selling for more than R35 000/m2.  Property prices in Rosebank are increasing due to the lack of available land for development, so those investors who get in early and buy off plan will benefit from the upward price trend,” says Renecle.


 
The demand for residential space in Rosebank has been fuelled by the ongoing commercial development in the area, coupled with upgrades of various buildings including the newly upgraded and extended Mall of Rosebank. “The Rosebank precinct offers its residents a village-like feel with tree-lined streets, some of which have been turned into pedestrian walkways,” says Renecle, who believes that this has significantly added to the area’s appeal.
 
The Tyrwhitt residents will benefit from the area’s excellent access to public transport, most notably the Gautrain which is just 500m away, as well as easy access to major road networks that the area enjoys. A number of amenities such as schools, shops, restaurants and medical facilities, are also all within walking distance of The Tyrwhitt.
 
Renecle believes that investors who are interested in purchasing in the Rosebank precinct shouldn’t wait to long, as land prices are increasing as a number of developments are launching in the area. “Currently Rosebank apartments are selling between R33 000 and R37 000/square metre,” he says.  Renecle foresees the demand for residential apartments in this precinct continuing for some to come.


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