select
|

The redevelopment of Rosebank continues to attract investors

Over the past two years, the business hub of Rosebank has seen significant redevelopment of both commercial and residential property after The Rosebank Management District uplifted the area considerably. 

Chris Renecle, MD of Renprop, says that the cleanup of the area and subsequent upsurge in redevelopment projects has once again made Rosebank a desirable and profitable investment option for those looking to expand their property portfolio.

He notes that The Zone shopping centre upgrade, the redevelopment of The Firs and the extension of The Mall of Rosebank are all recent redevelopment projects that have been undertaken in the area. “The new Standard Bank office is another development project contributing to the more than R7-billion that has been invested in the area’s redevelopment in recent years. The development of the Gautrain station has also put Rosebank back on the map as a business and entertainment hub,” says Renecle.

Currently The Mews and Baker Square are being renovated and redevelopment in Rosebank continues with The Galleria also in line for refurbishment in the near future. All of the available retail space is currently occupied.

Renecle notes that aside from the Gautrain, the planned dedicated cycle lane between Sandton and Rosebank will further add to its accessibility and appeal. He explains that the cycle lane is an initiative between The City of Johannesburg and the Sandton Central Management District, who have developed a Sandton Transport Master Plan to address the increasing traffic issues in the Sandton CBD.  “This means a focus on long-term changes to transport patterns in Sandton with a dominant focus on efficient public transport, bicycle lanes and pedestrian activities. The City of Joburg website indicates that dedicated cycle lanes will be provided along Maude, West and Alice Streets and cyclists will, in future be able to ride from Rosebank to Sandton on this network.”

Renecle says that in response to the commercial development and the resulting demand for executive accommodation, Renprop has created a number of opportunities for investors looking to capitalise on Rosebank’s popularity and investment potential. Its first residential development in the area, The Vantage, sold out fast and provided investors with an average appreciation of more than 25% on their units during the construction phase.

On the back of this success, and to cater to the continued demand for upmarket apartments in the area, Renprop, in conjunction with its development partner, Grapnel Property Group, launched The Tyrwhitt, which is situated on the corner of Bath and Tyrwhitt Avenues. The 200-apartment Tyrwhitt is currently under construction, and will offer a variety of configurations including one- and two-bedroom apartments spread over 12-stories. Renecle says there are a few units still available to investors who want to secure an executive apartment in the heart of Rosebank.

Also well located opposite The Zone @ Rosebank shopping complex is Renprop’s latest residential development offering in Rosebank called The Median. This apartment block will offer 14 floors of one-, two- and three-bedroom apartments as well as a selection of penthouses. Ranging in size from 50m2 apartments to 160m2 penthouses, units at The Median will have a Mondrian interior design style. Residents will also have access to basement parking. At street level, The Median will showcase a number of shop fronts including a trendy coffee shop that will open onto the pedestrian walkway on Cradock Avenue.

Renecle concludes by saying that residents at both The Tyrwhitt and The Median will benefit from easy access to wide range of amenities as well as the Gautrain Station.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 21 Nov 2017
      The buying process is over, and the moving truck has delivered your household goods to your new property. Now it’s time to unpack and turn your new house into a home.
    • 21 Nov 2017
      When an offer to purchase a property is signed by both buyer and seller, this constitutes a binding agreement or “Deed of Sale” between the two parties. However, in most cases the “standard contract” might not be enough to cover all the specifics pertaining to the sale. The agreement may require some additions or alterations to clauses, which needs an expert hand in the drafting of such
    • 21 Nov 2017
      As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Nov 2017
      Property valued at approximately R1 billion is on High Street Auctions’ sales floor during the month of November, including the much-anticipated sale of the Tshwane Mayoral Residence and the land occupied by one of South Africa’s oldest operating gold mines.
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK