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Launch of Rosebank’s first modern executive apartments a success

The recent pre-launch of The Vantage, a prestigious new apartment development by Renprop, through their development division, SPACE Developments, together with its development partners, Grapnel Property Group, was met with an overwhelming response from buyers and investors, resulting in 118 apartments being sold on the evening and the fact that, as of 3 February, there are only seven apartments available for sale.


The Vantage Aerial 3D perspective
 
The exclusive pre-launch function, which was held on 30 January 2014 at The Crown Plaza, Rosebank, saw more than 500 prospective buyers and investors in attendance. They were given the opportunity to closely examine the selection of floor plans as well as a model of the planned apartment block.
 
To be situated on the corner of Bath and Tyrwhitt Avenues in the heart of Rosebank, the 10-storey development will be home to around 165 executive apartments that will be available in variety of configurations from one-bedroom, one-bathroom units to three-bedroom, two-bathroom apartments that also include a study and luxury penthouses with a floor space in excess of 150m2. All apartments will include guest bathrooms and basement parking. Apartments at The Vantage will include upmarket finishes and will range in size from approximately 50m2 to 200m2. The units are priced from R 1,35 million and a R50 000 deposit secures a unit.
 
Russel Peach, Divisional Manager of Renprop Residential, attributes the success of The Vantage to its prime positioning. “The development is located 450m from the Rosebank Gautrain station and 200m from a variety of shopping malls and entertainment facilities, all accessible along tree-lined pedestrian walkways. In addition, The Vantage is well located within easy reach of Johannesburg’s major road network, and is well positioned in between the Johannesburg and Sandton CBDs. The area is also home to some excellent schools and medical facilities.”
 
Peach also points out that aside from its excellent and convenient location, The Vantage will benefit from the fact that Rosebank has been identified as one of the 35 priority development areas in greater Johannesburg with a focus to be placed on improving service delivery and infrastructure.
 
Furthermore, he says that the pent-up demand for residential property in the area has been proven with the buyer response received for The Vantage. “The lack of land available for development along with the cost of land in the area has not made residential development a viable option – up until now that is. Renprop, through their development division, SPACE Developments, together with its development partners, Grapnel Property Group, identified the gap to satisfy this demand for modern residential accommodation and managed to secure a good site for a residential development after much negotiation. This means that the apartments are well priced for the area and that buyers are therefore bound to make solid returns on this investment in the years to come – especially if a long-term view is taken.”
 
Apartments at The Vantage are ideally suited to upwardly mobile executives who are looking to live closer to their place of work due to the increasing travel costs, as well as investors or corporates who require accommodation for visiting executives.

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