‘Chic and hip’, mixed-use suburb in high demand
“Following its inclusion in the Gautrain route and a surge in infrastructure upgrades in the area, Rosebank has undergone a total metamorphosis in recent times. The area, which is a favourite among Johannesburg residents for its vibrant commercial and entertainment hub, is becoming one of Johannesburg’s fastest growing development nodes,” says Peet Strauss, Pam Golding Properties (PGP) Hyde Park developments manager.
Strauss notes that the growing demand in and around Rosebank is largely attributable to the changed image of the area. “With corporates such as Standard Bank increasingly investing in the precinct and upgrades to area landmarks such as the Rosebank Mall, The Zone and Netcare Rosebank Hospital, perceptions have changed radically. So much so, that Rosebank is becoming one of Johannesburg’s most desirable areas.”
“The Gautrain has, without doubt, boosted development in the area with Rosebank now perfectly positioned as a mixed-use, ‘chic and hip’ suburb. Tree-lined and vibrant with a rich, cosmopolitan culture, the precinct is pedestrian-friendly while designed to maximise access to public transport. Rosebank has become increasingly popular among the younger set for its inner-city lifestyle. This newfound appeal has literally resulted in the creation of a new market segment,” adds Strauss.
In addition, the close proximity of Rosebank to Johannesburg and Sandton has long been an important selling point. OR Tambo International is only 35 minutes away by road and is also easily accessed via the Gautrain, as is Pretoria. Excellent schools including St Theresa’s Convent, Kingsmead and Rosebank Primary and ample shopping and entertainment offered by Rosebank Mall and the Zone, completes the picture of a vibrant, fast-paced environment.
“Commercial property development has been particularly buoyant following the opening of the Gautrain Station in 2011, with close on R7 billion being spent on the development of new buildings and the refurbishment of several existing buildings. The residential property market however has been more subdued because of the shortage of available land for development in Rosebank. This has created a considerable demand for residential property in the area,” says Victoria Russell, PGP development specialist.
“For the first time in many years a few exclusive, new residential developments are starting to come onto the market. One such luxurious development is The Caversham, which consists of 13 two and three-bedroomed apartments on Sturdee Avenue. This brand new development is being launched on 30 March 2014,” adds Russell.
According to Russell, the launch of The Caversham and Forty4 on Keyes is an important turning point for Rosebank’s residential property market.
The apartments at The Caversham range from R2.8 million for a 126 sqm unit to R3.95 million for a larger 154 sqm unit. The pièce de résistance is the 216 sqm penthouse apartment, which is on sale for around R5.9 million.
According to Russell the units are ultra-modern, featuring the latest in contemporary design, quality finishes and secure basement parking. The Caversham would suit discerning couples or busy executives seeking the ultimate in convenience and stylish living.
“The Caversham is situated in the heart of Rosebank close to all amenities including the Gautrain, Rosebank Mall and transport links. Most apartments have their own patio as well as a garden or deck,” says Russell.
Forty4 on Keyes comprises 16 chic two-bedroom simplex and duplex apartments. These ultra modern yet stylistically and aesthetically appealing apartments are being marketed from R2.95 million to R3.7 million by PGP. Secure basement parking and quality finishes complete the picture of a highly sought-after development.
“Rosebank is really coming into its own, with many up-and-coming young professionals and families purchasing properties in the suburb,” points out Jonathan Davies, Pam Golding Properties (PGP) joint area manager, Hyde Park office. “It is cosmopolitan and vibrant, and the area is enjoying an absolute resurgence. For those who want to be close to where the action is, Rosebank is the place to be.”