As South Africa’s pulsating financial capital, Sandton, continues to grow so too does the demand for residential accommodation in its city centre.
“Executives and entrepreneurs from all over the world who work or do business in Sandton want to be within easy reach of the financial heartbeat of Africa, home to the Johannesburg Stock Exchange and an estimated 10 000 businesses and head offices,” says Dr Andrew Golding, chief executive of Pam Golding Property group. “With its skyscrapers, immense office blocks and exclusive boutique and retail component it is not surprising that Sandton is known as ‘Africa’s richest square mile’.”
“The Sandton city centre offers some of the most vibrant and convenient city-living in the world,” adds Dr Golding. “Residential properties, particularly well-positioned apartments which offer good value for money as well as a trendy, urban lifestyle, are quickly snapped up.”
Located within the very heart of this thriving metropolis is the Sandton Eye, a mixed-use development, which includes luxury apartments, offices, retail space and the Radisson Blu Gautrain Hotel. The Sandton Eye residential apartments are being developed atop the five-star hotel and have recently been placed on the market through Pam Golding Properties (PGP). According to Dr Golding, “These offer a once-in-a-lifetime investment opportunity and those executives who seek a fast-paced urban lifestyle with every amenity at hand would be hard pressed to find a more desirable location.”
The Sandton Eye is situated across the road from the Sandton Gautrain station, which offers high-speed rail link with a 20-minute travel time to the OR Tambo International Airport and links to Soweto, Johannesburg and Pretoria. It is also mere minutes from the Johannesburg Stock Exchange (JSE), and the Sandton Convention Centre, one of the largest and best-known centres of its type in Africa. Outstanding shopping and entertainment can be found at nearby centres such as Sandton City while the superb restaurants at Nelson Mandela Square are always popular.
Peet Strauss, development manager at the PGP Hyde Park office, says that the one- and two-bedroom executive apartments are currently being sold off plan and are proving highly sought after. He points out that most of the available apartments have already been sold and he does not think that the remainder, with their magnificent views and ideal position, will remain on the market for long.
“Many of those who have shown an interest in the apartments are professionals who commute,” he adds. “They live in the suburbs or the country, spend their weekdays working in Sandton and then travel home to places such as Hartbeespoort on the weekends. Others work between Sandton and cities like Cape Town and appreciate the fact that they can jet into Johannesburg, catch the Gautrain and arrive literally at their doorstep. The convenience offered to those who need to commute between cities is simply fantastic.”
It is therefore not surprising that some of the apartments are being purchased by corporates for their senior staff members and a number of foreign companies and business people have shown an interest in them. PGP agent, Victoria Russell, says that with the current exchange rate international buyers are well positioned to capitalise on this exceptional development. Some South Africans who live abroad are also appreciating the opportunity offered by these upmarket apartments. A number of purchases have already been made by investors who see an opportunity in the rental market to let to professionals and companies. Adding to the appeal of these properties is that at R17 per sqm, levies are reasonable.
Russell points out that the apartments on sale are on floors 16, 17 and 18 of the Sandton Eye development. They are on the market priced from R1.95 million for an entry-level one-bedroom apartment of 44sqm. The one-bedroomed apartments are also available in a 68sqm size and the two-beds are 104sqm.
With commercial offices, a retail component and fully serviced luxury conference facilities available at the Sandton Eye, the executive can take care of his or her business all within the same building. Residents can also take advantage of the five-star facilities offered at the Radisson Blu Gautrain Hotel. The pool bar and sun deck are the perfect place to unwind and enjoy a sundowner with business associates while fine dining is to be had at the renowned Central One restaurant.
“PGP is delighted to have entered into a partnership with the developers of the Sandton Eye apartments to sell them exclusively. These properties offer the very finest in urban living and represent an excellent opportunity for anyone looking for convenient first-class accommodation within Sandton or simply as a sound investment,” concludes Dr Golding.