Pam Golding Properties has been awarded an exclusive mandate to market Park Central, a groundbreaking luxury high-rise residential property development situated in the heart of booming Rosebank, Johannesburg.
This was announced recently by the Pam Golding Property group chief executive, Dr Andrew Golding. “Pam Golding Properties is honoured to market the properties of a residential development that is both revolutionary in its concept and unprecedented in its scope for the area. The block will also assist to further stimulate the rapidly growing local economy of Rosebank,” he emphasised.
“With its modern design, Park Central is set to become the landmark residential building of the Rosebank area. Offering a compelling combination of ‘green’ and Manhattan-type lifestyles within a secure environment, this residential development will offer the people of Johannesburg a completely new model of urban living.”
Dr Golding explained that Park Central has been designed around a pedestrian precinct incorporating landscaped parks and sky gardens, and will have all of the convenient facilities of Rosebank available including the Gautrain Station and the Rosebank Mall, both of which are within easy walking distance. Medical facilities, hotel and conference facilities, schools, art galleries, a public library, parks and a number of office blocks, company headquarters and other commercial buildings are also within easy reach of the development.
Park Central is being developed on the corner of Baker Street and Keyes Avenue in Rosebank, and will consist of more than 400 luxury one- and two-bedroomed apartments, as well as three-bed penthouse units with a choice of the highest quality finishes, noted Dr Golding. The sectional title apartments will be priced from R1.75 million and marketed off-plan from February 2015.
Peet Strauss, development manager at the Pam Golding Properties (PGP) Hyde Park office, points out that with some R7 billion in investment in commercial buildings alone, the Rosebank precinct has undergone rapid growth in recent years. “The residential property market in Rosebank has grown hand-in-hand with this and the demand for well-situated property in the area has been unprecedented. Rosebank is now being associated with a highly colourful, dynamic and convenient urban-chic lifestyle,” he observes.
“Sectional title properties have comprised 38 percent of the PGP Hyde Park office’s property sales to date this financial year (commencing February 2014, indicating just how important this property segment is within Johannesburg’s northern suburbs,” says Strauss. “Home seekers appreciate the lock-up-and-go lifestyle this form of ownership offers. This market is even more compelling in Rosebank, where by far the majority of homes are owned as sectional title properties.”
“The developers of Park Central have noted a rapidly growing demand for property – particularly secure, high-quality sectional title homes – in Rosebank where residential property is in short supply. Such is the demand for these types of homes that PGP agents often report selling them on the same day they are placed on the market. Having carefully researched the market in Rosebank the developers are making available properties for which there is a great need. We consequently expect the Park Central apartments to be sold in record time once they go to market early next year, ” says Strauss.
“An added benefit of Park Central is that it will offer a balanced range of different upmarket property options and is likely to attract the interest of buyers from all walks of life, including executives, business commuters, single professionals and couples, all of whom are likely to appreciate the convenient urban lifestyle on offer and close proximity to a major Gautrain station and road routes. Parents of students including single parents will note that there are a number of excellent schools and other educational facilities nearby, while mature buyers looking to downscale to a more manageable home will also find the apartments an appealing prospect.”
Strauss says that the weak South African rand has played a role in encouraging international investors to look for sound property opportunities in Johannesburg, where they are finding excellent value. PGP has this year seen particularly strong interest in local properties among purchasers from other African countries. Many are international business people who commute between South Africa and elsewhere on the continent, and several are likely to find the Park Central apartments an attractive investment.
“We also expect considerable interest in these apartments from savvy property investors who are looking to buy properties to rent out,” adds Strauss. “They will be comforted to know that these properties are expected to enjoy excellent occupancy rates with the potential of good returns, and therefore represent a solid investment opportunity.”
Strauss says that with state-of-the-art security, the safety of residents will be given top priority. Some of the amenities that will be available include secure pedestrian precincts, a landscaped park, 30 sky-gardens scattered throughout the building as common green space, a clubhouse, a swimming pool, entertainment areas, a coffee shop, a bar/restaurant, a crèche, a gym, a braai area that includes a pizza oven, lounge and entrance foyer with a concierge. The building will have a Green Star SA rating. The Green Building Council SA has developed this rating tool to provide an objective measurement for green buildings in South Africa and to recognise and reward environmental leadership in the property industry.
“Park Central is the largest and most exciting residential development concept to ever come online within the Rosebank precinct. It is an indication of how much confidence the developers have in the property market in the area. PGP is looking forward to marketing these quality homes,” concludes Strauss.