Following on from the success of The Link and The Cube, Renprop launched three more developments in the Rivonia precinct, namely The Atrium, Cottonwoods and Homestead, to cater to the strong demand for sectional title units in the area. Chris Renecle, MD of Renprop says that the strong demand for off-plan residential property in this area continues unabated.
Renecle says that it is primarily the area on the western side of Rivonia Road which is seeing development as it has been earmarked as Johannesburg’s new high density node. He expects that this region will continue to see growth as demand remains strong. He says that there is also a high demand for rental units in the area, which is another factor driving the demand for units by investors who looking to add to their buy-to-let portfolios.
Renecle says that the pent up demand for rental units in the area led Renprop to develop a purely rental sectional title scheme. Consisting of 160 units, The Prism is situated next to The Link on 11th Avenue, just off Rivonia Road. The construction of these units, which range in size from around 50m2 – 80m2, is complete.
Renecle attributes the popularity of the area to its positioning close to the Sandton CBD, major highways and public transport infrastructure such as the Gautrain, as well as other amenities including shopping centres, medical facilities and schools.
Phase one of The Atrium, a 178 apartment, four-storey building, is sold out, completely constructed and handed over, while the construction of phase two is now underway. Measuring between 40m2 and 90m2, the one- and two-bedroom apartments at The Atrium have been designed in a modern, contemporary style, planned with young professionals in mind. These well-positioned apartments on the corners of 7th and Rivonia Roads, within walking distance to shops, gyms and the Gautrain bus route, are available from approximately R980 000.
Construction has started on Cottonwoods, a Georgian-style apartment development characterized by symmetrical design, classic proportions and decorative elements that offers 76 apartments located on Homestead Road in a quiet and peaceful area on the western side of the Rivonia precinct.
Russel Peach, Divisional Manager of Renprop Residential Projects, says that four of the 76 units will be created into exclusive penthouses that feature terraces with magnificent views down into the Bryanston valley. Buyers also have the option of a selection of one- and two-bedroom apartments priced from R1,050million.
The Homestead, which is well located on the corner of 12th Avenue and Homestead Road in Rivonia offers 32 contemporary, semi-detached duplex homes which are ideally placed for those who work or have children attending school in the Bryanston/Rivonia/Sandton areas. Construction at this development is well underway, with 70% of the units sold out.
Peach says that the townhouses at Homestead, which are available in two-bedroom; two and a half-bathroom as well as three-bedroom; two and a half-bathroom configurations are ideal for investors, small to medium sized families and young professionals and are available from R2,175million.
As a semi-detached duplex townhouse development, each unit will be practically freestanding with private, walled gardens.
Renecle points to the rapid development in the general Rivonia region in recent years as another factor fuelling demand for residential property in the area. “In light of all the upgrades to facilities in the area, coupled with its excellent location and range of amenities, we expects the node to remain buoyant with continued demand for sectional title property to own and to let for the foreseeable future,” Renecle concludes.