Modern executive apartments a first for Rosebank

Modern executive apartments a first for Rosebank

 

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Executive apartments a first for the suburb

Next year will see the launch of a new, modern executive apartment development in the heart of Rosebank, which is a first for this well- established Johannesburg hub. Rosebank has seen much commercial development and investment since the Gautrain station was built a couple of years ago, and as such, has been declared as one of the 35 priority areas in greater Johannesburg to receive improved service delivery and infrastructure.
In the past three years, close to R7-billion has been spent on the development of new office buildings and the refurbishment of older commercial buildings in the area, including the extension and upgrade of The Mall of Rosebank and the new Standard Bank offices, among others. The commercial node is likely to strengthen further in the next three to five years following development in the pipeline of up to 100 000m2 of office space, which is mooted in a number of proposed developments in Rosebank.

 

Area now major business hub

According to the Rosebank Management District, the area has become the city’s third largest high-rise business centre, after Sandton Central and the inner city, due to the opening of the Gautrain station in 2011. While commercial development and investment in Rosebank has been ongoing, there has been little activity on the residential side mainly due to the lack of land available for development and the cost of land in the area, which makes residential development too expensive to be viable, says Russel Peach, divisional manager of Renprop Residential. “This has led to a pent-up demand for residential property in Rosebank.”

 

Big demand for residential property

Renprop, together with its development partners, has identified a gap to satisfy this demand for modern residential accommodation and has managed to secure a good site for a residential development after much negotiation. Renprop is developing The Vantage, an executive apartment block, through their development division, SPACE Developments, in a joint venture with Grapnel Property Group. Set to launch in January 2014, apartments at The Vantage will be priced from the early R1-million mark and range up to the mid R4-million mark. These apartments, says Peach, are ideally suited to upwardly mobile executives who are looking to live closer to their place of work due to increasing travel costs, as well as investors or corporates who need accommodation for visiting executives.
“Rosebank is a well-maintained area, and the Rosebank Management District works closely with the relevant municipal departments to secure cooperation and commitment on issues such as public infrastructure and services to ensure they support future development proposed through the Rosebank Urban Development Framework,” says Peach. 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.

 

“The Vantage” perfectly positioned

In addition, The Vantage is well located with easy access to Johannesburg’s major road network, and is well positioned between the Johannesburg and Sandton CBDs. The area is also home to some excellent schools and medical facilities.To be situated on the corner of Bath and Tyrwhitt Avenues, the 10-storey development will be home to around 165 executive apartments, which will be available in a 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.

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