Why Rosebank – the “It” neighbourhood in JHB
MAIN IMAGE: Carl Coetzee, CEO of BetterBond
Rosebank, Johannesburg, one of the oldest suburbs in the City of Gold, is getting a glow-up. Always a popular choice for families looking for proximity to excellent schools, an influx of local and international businesses, embassies and new restaurants and hotels has given it a youthful, modern and trendy edge.
This “new” Rosebank has cemented its reputation as a top foodie and experience destination.
A great place to stay
Millennials are starting to move into the area as more apartments become available on roads such as Tyrwhitt Ave. This street is conveniently located within walking distance of the ever popular The Zone shopping centre and Rosebank Mall. Both centres are home to a variety of brands, stores and eateries that appeal to the work-from-anywhere generation.
Bond originators, BetterBond, have also noted an interesting trend in buyer behaviour and demographics in the area as of late.
“Property data from credit bureau TPN indicates that sectional title properties are more popular, with transaction volumes up from 2020,” says Carl Coetzee, CEO of BetterBond.
“Of the properties in Rosebank, 77.08% are investment properties and 52.3% are rental properties. It’s possible that given its central location and proximity to the Gautrain, and demand for sectional title properties from young professionals who want to live closer to Sandton and offices in the area, Rosebank is becoming an appealing buy-to-let investment option.
“Also noteworthy is that, according to Property24, half of the buyers in the last year have been between the ages of 18 and 35, suggesting that Rosebank is becoming the next “it” spot among young professionals and first-home buyers,” adds Coetzee.
“Sellers, however, are at the other end of the age spectrum, with almost 53% being 50-64 years old, 26.3% being 36-49 years old and 10.5% being 18-35 years old. This too suggests that Rosebank is an up-and-coming suburb that appeals to a younger homeowner or savvy investor,” he says.
For those who love to eat out, the area is home to some of the best-loved eateries in the city. Lexi’s Cafe is a popular hangout for those wanting healthier dining options while world-renowned Luke Dale Roberts is getting ready to open his Ethos restaurant. Joining these soon will be OUI Bar & KTCHN and a stunning rooftop bar and terrace. Both will open at the soon-to-launch Radisson RED Rosebank.
Adding to the appeal of this is the fact that this will be the first RED in Gauteng and only the second RED to hit African soil after Radisson RED Cape Town at the V&A Waterfront. The new hotel will be situated at Oxford Parks, another vibrant precinct in the Rosebank area.
Radisson RED is a unique hotel concept, created for the next generation of travellers with a modern mindset and an always-on attitude, which is why it’s perfectly suited to Rosebank’s new era.
Perfect corporate HQ
Several leading companies have also set up their headquarters in Rosebank. Sony Music and Life Healthcare have recently moved into the area, while serviced office space operator, The Business Exchange, have taken out large spaces in the area because of the convenience of being in Rosebank. It’s proximity to the Gautrain Station is a huge drawcard for businesses and developers.
The area is also becoming a highly popular art haven. There’s the popular Keyes Art Mile, which includes several local galleries and exhibitions including the Everard Read, Circa, Goodman Gallery, and TMRW galleries to name a few. A new addition to the art scene is a massive angel wing sculpture by renowned artist, Usha Seejarim. This magnificent piece is a permanent installation in front of Radisson RED. The hotel will also be home to several exhibitions once it opens within the next couple of weeks and will include works by Marlene Steyn and Prince Gyasi for its opening.
Rosebank, while not an unknown neighbourhood, is stepping out of the shadows of areas such as Sandton and coming into its own. With so much to see and do, one could argue that Rosebank is becoming a must-experience destination when visiting Johannesburg – or even if you’re a JHB resident already. There’s something for everyone.