Johannesburg’s Rosebank on the rise

The construction of the Gautrain station, major commercial property and transport developments in Rosebank are among exciting projects that have turned the node into a unique, vibrant and cosmopolitan hub.

The construction of the Gautrain station, major commercial property and transport developments in Rosebank are among exciting projects that have turned the node into a unique, vibrant and cosmopolitan hub.

Rosebank, which sits in the middle of Johannesburg, Illovo, Melrose and Sandton is a favourite among Johannesburg residents for its vibrant commercial and entertainment hub, is becoming one of city’s fastest growing development nodes.

Peet Strauss, Pam Golding Properties (PGP) Hyde Park developments manager says that the growing demand in and around Rosebank is largely attributable to the changed image of the area.

“With corporates such as Standard Bank increasingly investing in the precinct and upgrades to area landmarks such as the Rosebank Mall, The Zone and Netcare Rosebank Hospital, perceptions have changed radically. So much so, that Rosebank is becoming one of Johannesburg’s most desirable areas” Strauss says.
 
“The Gautrain has, without doubt, boosted development in the area with Rosebank now perfectly positioned as a mixed-use, ‘chic and hip’ suburb. Tree-lined and vibrant with a rich, cosmopolitan culture, the precinct is pedestrian-friendly while designed to maximise access to public transport. Rosebank has become increasingly popular among the younger set for its inner-city lifestyle. This newfound appeal has literally resulted in the creation of a new market segment,” adds Strauss.
 
In addition, the close proximity of Rosebank to Johannesburg and Sandton has long been an important selling point. OR Tambo International is only 35 minutes away by road and is also easily accessed via the Gautrain, as is Pretoria. Excellent schools including St Theresa’s Convent, Kingsmead and Rosebank Primary and ample shopping and entertainment offered by Rosebank Mall and the Zone, completes the picture of a vibrant, fast-paced environment.
 
Commercial property development has been particularly buoyant following the opening of the Gautrain Station in 2011, with close on R7 billion being spent on the development of new buildings and the refurbishment of several existing buildings.

The residential property market however has been more subdued because of the shortage of available land for development in Rosebank. This has created a considerable demand for residential property in the area.

The Rosebank shopping centre is also undergoing a R1.77bn revamp. Rosebank Mall facelift is expected to provide shoppers a “modern refreshed look and feel” and double its size to 62 000 m² of lettable area.