Rosebank moves with the times
Before the rise in commercial development, Rosebank was mainly a residential area, and has again become an attractive area for prospective investors in residential construction.
This was according to Ward 117 councillor Tim Truluck.
He said Rosebank would see a change from being an office space to welcoming young people looking to live in the area.
He explained how construction companies had begun investing in land and were selling apartments to potential homeowners.
The recent pre-launch of a new apartment development in Rosebank, The Vantage, was also met with an overwhelming response from buyers and investors on 30 January.
The pre-launch function, held at The Crowne Plaza Hotel, saw more than 500 prospective buyers and investors in attendance.
A total of 118 of the 165 executive apartments were sold on the evening, and by 3 February there were only seven apartments available for sale.
The 10-storey development will be situated on the corner of Bath and Tyrwhitt avenues.
Russel Peach, divisional manager of Renprop Residential, attributes the success of The Vantage to its prime position.
“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,” he added.
“In addition, The Vantage is well-located within easy reach of 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.”
Furthermore, he said that the demand for residential property in the area had been proven by the buyer response to The Vantage.
“The lack of land available for development, along with the cost of land in the area has not made residential development a viable option – up until now that is,” concluded Peach.
