WORDS: DEBBIE HATHWAY :: PHOTOS: SUPPLIED
The Rosebank star is still rising as the vibrant neighbourhood leverages its strategic location near Sandton to attract more affluent residents
Looking back on the 10-year evolution of Rosebank from the “humdrum of 9 to 5 workplaces” to the sought-after compact living destination it is now, it’s easy to understand why Johann du Plessis, Development Director at Feenstra Group, says, “It’s little wonder that Rosebank is the ‘one to watch’ in 2023.”
While developers and place-makers have capitalised on numerous exciting development opportunities, evident in the ever-changing skyline, Rosebank’s new outlook is not lost on Jozi’s residents either.
With so much going for it – location, commerce, retail, culture and safety – Rosebank is the perfect compact living destination with amenities for work, play and leisure dotted along safe pedestrianised streets framed by character-filled Art Deco buildings. Swish makeovers have transformed corporate buildings like The Bank and Rosebank Towers, with Rosebank Mall and The Zone@Rosebank now fashionable destinations offering high-end retail and entertainment.
PRIME LOCATION GEM
“The last census showed that Rosebank’s population rocketed by 69%, significantly outgrowing Craighall Park, Hyde Park, Illovo and Sandown, which saw much smaller increases between 11% and 17%. Rosebank’s occupiers have also earned the suburb an affluent status, with an average monthly household income of between R115 000 to R145 000, compared to R33 000 to R44 000 for Johannesburg,” says Du Plessis.
Local authorities have earmarked the suburb for improved service delivery and infrastructure, with some estimates indicating that Rosebank has already benefited through more than R7 billion worth of investment in recent years.
“Rosebank is the place to be – a prime location for enjoying the best blend of buzzing city vibes and convenience. So, what drives Rosebank? Amenities? Pent-up demand? Location? Inward investment? In my opinion, all of the above. Homes like those at The Bolton and other popular developments in the neighbourhood will soon become landmark addresses in a suburb primed to become the next Sandton,” he says.
PERFECT STARTER HOME
Brought to market by Feenstra Group and Emira Property Fund, The Bolton was one of the first Rosebank developments to provide affordable rental accommodation. The R210 million conversion of former offices into residences helped meet the demand for investor stock, now evolving beyond the rental-only model to transform into sectional title opportunities ideal for first-time buyers.
Du Plessis says that with the recent interest rate hike of 50 bps taking the interest rate up to 11.75%, developments such as The Bolton are better positioned for investors to reap the rewards of the lively rental market in a fully tenanted building. “A higher interest rate will always impact the investor, but the uncertainty about whether it will go up further is the real risk. If uncertainty is in the market, caution will prevail. However, we are constantly looking to upgrade our packages to investors to keep adding value and staying relevant in the market.”
MODERN WORK-READY HAVEN
Over the past five years, living arrangements in The Bolton have undergone significant changes in line with the increasing popularity of the lock-up-and-go lifestyle. Living in compact, low-maintenance residences that offer convenience and security appeals to individuals, young couples and families who appreciate quickly locking up their apartments and leaving without worrying about security concerns. The Bolton’s central location makes it easy for tenants to access major highways, public transportation, and the OR Tambo International Airport via the Gautrain.
Du Plessis highlights another notable change in the number of employees who travel around the country for work. With technological advancements and the growing emphasis on flexibility, many companies now have decentralised workforces, allowing employees to work remotely or travel for projects. Another advantage for tenants at The Bolton is the availability of work pods and boardrooms with internet facilities. These amenities have gained popularity as they cater to the needs of entrepreneurs and small business owners who require a professional workspace without the cost and commitment of a dedicated office.
The Bolton offers studio, one-and two-bedroom apartments selling from R749 000. The development incorporates lock-up-and-go convenience with 24-hour security, a reception, boardroom and work pods, a laundry room, a garden, a pool, and storage facilities. The development has a full backup generator, so tenants never worry about load shedding.
