Located in the northern suburbs of Johannesburg, Rosebank is one of the hottest business districts in SA right now.Ongoing development in the area continues to attract some of the most prominent names in business and has given this multicultural district a welcome facelift over the years
From tastefully-designed office and co-working spaces to mixed-use buildings, sought-after restaurants, bars, art galleries and high-rise apartment blocks, Rosebank is leading the way and showing the likes of Sandton, Joburg and Cape Town central business districts, what it takes to bring tourism, workers and former city dwellers back after the pandemic.
Galetti commercial sales and leasing executive Paveshan Govender says that Rosebank’s growing popularity is clearly underpinned by the growing demand for commercial property rentals and some of the highest rental prices achieved across the country. “The average price per square metre in Rosebank ranges from R180 to R220, a big jump from Sandton’s R150 to R180 per square metre for A-grade space.”
Added to this is the recent trend around “sizing up”. “In 2020 and 2021, the majority of tenants were in search of properties under 500m2. “However, this year we are seeing growing enquiries for spaces in excess of 1,000m2.” Speaking to its rich history, Govender explains that the area was previously known as Rosemill Orchards and plots in the area were first sold in 1896. “Rosebank and Dunkeld were two of the first suburbs to offer trolley-bus transport back then.
“Today, the likes of tenants Coca-Cola, Sappi, Standard Bank and the revamp of the Firestation – now housing co-working space Workshop17 – have all helped put Rosebank on the map. Recently, we moved our head office from Melrose Arch to Rosebank.”
WHAT MAKES A CBD A SUCCESS?
Every city has a CBD but not every city has a CBD that people want to frequent. “Take Joburg CBD for instance. While it’s had some success over the years in attracting big corporate brands and substantial investment by both the private and public sector, there are still issues around safety, security and cleanliness which have caused some tenants to leave.” Govender shares a host of key factors that go into the making of a successful CBD and what other CBDs can learn from Rosebank:
SAFETY AND SECURITY, ABOVE ALL ELSE:
“This goes without saying. While the municipality is largely responsible for the upkeep of an area, the private sector still plays a key role in the upkeep required to make a CBD great. In Rosebank, for example, there is ample safe parking for each building and all buildings have security measures in place.”
CLEANLINESS AND BUILDING UPKEEP:
“The upkeep of buildings and cleanliness of an area is key – particularly when it comes to promoting tourism.”
CONVENIENCE AND ACCESS:
“Rosebank’s recipe for success involves older established shopping districts combined with newer eclectic attractions that are easy to frequent by foot, public transport or car. In a small radius, you have access to a host of restaurants, shops, bars and art galleries.” Govender adds that the Gautrain’s stop in Rosebank also helped to breathe new life into the area in 2011.
CBD DISRUPTORS:
“Rosebank continues to break the mould by delivering new and exciting concepts. It’s home to a host of Green-star rated buildings, the architecture and design of new buildings are in a league of their own and the likes of The Pantry by Marble have reinvented the traditional petrol station and convenience store into something that most of us has never seen before.”
CO-WORKING WORKS:
“The rise in entrepreneurship and SMEs continues and it’s important that a CBD accommodates this demographic. Shared workspaces WeWork and Workshop 17 are bringing people back to Rosebank CBD. Whether you’re a creative or an accountant, there’s something for everyone thanks to flexible rental options.”
MIXED-USE DEVELOPMENTS THAT HIT THE MARK:
“There are many mixed-use developments around the country,” says Govender. “But not many ‘hit the mark’ like Rosebank does. Here, you’re able to live, work and play in one trendy, convenient and safe space. “The development of the new Oxford Parks precinct has led to a migration by multinationals from Sandton CBD to Rosebank. Oxford Parks is home to Anglo Gold, BP South Africa, Arup and Life Hospital. It also offers an array of retail outlets and is becoming known as the premium grade mixed-use precinct of the northern suburbs.”
EXCITING RESIDENTIAL DEVELOPMENTS AND ONGOING INVESTMENT:
“Developers such as Vlaming, The Capital Group and Redefine are all playing a part in bringing people – particularly millennials and Gen Zs – back to the city. “The likes of The Monroe and One Rosebank are stellar examples of exciting city living concepts. “In addition, ongoing investment in the area continues to signal investor confidence and makes it an exciting place to be,” says Govender.
