Rose­bank: The come­back sub­urb

Finweek English Edition - - IN THE NEWS - BY GLENDA WIL­LIAMS

The Jo­han­nes­burg sub­urb of Rose­bank may not have been front of mind in lat­ter years as a chic area in which to live, work and play, but an in­creas­ingly ur­ban­fo­cused so­ci­ety is chang­ing that. As have long com­mutes and re­liance on pri­vate trans­port, which have led to a decline in the pop­u­lar­ity of sub­urb living and a re­vival in the ap­peal of ur­ban space along qual­ity trans­port cor­ri­dors.

Al­ways a unique busi­ness and res­i­den­tial area with a deep-rooted pedes­trian and street l i fe cul­ture, Rose­bank be­gan to show signs of de­cay when in­ter­est be­gan to shift to­wards out­ly­ing sub­urbs. But the cat­a­lyst to the area’s re­nais­sance has been its Gau­train sta­tion, with com­mer­cial, re­tail and res­i­den­tial devel­op­ment in the node swelling as a re­sult.

“Over the past three years alone, close “The re­fur­bish­ment of firstly the Firs, then the Mall, and now work be­ing done on the Zone, has moved Rose­bank up the scale on the re­tail and en­ter­tain­ment front,” he adds.

The mod­erni­sa­tion and re­de­vel­op­ment of the Rose­bank Mall, an in­vest­ment of around R920m from JSElisted fund owner Hyprop, was re­cently com­pleted, al­most dou­bling its let­table area to 62 000m2.

Clearly, con­fi­dence in Rose­bank is not in short sup­ply, un­sur­pris­ing if one takes into ac­count that the precinct is home to the third-largest high-rise busi­ness cen­tre af­ter Sand­ton Cen­tral and the in­ner city. Stan­dard Bank’s new head of­fice, to­gether with other of­fice de­vel­op­ments, has in­creased the num­ber of of­fice work­ers in the node, ac­cord­ing to Reynolds.

Ned­bank has ex­po­sure to nu­mer­ous

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