Executive living in the heart of Sandton
Apartments at Nelson Mandela Square’s The Raphael are ideally suited to young executives and career-driven couples. Michelle Swart finds out more
BY THE 1930s, the suburbs of Sandton were well established as “gentleman estate” areas consisting of exceptionally large properties. In 1969, Sandton was promulgated as a municipality and the development of Sandton City during the early 1970s was the first step towards transforming it from a farming community to a bustling business district.
The Sandton Management District website (sandtoncentral.co.za) notes that the rush of commercial space began in the mid to late 1980s when land in Sandton, Rosebank and Parktown was cheaper than that in the Johannesburg CBD. It says that in accordance with Sandton’s amendment scheme 292, the council agreed to 200 000m² of office space. Today, the figure for Sandton Central alone stands at one million square metres. Sandton City’s addition, Sandton Square, was renamed Nelson Mandela Square on the 10th anniversary of the complex in 2004 when a 6m statue of Nelson Mandela was installed to honour the famous South African statesman.
The advent of the development of these shopping districts and the rush for commercial space outside of the Johannesburg CBD has cemented Sandton’s position over the years as the most important business and financial district in South Africa.
With today’s live-work-play lifestyle that demands a range of amenities, it’s no surprise that Sandton’s CBD is home to a range of residential apartments aimed at the executive and business traveller.
Some of the most up-market apartment developments are at Nelson Mandela Square, such as the 4 623m², R108m apartment block The Raphael. The 64 luxury suites with fully equipped kitchens come in one-, two-and three-bedroom formats, with sizes ranging from 74m² to 101m² for one-bedroom apartments. Two-bedroom apartments range from 130m² to 160m² and penthouses from 650m² to 700m².
“While these apartments are ideally suited to young executives and career-driven couples, investors also see the opportunity to receive a great capital appreciation and a constant hassle-free rental income through the Legacy-run rental pool,” says Johan Troskie, general manager at Michelangelo Towers and The Raphael.
He says that the Legacy rental pool helps to ensure the capital appreciation of an owner’s asset.
When asked why an apartment at The Raphael was a good investment option, Troskie cited the location, privacy and unique lifestyle as some of the top reasons, along with the rental pool and the understated and private five-star environment. Contact: Legacy property sales Gijs Foden 076 860 060 Juliet Knight 083 656 5211 Office 011 245 4469