First high-rise for young sub­urb

A new de­vel­op­ment in Sun­ninghill, Gaut­eng, is set to change this vi­brant sub­urb’s sky­line. Lea Jacobs re­ports

Business Day - Home Front - - HOME FRONT -

ORIG­I­NALLY known as Rock­ymead Farm, the area of Sun­ninghill in Gaut­eng has blos­somed into a thriv­ing res­i­den­tial and com­mer­cial cen­tre.

Gen­er­ally home to the younger set, the sub­urb houses large num­bers of up-and-com­ing young pro­fes­sion­als.

The area is also home to a num­ber of San arte­facts which have been pre­served in Rock­ymead Her­itage Park. Over the past two years, the Sun­ninghill Com­mu­nity Gar­dener’s Ini­tia­tive and lo­cal res­i­dents have joined forces and cleared the park of ex­otic flora and have placed walk­ways al­low­ing vis­i­tors to catch a glimpse of where the San once lived.

The area is home to a large num­ber of sec­tional ti­tle de­vel­op­ments and Light­stone data in­di­cates that 61.89% of all properties fall into this cat­e­gory. The news that Man­hat­tan, Sun­ninghill’s first apart­ment de­vel­op­ment, is to be built has been wel­comed.

In­ter­est­ingly, prices for prop­erty in Sun­ninghill did not drop dur­ing the eco­nomic down­turn and prices for sec­tional ti­tle properties con­tinue to grow steadily. The aver­age price paid for a unit in the sub­urb to­day hov­ers around the R880,000 mark. Over 60% of re­cent buy­ers are aged be­tween 18 and 35.

Fol­low­ing on from the suc­cess of its Rivonia res­i­den­tial apart­ment de­vel­op­ment, The Link, Ren­prop Res­i­den­tial has launched the 180-unit de­vel­op­ment.

Rus­sel Peach, res­i­den­tial sales man­ager at Ren­prop Res­i­den­tial, says that 90% of The Link has been sold and the last of the 340 units will be fin­ished in De­cem­ber. “There has been a strong uptick in sales mar­ket in the short­est time, ow­ing to the de­mand for well­priced homes and value for money in cer­tain seg­ments.

“Well lo­cated sec­tional ti­tle de­vel­op­ments in this re­gion of north­ern Jo­han­nes­burg are highly sought af­ter and of­ten pro­vide in­vestors who buy off plan with good re­turns in terms of rental yield and cap­i­tal ap­pre­ci­a­tion. As such, we are an­tic­i­pat­ing a high level of in­ter­est at the launch of Man­hat­tan,” Peach says.

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