Rosebank is well known to be one of the major commercial nodes in the Northern Suburbs, and as such has received constant interest from developers in the retail, residential and commercial property spheres. The suburb, having evolved into Johannesburg’s most sought after work-live-play arena, with buildings such as the Design District and Rosebank Towers, has taken the step towards further aggregating into a macro precinct to enhance the pedestrian friendly environment. This is fast becoming a priority for tenants looking to lease residential and commercial space in Rosebank.
A few of the established corporates currently in the suburb include Coca Cola, Standard bank, Redefine Properties, British Petroleum and Sappi.
This idea is seen to be a major influence in all up-coming developments, feeding into a modern pedestrian friendly environment stretching along Oxford Road from Bompas Road down to 14th Avenue. This stretch of Oxford Road is to host the following premium grade office blocks:
OXFORD PARKS – It is currently under construction and set to stretch between Jellicoe Avenue and Bompas Road. The scope of Oxford Park Project is to provide lettable office space for small to large companies in the various low-rise blocks with direct access to the precinct’s ground floor retail centres and CID security presence, all within walking distance to the Rosebank Gautrain Station and various other amenities available within the suburb.
ROSEBANK LINK – The premium grade office tower in Rosebank is well under way with completion scheduled for end of 2018. The final product is to offer eight floors of commercial space and has been designed with latest Green principles in mind. Tenants and visitors will have direct access into The Zone through the retail floor at ground level and floor plates in this development are available at roughly 2 200 square metres with an option to subdivide.
GALLERIA – The Galleria is to be a mixed use development totalling around 90 000m2 in the centre of Rosebank. Although it is set back one block from Oxford Road, the integration of development into the surrounds will further expand the precinct and pedestrian permeability. On completion, the new building will host retail tenants at ground floor and is able to be designed to tenant-specifications should future tenants come on board prior to construction commencement.
144 OXFORD – The new development is located across the road from the Hyatt hotel and is to be an attractive addition to the Rosebank skyline. 144 OXFORD features two P grade towers which consist of premium grade office space and scheduled for completion end of 2019, the building offers unrivalled exposure onto Oxford Road and access into the upcoming precinct. Each wing will offer approximately 17 000 square metres of office space with numerous sub-divisible options to appeal to the varying degrees of commercial tenants.
OXFORD & GLENHOVE PRECINCT – Located on the southern end of Rosebank, the block-wide precinct is introducing a world class business node of appealing architecture and interlinked office blocks, with integrated common areas and walkways buffered by landscaped gardens and coffee shops. Already boasting a tenant mix of international corporates and local companies, the Oxford & Glenhove Precinct is well on its way to be Rosebank’s hotspot for commercial clients. The precinct is comprised of 8 low-rise office blocks and provides a great opportunity for larger corporates to tenant entire blocks, and for smaller companies to choose between a variety smaller units, all with access throughout the interlinked walkways and 300 metres from the Gautrain Station and Rosebank Mall.
104 OXFORD – Further south along Oxford Road is the low-rise commercial development of 104 Oxford. The building offers access off of 9thStreet allowing tenants and visitors a quiet entrance point and exposure with great signage opportunities onto Oxford. Once completed, the building will offer floor plates of around 1 400 square metres with the option to either purchase as sectional title offices or to lease directly from the developers. Both of which offer various sub-divisible sizes over the four levels of office space.
With these upcoming developments and additional office space coming to the market, rentals are currently set to range from R200 to R260 per square metre in premium suites and R120 to R180 per square metre for existing A Grade and B Grade units. Due to the central location of Rosebank between Johannesburg CBD and Sandton Central, and the Rosebank Gautrain Station simplifying accessibility with plans to expand the public transport provider’s foot print, the suburb is receiving increased interest which is driving investors to new developments and to re-develop existing buildings.