Rosebank, Johannesburg, is an upwardly moving investment node offering "big city" luxury apartments for investors, according to Jonathan Kohler, CEO of Landsdowne Investment Properties.
R20bn has been invested in the Rosebank precinct in the past two years.
"While we are seeing wealth-portfolios focussed on offshore investment, big city investment should not be overlooked, particularly in a node like Rosebank," he said. This is due to the increase in corporates needing to house international executives close to the business district.
Business people transitioning from Cape Town and other regions to work at Sandton-based head offices, is another reason for the popularity of contemporary new developments such as 100 Oxford.
"The appeal of owning an investment property is always about proximity to the central zone, and Sandton – as a finance, business, fashion entertainment and retail hub – is the first point of contact for many business executives and tourists to Johannesburg," says Kohler.
"Because of this, many international corporations have recently moved their local corporate head offices to Rosebank and are looking for upmarket accommodation for executives in transit."
In Kohler's view, Rosebank is the kind of area that will retain its strength and remain a very strong investment opportunity "through the spikes and troughs to come".
Recent developments include upgrades to the Rosebank Fire Station, Rosebank Mall, The Zone, Oxford Corner, Rosebank Towers, Vantage, The Bolton, The Galleria, The Tyrwhitt, The Median and the Netcare Rosebank Hospital.