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Investec Property is spending a lot of money in Rosebank, believing that it is becoming one of South Africa’s most coveted commercial and retail centres and of course that is good for anybody who has offices in the nearby area. Standard Bank’s new head office is in Oxford Road and the Rosebank Mall is undergoing a redevelopment which is going to double its size from 36,000 m² to 62,000 m².
Office vacancies in Rosebank have, since opening of the Gautrain Station, shrunk from 12% to 7%. Investec Property has bought the old Galleria and is planning to turn it into a mixed use development. It is going to have offices, retail and possibly also upmarket residential properties. The project will apparently link to The Firs and will ultimately comprise of three or four 10 storey buildings creating a mini Melrose Arch.
Posted by Michael de Broglio on Thursday 20-Dec-12
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Comments
Cherise said:
on Monday 14-Jan-13 09:16 AM
I like Rosebank Mall very vibey and diverse. I think this would be a great expansion. This will sure be worth it.
Julie said:
on Monday 07-Jan-13 11:27 AM
I wasn't ever a huge fan of Rosebank Mall but went there yesterday and wow, what a vibe! Nice and viby and busy....and expensive.
Tans said:
on Tuesday 25-Dec-12 08:36 PM
I've heard that HYPROP is to redevelop the Rosebank Mall at a cost of about R920 million and has also taken a major step towards expanding its presence and investments in Africa. The redeveloped mall would accommodate some major new tenants, including an 8 500m² Woolworths store and a 6 000m² Edgars store, while Dischem Pharmacy would take up a 2 000m² area. Construction has started and the project is expected to take 24 months to complete. As far as I can understand, HYPROP also entered into an agreement with the Atterbury Group as a co-investor in Atterbury Africa and considering development opportunities in Accra (Ghana), Zambia and Mozambique.
Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
