Rosebank is transforming into Joburg’s third largest high-rise business centre, partly driven by the newly opened Gautrain station, according to research released yesterday.
“The June opening of the Gautrain station in Oxford Road has caused a flurry of activity in the property market, with new builds and revamps of older office buildings,” said Jane Parker, area specialist and commercial broker at Broll property services group, which conducted the research.
“Rosebank is reviving, with great retail and new office developments,” Parker said.
“Rentals are now at a level where we recently leased out 4 000m2 of office space in Oxford Corner at a gross rental of R170/m.”
Standard Bank had commissioned a 60 000m2 office development and Rosebank Mall was due for a major upgrade and extension. – Sapa