Pam Golding Properties Group Newsletter
PGP logoDate: August 2012

Development News

Park Central, groundbreaking high-rise residential development in Rosebank offers a sophisticated, urban-green lifestyle

Iconic project aims to set the benchmark for apartment living

 

Huge investment in major new developments reaffirms relevance of Cape Town’s city centre

Major progress in projects underway and completed


Luxury apartment development in Menlyn launched

The Regency apartments put to market by Pam Golding Properties

 
Gauteng: Park Central

Park Central

Park Central is an exclusive residential development on the corner of Baker Street and Keyes Avenue in Rosebank, Johannesburg. Developed by Redefine Properties and exclusively marketed by Pam Golding Properties, Park Central will offer an array of beautifully appointed apartments for sale for the discerning buyer.

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Western Cape: Pinelands Grove

Pinelands Grove Retirement Village

Nestled in the breathtakingly beautiful Pinelands with the majestic Table Mountain as backdrop, Pinelands Grove offers the opportunity to purchase a Life Right in a retirement development and enjoy living at its best. Enjoy a safe and secure environment, gracious living for the retiree in an attractive and comfortable surrounding is not just an aspiration. At Pinelands Grove it will become your reality, in a vibrant community establishment.

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KwaZulu-Natal: The Residence

The Residence

Those in search of Umhlanga developments need look no further than this prestigious residential development located in the heart of the new gated eco-estate, Izinga Park. Offering the ultimate coastal lifestyle with easy access to all the facilities and amenities you could ever wish for; from the moment you view the homes here, you will long to call The Residence home.

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Gauteng; The Regency

The Regency

Located in the popular Menlyn Node, The Regency is the first product of its kind in Pretoria. Designed by award winning architect, Archactive International, each of the 146 luxury apartments will be fitted with top quality finishes, kitchen appliances, have their own balcony, as well as secure basement parking, trolley bays and lifts.

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Park Central, groundbreaking high-rise residential development in Rosebank offers a sophisticated, urban-green lifestyle

More than 400 luxury apartments marketed by Pam Golding Properties

Park Central — the groundbreaking luxury high-rise residential apartment block being developed by Redefine Properties in Rosebank, Johannesburg — has been launched with 445 luxury apartments brought to market through Pam Golding Properties.


Park Central

Park Central is a multi-million rand, high-rise residential apartment block being developed on the corner of Baker Street and Keyes Avenue in Rosebank, which is one of the most dynamic and rapidly developing growth nodes in Johannesburg, according to Pam Golding Property group chief executive Dr Andrew Golding.

“This development is bold in its conception, and the properties will offer a sophisticated urban-green lifestyle, the likes of which have not previously been seen in the greater Rosebank area,” adds Dr Golding. “Residents of Park Central will not only appreciate the magnificent sky gardens, manicured parks and roof gardens, but will also enjoy easy access to a host of facilities. The homes will offer a wholly distinctive Johannesburg living experience, and a unique investment opportunity.”

Pam Golding Properties (PGP) has been awarded an exclusive mandate to market the Park Central luxury one- and two-bedroom Park Central apartments and three-bedroom penthouse units. The homes are being sold off-plan and are priced from R1.75 million for an entry-level apartment to R16 million for a luxury penthouse.

Dr Golding says that the development of Park Central, which is due for completion by November 2018, is an indication of just how much confidence Redefine Properties, which is the second largest listed South African-based property company, has in the future of the Rosebank precinct.


Park Central interior

“There has been an ever-growing demand for secure, upmarket sectional title residential property in the area in recent years,” he adds. “The fact that Park Central will be situated in central Rosebank in close proximity to the Gautrain Station, Rosebank Mall as well as a number of office parks, company headquarters and other commercial facilities will only assist to stimulate demand. We believe that Park Central is much needed and its development by Redefine Properties is excellently timed,” he asserts.

Redefine Properties says it is pleased to be part of the development of this iconic residential development, a first for the company. It believes this development will set the benchmark for apartment living and transform the landscape of Rosebank notwithstanding the fact that it is in line with its investment strategy of recycling capital.

Dewald Veldsman of Paragon Architects says the building will form part of an integrated urban precinct, with a vision to include pedestrian links via the parks to the Gautrain Station through to the Rosebank Mall to assist residents to achieve “a highly integrated lifestyle”.

The design is strongly influenced by French-Swiss architect Le Corbusier who between 1931 and 1933, developed the concept of “The Radiant City”. Le Corbusier suggested that city planning and building design should always consider the sun, sky, trees, steel and cement in that order of importance.

A great deal of attention has been paid to environmental factors with regards to the design of Park Central, as well as in the design of the individual units.

Redefine Properties has long been involved in sustainable design in their commercial projects and they requested that this be taken forward into this residential design. Some of the design elements in Park Central are highly advanced and novel. Sky gardens, for example, are becoming increasingly popular in international urban architecture but are a new and most welcome concept for residential buildings in Johannesburg. Sky gardens or vertical forests, as they are also known, offer a means to bring green living to high-density design.

Veldman says that the building is designed to be climate responsive and achieve maximum use of light and energy sources. Glazing will also be designed to take climate and context into consideration and reduce the need for energy to warm or cool the apartments. The building will also employ alternative power supplies such as gas to reduce electricity consumption and reduce reliance on the power grid.

Among a host of other facilities, the development will boast a, pool and entertainment areas, a coffee shop, convenience store, secure pedestrian precincts, sky-gardens scattered throughout the building as common green space, children’s playroom, braai area that includes a pizza oven, lounge, basement parking and elegant entrance foyer along with a gym.

Not surprisingly the Park Central sectional-title apartments have captured the attention of a considerable number of investors. Indeed, according to Peet Strauss, development manager at Pam Golding Properties (PGP), a number of clients have already reserved units.

“These homes have broad appeal as is evidenced by the fact that executives, business commuters, single professionals and couples have all already shown an interest in Park Central,” adds Strauss. “We have also received a number of enquiries from international investors, particularly from other countries in Africa. Some have expressed a need for a conveniently situated home in South Africa, while others have noted the high demand for short term luxury rentals in Rosebank and believe that the apartments offer an excellent ‘buy-to-rent’ investment opportunity.”

Strauss says that rental market in Rosebank is benefitting from the shortage of quality of accommodation that is currently available in the area. He adds that the fact that Rosebank is not only a vibrant commercial area in itself, but is also situated close to Sandton, the financial capital of the African continent, only adds to the demand for homes in the area.

Park Central offers those looking to enjoy green living in the heart of the city a fantastic opportunity. This outstanding building has been designed with the environment, security and convenience in mind to offer buyers a truly unique lifestyle,” concludes Strauss.

For more information please contact Peet Strauss on 083 675 1212 or via the email address pstrauss@pamgolding.co.za.

Huge investment in major new developments reaffirms relevance of Cape Town’s city centre

Over the past few years Cape Town’s central city has attracted huge investment with numerous major new developments, renovations and additions completed, says Selwyn Sharon, commercial broker for Pam Golding Properties in the Cape Peninsula.

“Further new commercial and mixed-use developments planned for initiation in 2015 are a positive re-enforcement of the city’s vibrant business district which has successfully evolved over the past decade to incorporate a strong ‘live, work, play’ ethos and in so doing, attract a burgeoning and complementary residential component.

He says in the commercial property market, where ever-increasing operating (utilities) and rental costs impact on tenants and landlords, the majority of office layouts now favour an open plan environment with boardrooms or small meeting rooms utilised to meet clients and a strong focus on kitchen and staff recreational areas – with some offices even installing showers for cyclists and runners.

“Security of premises and parking facilities also plays an important role, particularly as users in the IT industry, designers, marketing and creative businesses need to cater for being open longer hours.”

Last year (2014) saw considerable progress in projects undertaken and completed. Notable new commercial properties – comprising office space with ground floor retail such as restaurants and coffee bars, include the new landmark skyscraper, Portside, which is almost fully occupied by Old Mutual and First National Bank as well as subsidiaries such as Wesbank, and some smaller tenants.

The new 22 Bree Street, anchored by Bowman Gilfillan, is almost fully tenanted, while the top end of Bree Street has become extremely popular, with landlords receiving frequent requests for restaurant, retail and office spaces. A small owner-occupied property in this same street has been modernised with new finishes and parking added, making it impactful and instantly recognisable. A major renovation is under way and nearing completion at 130 Strand Street - to accommodate a college. Touchstone House, near Portside, where commercial, namely office and ground floor retail units, have been sold via sectional title, is also well under construction.

On Foreshore, a new parking garage has been added to the Standard Bank building, enabling it to offer tenants a reasonable parking ratio, while Roggebaai Place, situated behind SARS and comprising a gross lettable area (GLA) of 12 500, has just been completed with some space still available. In addition, an eight-storey office block at 19 Louis Gradner Street has been refurbished and now incorporates on-site, secure parking.

In the trendy De Waterkant area, in the sought after Hudson building, where Sharon has concluded 90 percent of the leases, a new triple-storey loft has been added. Available to let at a rental rate of R185 per square metre, this exceptional modern unit of 420sqm has high end finishes and a large terrace. Opposite The Hudson, the newly completed, mainly residential mixed-use development, The Mirage, incorporates a retail component with a boutique hotel planned.

“On the fringe of the central city, on Somerset Road in Green Point, new residential developments have transformed the area, where any small building is being sold, demolished and sectional-titled into predominantly residential units.  A new development, 22 Somerset Road, is now complete with tenants moving into this small, modern building with two striking, glass facades.  Also on the fringe, the Kloof Street area remains very popular among restaurateurs and small businesses, however very few new buildings are constructed due to heritage issues, high acquisition costs and the absence of large properties to redevelop.”

Sharon says Sea Point is also being upgraded at a rapid pace. The refurbished ‘Galleria’ which is now renamed ‘The Point’ is an exciting new development with multi-tier retail and P-Grade offices. The building is almost fully tenanted and offers generous, secure parking for both tenants and customers. An apartment building is being built on the corner of Main and Glen Roads, where a McDonald’s outlet has already opened.

“Other major projects are currently under construction in the city centre and immediate vicinity, with special attention given to parking ratios, green or energy saving technology, P-Grade modern finishes and the latest office design, with emphasis open plan and maximising spaces.  In this upper end – P-Grade buildings, office rentals in De Waterkant and new city office developments are approaching the R200 per square metre mark. However, compared to other city centres in cities in Europe or the USA, this is still extremely inexpensive.”

This year a large city block, bounded by Strand, Buitengracht, Bree and Castle Streets, is to be demolished – with heritage properties being retained, and with a new twin-tower hotel development comprising two hotels to be constructed. A further Strand Street development, also encompassing a city block on Rose, Strand and Chiappini Streets, is planned, which will allow for the older, industrial type buildings to be demolished, existing heritage sites to be completely restored and new retail and office accommodation to be developed. Just off Roeland Street new premises for eTV are well under construction.

The Netcare Christiaan Barnard Hospital is making good progress and when completed will be an impressive, high-technology private hospital of note. Earthworks for expansion of Cape Town International Convention Centre have begun, with the increase in space set to yield considerable spin-offs and rewards for Cape Town and surrounds.

Sharon adds that the site opposite Portside, spanning Bree, Loop and old Hans Strydom Roads is undergoing planning and could be developed during 2015, while a new development on Erf 156 in Roggebaai will leave no open sites vacant on Foreshore. “Planned to commence in March this year, this will be sold via sectional title with demand anticipated from Cape Town buyers as the city centre has very little saleable office accommodation.

“In Sea Point, several new developments – to date mostly offices, are planned along Main and Regent Roads, which demonstrates that developers see great future potential in the area. In the V&A Waterfront, the newly constructed Watershed, Allan Gray building and the new converted Silo’s will be notable additions to Cape Town. A new residential complex, with units available to rent, is also almost complete.”

Sharon says that current office vacancies in the central city show that buildings with poor parking ratios, expensive to run air-conditioning systems or in need of upgrading have the highest vacancies and lower than average rental rates. “The advice for landlords is that if they don’t maintain, upgrade and spend a fair amount of capital expenditure on their properties on an ongoing basis then large percentages of the buildings are likely to be downgraded from A to B level and result in vacancies or remain vacant. To rectify the situation exteriors need revamping, old offices require gutting with high energy consuming air-conditioning units replaced, new lifts installed and foyers re-floored and redecorated.

“Parking requirements are high on any tenant’s list of priorities, and certain properties in good positions within the central city are remaining vacant due to offering parking ratios below two to three per 100sqm. In addition, monthly parking rentals are starting to peak up to R1500 per month plus VAT for reserved bays.”
For further information contact Selwyn Sharon of Pam Golding Properties on 021 4232150 or 082 825 3231 or email selwyn.sharon@pamgolding.co.za.

Luxury apartment development in Menlyn launched

The Regency apartments put to market by Pam Golding Properties

The City of Tshwane has undergone immense growth in recent years, spurred on by growing investor confidence in the area, as well as by considerable investment in infrastructure projects by the local government, says Executive Mayor of the City of Tshwane Metropolitan Municipality, Mr Kgosientso David Ramokgopa.


The Regency

Commenting on The Regency, a luxury residential high-rise that is being developed in Menlyn and marketed by Pam Golding Properties, the Mayor notes that the positive growth in the city and its local economy is serving to further enhance the city’s status as South Africa’s capital.

Mr Ramokgopa suggested that Tshwane’s swift development is also causing the boundaries of Pretoria and Johannesburg to become increasingly blurred. He predicts that the two regions will in time become one immense African ‘super-city’, and the continent’s undisputed powerhouse. “I am gratified that my local government has been able to assist in this process and I am pleased to see that our Special Development Framework of 2013 has been instrumental in injecting new dynamism into the local economy,” he added.

“One of Tshwane’s most rapidly developing nodes is unquestionably Menlyn. People speak of Menlyn as becoming Pretoria’s new Sandton. I believe that it is eventually going to be larger than Sandton. Menlyn has a highly vibrant mixed economy. Financial institutions, law firms and a range of other professional service providers, as well as retailers, hoteliers and residents, are flooding into Menlyn,” he adds.

“The creation of The Regency, the first luxury high rise to be developed in the area, shows that residential development investors see the enormous potential of Menlyn as a mixed-use space. This is exciting news for Menlyn, as well as the greater City of Tshwane. We are therefore delighted that Key Spirit Developments, which has been responsible for the development of a number of outstanding buildings in the Tshwane region, has taken the decision to create this quality urban lifestyle space for which there is a great need.”


The Regency - lobby

The Regency, which was brought to market by Pam Golding Properties at an official launch event on 18 February, is being built in the Ashlea Gardens area close to Menlyn Maine and is due for completion in 2016. Pam Golding Properties is marketing 146 apartments priced from between R995 000 and R2.297 million off plan. The launch of the residential development was attended by ambassadors and high commissioners representing several governments, dignitaries, developers, investors and other high-profile individuals from the property industry.

“It is Pam Golding Properties’ considered view that the City of Tshwane Metropolitan Municipality’s immense efforts to promote development, as well as its substantial spend on infrastructure in recent years, have greatly assisted in stimulating growth in the Tshwane region as a whole, and in nodes such as Menlyn,” says Dr Andrew Golding, chief executive of the Pam Golding Property group. “We commend Mr Ramokgopa and his municipality for their immense efforts to build a first-class capital city.”

The proposed R2,6 billion bus rapid transit (BRT) system with two stations within the Menlyn area and three major road improvement projects, are just a couple of the examples of local government efforts to ensure the area’s future, according to Dr Golding.

Dr Golding said that The Regency, which is designed by award-winning architectural firm Archactive International, is a new residential concept for Menlyn; a luxury space offering residents vibrant urban living with every amenity and convenience right at their fingertips.


The Regency - apartment

Retha Schutte, Pam Golding Properties’ regional executive Pretoria, says that she is pleased, but not surprised, at the high level of interest that has already been shown by investors in the apartments, a large number of which have already been secured.

“The exclusive apartments, each of which have their own balconies, offer a wide range of luxury property options and are a fine investment opportunity,” she points out. “They are centrally situated with easy access to offices, shopping, entertainment, as well as the M1 freeway and the Pretoria city centre for those who commute. Best of all perhaps, is the fact that they may be secured by any investor or homeseeker who qualifies with a deposit of just R10 000.”

According to Schutte, homeseekers from many walks of life have made enquiries about the apartments, including executives, professionals, the parents of students, as well as foreign missions and local and international companies looking to accommodate their staff.

“Buy-to-let investors have been particularly interested in the opportunities that The Regency offers, including some international investors from overseas and other countries in Africa. There is a strong demand for luxury short-term rental accommodation in Tshwane, which is fuelled by the large number of embassies and trade missions in the region. These institutions are often on the lookout for convenient, quality accommodation for their staff members. For many The Regency fits the bill,” she asserts.

“Buy-to-let investors have also had their interest piqued by an attractive investment product that is being offered by the developer,” says Schutte. “This is a fully furnished and equipped apartment with a 7% guaranteed rental for two years, with two dividend payments throughout the year. In addition, there will be no levy payments for the period and the repair and maintenance will be the responsibility of the developer.”

Those who secure the one- and two-bed apartments early will have a range of quality fittings, finishes and appliances to choose from. The building has been designed with the environment and the insecure South African power grid in mind, a solar system reducing electricity costs by some 30 percent and sustaining essential systems in the event of power outages.

Schutte says all of the residents of The Regency will have access to concierge services, restaurants, a pool and pool deck and secure basement parking. A complete fibre-optic solution will also be provided. Outstanding 24-hour security and sophisticated security systems will provide peace of mind for residents.

“The development points the way forward for residential accommodation for Menlyn, which by all accounts has a bright future as a residential property market. Pam Golding Properties is privileged to work with Key Spirit Developments to market the outstanding properties that are on offer,” concludes Dr Golding.

For further information please contact Retha Schutte of Pam Golding Properties on telephone 012 365 2887 or email retha.schutte@pamgolding.co.za.

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