December 15, 2006
By Anish Abraham
THE face of Rosebank is set to change rapidly ahead of the Fifa Soccer World Cup in 2010, with the Old Mutual Property Group announcing a R623-million mixed-use development for the precinct.
Work on the development is set to begin early next year. It is on a site bordered by the Hyatt Hotel, The Firs and The Zone @ Rosebank shopping centres and will consist of retail space, a 160-room hotel, a four-level basement parking garage and loft offices.
"The development is part of a phased precinct strategy, while also taking advantage of the opportunities presented by having a Gautrain station as part of the offering," said Brent Wiltshire, a business development executive at the company.
An impression of the R623 million mixed use development planned for Rosebank
Pedestrians will be able to cross to the underground Rosebank Gautrain station, which is currently being built, through entrances in Tyrwhitt Mall and in front of The Zone.
The Old Mutual plans are the latest in a string of upgrades and new projects being considered for the area, with The Firs being upgraded by owners Investec and a proposed redevelopment of The Galleria by the Catalyst Group.
"Our intention is to upgrade the area in conjunction with Investec and Catalyst to encourage pedestrian flow, creating an urban precinct that triggers the uplifting of Rosebank in general," Wiltshire said.
Even though work has yet to start on the mixed-use development, the Old Mutual Property Group is already looking ahead, stating that future phases could feature a 114-unit residential tower block.
"The upmarket residential apartments in a future phase will complement the existing apartment blocks in the area. They will help cater for the anticipated change in Rosebank as a result of the introduction of the Gautrain station in Oxford Road," Wiltshire explained.
The new development
According to Debbie Caplin, a project leader at the group, five buildings owned by Old Mutual in Rosebank – Admirals Court, Rosebank Boulevard, Oxford Corner, Knightsbridge and the former Fournos Bakery building – are going to be demolished to make way for the new development.
Tenants have already been served with notices to vacate.
The demolitions will follow a R20-million refurbishment at The Zone, as a key part of the work is a reconfigured entrance to the underground parking from Oxford Road to allow for two entry lanes, especially in light of the traffic disruptions and diversions in place because of construction of the Gautrain station.
The new complex has been designed to extend the feel of The Zone, while the newly established hospitality group, LEH, will be responsible for running the boutique hotel to be located in it.
"The aim is to create a lifestyle centre that satisfies a combination of living requirements and complements nearby developments. The ground floor retail area will offer homeware, fashion and restaurants opening into a courtyard. The first floor will allow for restaurants and extend the fashion mix into The Zone," Caplin explained.
Loft office units above the retail area will offer upmarket studio environments and will be targeted at professional practices and clothing designers.
"It is hoped to complete construction of the basement parking in the second half of 2008 and the retail and loft offices by mid-2009. The hotel is scheduled for completion in April 2010," she said.
Permission to use web site material
Publishers may use material from this site free of charge, as long as:
- Credit is given to either the "City of Johannesburg website
(www.joburg.org.za)" or to "Johannesburg News Agency
(www.joburg.org.za)";
- If the article is used online, a link is provided to the original
article on this website;
- The name of the article's author is acknowledged;
-
The webmaster is informed of how and where the material is used (fill
in this brief online form).
Johannesburg News Agency is operated by BIG Media at 011-484-1400 |
