By Paveshan Govender, Commercial Sales and Leasing Executive for Galetti

Located in the northern suburbs of Johannesburg, Rosebank is undoubtedly one of the hottest business districts in South Africa right now. Ongoing development in the area continues to attract some of the most prominent names in business and has given this multi-cultural district a welcomed facelift over the years.

From tastefully-designed office spaces and co-working spaces to mixed-use buildings, sought-after restaurants, bars, art galleries and high-rise apartment blocks, Rosebank is leading the way and showing the likes of Sandton, Jo’Burg and Cape Town central business districts (CBD), what it takes to bring tourism, workers and former city dwellers back after the COVID-19 pandemic.

Stats and facts

Rosebank’s growing popularity is clearly underpinned by the growing demand for commercial property rentals and some of the highest rental prices achieved across the country. The average price per m2 in Rosebank ranges between R180 to R220 per m2  – a big jump from Sandton’s R150 to R180 per m2 for A grade space.

Added to this is the recent trend around ‘sizing up’. In 2020 and 2021, majority of tenants were in search of properties under 500m2 . However, this year we are seeing growing enquiries for spaces in excess of 1000m2.

Today, the likes of famed tenants Coca-Cola, Sappi, Standard Bank and the impressive revamp of the Firestation (now housing co-working space Workshop17) have all helped put Rosebank on the map. And most recently, we moved our head office from Melrose Arch to Rosebank.

What makes a CBD a success

Every city has a CBD but not every city has a CBD that people want to frequent.  Govendor shares a host of key factors that go into the making of a successful CBD and what other CBD’s can learn from Rosebank:

1. Safety and security, above all else: While the municipality is largely responsible for the upkeep of an area, the private sector still plays a key role in the upkeep required to make a CBD great.
2. Cleanliness and building upkeep: The upkeep of buildings and cleanliness of an area is key – particularly when it comes to promoting tourism.
3. Convenience and access:Rosebank’s recipe success involves older established shopping districts combined with newer eclectic attractions that are easy to frequent by foot, public transport or car.
4. CBD disruptors: Rosebank continues to break the mould by delivering new and exciting concepts. It’s home to a host of Green-star rated buildings, the architecture and design of new buildings are in a league of their own and the likes of The Pantry (by Marble) have reinvented the traditional petrol station and convenience store into something that most of us have never seen before.
5. Co-working works:The likes of WeWork and Workshop 17 are bringing people back to Rosebank CBD. Whether you’re a creative or an accountant, there’s something for everyone thanks to flexible rental options.
6. Mixed-use developments that hit the mark: The development of the new Oxford Parks precinct has led to a migration by multinationals from Sandton CBD to Rosebank. Oxford Parks is home to likes of Anglo Gold, BP South Africa, Arup, and Life Hospital. It also boasts an array of retail outlets and is becoming known as the premium grade mixed-use precinct of the northern suburbs.
7. Exciting residential developments and ongoing investment:Developers such as Vlaming, The Capital Group and Redefine, are all playing a part in bringing people – particularly millennials and Gen Z’s back to the city. The likes of The Monroe, One Rosebank, are stellar examples of city living concepts.

Interested in renting or buying in Rosebank? Chat to our team!