INVESTEC Property has invested R500m into the Rosebank node with its acquisition and redevelopment of The Firs shopping centre, offices and The Hyatt hotel.
The refurbishment will coincide with renewed construction activity linked to the soon-to-be-built Rosebank Gautrain station and the recently approved Rosebank Urban Development Framework.
Managing director, Sam Leon, asserts: “Rosebank is evolving into a higher-density, mixed-use transport node with a keen focus on pedestrian and street-level interaction.”
The renovation will include 5 500 sqm of speciality retail and restaurant areas, and
10 000 sqm of premier office space. A key attraction of the redevelopment will be the restaurant piazza situated at the centre of The Firs.
The R623m second phase of The Zone’s development will also bring additional retail, loft offices and a 160-room hotel to the area. In addition, the Tiber Property Group is developing a six-storey office block, including showrooms and cafés, on Oxford Road opposite The Hyatt.
Leon says: “The combined effect is a consolidated, thriving mixture of uses within a single, walk-able node that appeals to international business travellers, tourists, shoppers, residents and professionals working in the area.”
