Jhb Rosebank gets mixed-use project

A new mixed-use development is set to be constructed in Rosebank, Johannesburg, after the local council made some concessions. Stewart Shaw-Taylor, global head of Standard Bank Real Estate Investments (SBREI), says that Standard Bank assembled a site encompassing 30 Baker Street, Lindsay Saker and the Sanlam Arena for future redevelopment. The local council has since relaxed height and density restrictions for the Rosebank precinct and has approved SBREI's high-density office and retail development on the southern side of the precinct.

"We are ready to proceed to the next level of our development phase," says Shaw-Taylor.

"There is no doubt that the Gautrain station development has injected the much-needed stimulus to revitalise the precinct. This impetus is also visible in our dealings with the local council. There is a clear understanding that developers and the council have to work closely to ensure that the precinct benefits. As part of the approval process SBREI met with local residents to discuss their plans and the consultation process has been open and transparent."

He adds that SBREI is in the process of securing a suitable tenant to kickstart the building of the office component of their 125,000sq m mixed-use development.

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