Jo’burg inner city precinct has gained the confidence of Atterbury Property Development Company who is involved in mixed use development and three upmarket residential projects in Braamfontein.
Trafalgar Property Management’s managing director, Andrew Schaeffer, is of the opinion that the residential rentals in the previous three years in Braamfontein have been the highest yet. With the development of quality schemes such as Isibaya and College House, the contribution of Atterbury Property is tremendous towards urban renewal in areas such as Berea, Yeoville, Braamfontein, and Hillbrow of Jo’burg's inner city. Schaeffer believes Atterbury’s outlook for the long term is to create places that are better to work, live and play and that can sustain into the future.
95% of the College House tenants are professionals working in surrounding offices. Schaeffer also thinks that with an insatiable demand for quality accommodation close to work, the residential property market currently is very strong. In fact, he does not foresee in all likelihood before 2010 any drastic changes in the trend. This is great for owners of investment property.
Both Isibaya and Mapungubwe Apartment Hotels were sold out earlier in the year. This accommodation concept is a combination of 91 hotel apartments forming a pool of income. 37 residential apartments in addition to the already existing ones do not take part in the pooling of income as they are not a part of the offering of the hotel. Isibaya however is on long term residential lease.
Clearly, people looking for permanent accommodation find Jo’burg inner city enormously appealing, according to Coenie Bezuidenhout of Atterbury Property. It is not just the urge to live closer to one’s workplace, but also to want to feel the magical vitality 24 hours a day in a big city.
The big city life attracts people from all walks of life. If a city can be home to everyone regardless of their disposable income then that is a city to be proud of. Jo’burg is such a city where people like to work, live and raise a family as its safe and secure. It’s affordable for everyone. The city does not discriminate as to whether or not someone is rich or poor. It accommodates one and all. It’s also a city where there are a lot of opportunities for anyone who wishes to make a career in any of the big corporations that are situated there.