Originally Bryanston was a residential neighbourhood in what was known as the ‘Mink and Manure’ belt of Sandton, so nicknamed after the wealthy equestrian land owners who were prolific in the area. The region has been developed over the last 70 years with cluster complexes and sectional title developments springing up in later years along with a number of office parks.
Since its early beginnings in the 1940s, the northern Johannesburg suburb of Bryanston has always been sought after among residential property investors. More than 70 years on and the area has retained its appeal, seen solid increases in its property values, and now appeals to both residential and commercial property investors.
Chris Renecle MD of Renprop, says that The Hub, a mixed-use precinct set on a prime 22 000m2 site on Bryanston Drive between William Nicol and Main Roads, is Renprop’s answer to the spike in demand for both commercial and residential space in the Bryanston area. This mixed-use precinct will consist of two apartment developments, The Hub and The Edge, as well as an office node called Domain Office Park.
Renecle gives a breakdown of what the mixed-use precinct will include, as well as an overview of what is currently happening in the Bryanston property market.
Designed with upmarket finishes, the 120 units in the residential apartment block at The Hub on Bryanston Drive range in size from approximately 50m² to 180m². Communal facilities include a swimming pool and clubhouse. The apartment buildings will also have basement parking and storage facilities for residents as well as a concierge and conference facilities.
Russel Peach, Renprop Residential Projects Sales Manager, says that these apartments have been snapped up, with 80% of the development already sold out. “We currently only have a limited number of two-bedroom, two-bathroom units available in both Phase 1 and Phase 2,” he says.
The continued strong demand for executive accommodation in the Bryanston area will see Renprop launching The Edge later this year, a sectional title apartment development within The Hub precinct.
“The Hub and The Edge accommodate both investment buyers as well as those who are looking for executive apartment accommodation in Bryanston,” says Renecle. “The Bryanston/Sloane precinct is fast becoming the new hot business address for many big corporates, and as such, executives are looking for accommodation close to their place of work. Apartments at The Hub and The Edge cater perfectly to this demand.”
From an investment perspective, these developments also offer a great opportunity to capitalise on the strong rental demand. “Due to current market conditions and the unparalleled demand for residential accommodation in the area, we believe investors at The Hub and The Edge have the potential of realising a solid yield alongside strong capital appreciation,” says Renecle.
Interested buyers can secure an apartment at The Hub from approximately R1,8million. Pricing on apartments at The Hub is currently still at 2016 rates, offering the best value for money in the area at approximately R25 000/m2.
The Hub on Bryanston Drive will include a commercial node comprising 12 500m2 of office space, which is the only sectional title office block for sale in Bryanston. Called Domain Office Park, Renecle says that this commercial development will cater to the current shortage of sectional title office space for sale in the area.
Ideally positioned on the corner of Main Road and Bryanston Drive, Domain Office Park will consist of individual sectional title units ranging in size from 143m2 – 1 800m2 although different configurations and flexible sizing can be accommodated in accordance with a purchaser’s specific space requirements.
One of the design features of the Domain office Park is the penthouse offices, which will boast patios with exceptional views. This AAA-grade sectional title office space is available from approximately R28 000/m2 excluding VAT.
Aside from the prospect of capital gains based on the performance of Bryanston property values over the last few years, the positioning of the Domain Office Park will provide businesses with excellent brand exposure to passing traffic on the major northern routes. “The Domain Office Park provides a great investment opportunity for those companies looking to purchase their office space or for investors looking to buy commercial space,” says Renecle.
Residential property sales:
While the Bryanston area used to be synonymous with large stands and stately homes, modern expansion of the suburb has seen the larger properties giving way to a number of developments offering smaller homes in line with modern living requirements and buyer demand.
Sectional title apartments priced between R1,2million and R1,8million are showing the most movement in the current market. The demand for townhouses in Bryanston remains strong as the main supply of residential properties in the area is mostly made up of large freehold homes or sectional title apartments.
When it comes to freehold properties, cluster homes priced below R3,5million remain a popular choice. Family homes set on large stands that the area is known for that are priced between R3,5million and R4,5million are the most popular among buyers currently.
There is a strong demand for rental properties in Bryanston due to its great positioning close to the Sandton and Sloan business districts, a range of amenities and good access to major road networks. The rental market is buoyant, with sectional title apartments and cluster homes that rent for between R10 000 and R16 000 /month being in the highest demand. This strong demand, particularly for executive accommodation in the area, bodes well for investors at The Hub and The Edge.
Generally rental apartments in the Bryanston area range between R12 000 – R14 000/month while full title freestanding homes are available from R15 000 /month upwards, depending on size and location.
Renecle concludes by saying that Bryanston has a lot to offer both commercial and residential investors, who can look forward to strong appreciation over the long term, based on the historical performance of the suburb’s property market.