“We identified Rosebank as an area poised to revitalise and acquired the Firs and Hyatt complex, central to the node, some four years ago,” explains Sam Leon of Investec Property. “The quality and uniqueness of the development is underscored by the strong leasing response, notwithstanding the current economic climate. We certainly believe that this project will become a key landmark in area.”
“We are pleased to be involved in the redevelopment of this vibrant node, which we see strengthening further as a number of projects in the area come to fruition,” says Stewart Shaw-Taylor, global head of Standard Bank Real Estate Investments, which is also responsible for a proposed large mixed-use development on the Southern end of the Rosebank node.
A key attraction of the redevelopment will be the new restaurant piazza at the heart of The Firs, explains Ollie Flynn of Investec Property. Rosebank dining institutions The Grill House and Katzy's provide the gateway for the new piazza where Doppio Zero will join them - all highlighted in a modern, light and open design. The restaurant piazza will provide customers with an enhanced upmarket dining experience and a variety of menu options.
“The Firs and Hyatt complex redevelopment and particularly the restaurant piazza will provide synergies with Rosebank's new identity as a mixed-use transport node with a keen focus on pedestrian and street-level interaction, providing a meeting point for this modern village,” explains Flynn.
The redevelopment of the Firs and Hyatt complex is superbly timed to coincide with the substantial urban renewal, spurred on by the construction of the Gautrain station, new projects currently under construction by Tiber and Standard Bank Real Estate Investments and the redevelopment of many of the buildings owned by Old Mutual in the precinct. In addition, South Africa's leading listed retail property fund, Hyprop has a substantial presence in the area.
