In the area 1 - Rosebank

ROSEBANK’S GRAND OLD HOMES OFFER GREAT INVESTMENT OPPORTUNITIES SAYS STEWARD

Of all the Cape Town southern suburbs to be transformed by the last six years of the property boom, Rosebank is quite possibly the frontrunner, says Lanice Steward, MD of Anne Porter Knight Frank, the firm which for some two years now has had a close association with Knight Frank of London.

What is more, says Steward, the process is ongoing – there are still many Rosebank homes that have the potential to be beautifully upgraded and modernised.

“The effect of this process can be seen in the prices,” said Steward. “In 2002 we were selling three or four bedroom Rosebank homes for an average price of R700 000. Today it is quite common to see such homes on the market, after modernisation, for R3 to R5 million.”

One such home, she said, has just come onto the market with a price tag of R3 995 000. A double storey, it has no less than 250m2 of floor space and has three bedrooms, separate living and dining areas, servants’ quarters and such appealing Victorian features such as sash windows, high ceilings, bay windows and cast iron fireplaces.

The current owners, says APKF agent, Angela Magner, have spent much time and money on totally modernising the interiors but they have done so without detracting from the building’s appeal. All the woodwork has been carefully restored and in most cases painted white. The kitchen now has granite countertops and a central serving island. One bathroom now has a freestanding Victorian-type bath and sophisticated travertine wall tiling. The interior colour schemes are a combination of pale, soothing colours.

“The sheer good taste of this home has to be seen to be appreciated and the good news for buyers is that with Rosebank continuing to be so popular on account of its closeness to UCT and good schools, to the CBD, Table Mountain, Kelvin Grove and Newlands, this is one area in which prices continue to see growth. I really have to commend this home as being one which, in my view, has it all, including capital growth potential,” said Steward.

Article by: www.anneporter.co.za