Rivonia property market continues to evolve

The Rivonia property market has entered a new phase which will leave it more commercialised with greater densities and a much changed residential character.

That’s the view of Chris Reid, principal of leading local agency of Homenet Leck Reid, who has traded in the area for more than 30 years.

“We are seeing the beginning of the process with the active sale and refurbishment of existing office buildings in and around the Rivonia Boulevard, against the background of a freeze on the conversion of residential properties for business use,” he says

“With a new town planning blueprint reportedly due to be issued shortly, fresh direction will be given to the market, probably resulting in changes to height restrictions and bulk factors, which could lead to further expansion of the areas’ commercial zones.”

Reid says areas fringing both sides of Rivonia Road and between 3rd Avenue and the freeway towards Sunninghill are expected to continue to expand as commercial nodes. “Also, the existing Rivonia Mall is not satisfactory for either residents or retail business at present and that too can be expected to undergo transformation.

“The question is, where does this leave the residential component of the area which was known for its countrified ambience and quiet, charming residential areas?”

The short answer, he says, is that greater densification for office development is likely to apply to residential areas as well. The grand old stand-alone homes are likely to become more rare in years to come, with cluster and sectional title development coming ever more to the fore.

“Within this mix of influencing factors there are a number of other unresolved issues. The large grounds currently occupied by the Rivonia Primary School between 11th and 12th avenues, east of Rivonia Rd would lend themselves ideally to commercial development, but for obvious reasons conversion is controversial.

“Then there is the question of a new overpass linking Rivonia with Sunninghill, avoiding the current congested Rivonia Road / Witkoppen Road interchange.

This was mooted several years ago, but the project was put on the back burner. Reports are that it may now be resurrected.

“And there is also speculation that, in time, a Gautrain station could be earmarked for Rivonia, again influencing residential property demand and prices. Taking a five to 10-year view therefore, Rivonia is in for major change, presenting both opportunities and frustrations for all stakeholders.”

Article from: www.homenet.co.za