Emira Property Fund’s The Bolton in Rosebank will start welcoming residents early August to its stylish new apartments.
The chic urban lifestyle offered by The Bolton is the result of Emira’s value-enhancing conversion of its Rosebank office property assets formerly occupied by Sasol into a contemporary residential apartment development.
The conversion caters to the demand for residential accommodation from working millennials in this bustling business node. The Bolton responds to an undersupply of residential accommodation in the area with a premium address in an excellent location, competitive rentals, high management standards and a compelling array of popular amenities.
Ulana van Biljon, Emira Chief Operations Officer, reports that the conversion solution and design are excellently matched to the buildings. Construction on the ZAR200m project began in September 2017 and it has progressed seamlessly, including the addition of two new floors using a special light-weight solution.
Van Biljon also confirms that JSE-listed REIT’s strategy for the property is proving to be right on the money.
“The Bolton is receiving strong demand from go-getting young professionals between 25 and 35 years old. Leasing is already ahead of budget,” says Van Biljon.
The Bolton offers a mix of bachelor, one- and two-bedroom apartments, which range in size from roughly 30sqm to 60sqm. The stylishly finished apartments include Bosch stoves and ovens and black-out blinds on all windows.
The next batch of 39 apartments will be available at the end of August 2018.
Further batches will be released at a rate of about 40 a month, with the final instalment coming to market in December 2018.
The Bolton has its own pool and braai area, an 18-seater cinema, free fibre WiFi, boardroom, laundry facility, secure basement parking and biometric access control.
“The Bolton residential conversion serves to repurpose and reinvigorate the former office buildings and the project furthers our strategy to rebalance the portfolio out of the office sector. We are confident that this is a much better use of the assets, and the positive uptake of apartments and good market response to The Bolton confirms this,” concludes Van Biljon.