Parktown is wonderfully central: it lies within walking distance of the Joburg CBD, is home to some of the country’s most famous private and public institutions and has an extremely diverse demographic population.
“We have the Brenthurst Hospital and KPMG based here,” says Tania Rebolo of Lencar Exclusive Properties, who has guided many property transactions in Parktown, specialising in sectional titles.
“Parktown is a beautiful, wellestablished suburb and is close to all amenities, highways, shops, schools, hospitals, as well as universities.”
Many students attending Wits and the University of Johannesburg are looking for student accommodation. For an investor seeking rental income, this is an ideal location in which to invest. - Tania Rebolo, estate agent Lencare Exclusive Properties
Picture: Supplied
There is a consistent demand for accommodation from out-of-town students at Wits University. Sectional title units close to the university and the other leading institutions are in demand, says Rebolo.
“Sectional titles here sell extremely well. Parktown is an active area to work in, especially in the sectional title market.” Parktown appeals to a range of potential purchasers, from students and professionals looking for lockup-and-go units to families needing a large garden and spacious accommodation, says Rebolo.
Investors would be advised to secure property close to the local universities and hospitals to ensure good tenant placements. “Many students at Wits and the University of Johannesburg seek accommodation. For an investor looking for rental income, this is an ideal location.”
The area boasts lovely options for prospective purchasers, including older sectional titles buildings and older free-standing homes on large erfs and with distinctive period architecture. One needs only to look at Parktown’s history to get a good idea of its rich heritage and huge range available.
The area was originally established by the Randlords, the gold mining magnates who acquired their fortunes prior to or during Joburg’s early days and who built themselves mansions.
Some of those built at the turn of the 19th century are still standing, including Brenthurst and Bishopskop (both built in 1904) as well as Emoyeni (built in 1905) and Hazeldean Hall (1902).
Some mansions and period homes were demolished during the construction of the Wits Education Campus, the Johannesburg General Hospital and the M1 highway.
The remainder are overseen by the Parktown Westcliff Heritage Association. The average sale price for the past two years has been around R4million, says Rebolo.
“The higher priced properties take a while longer to sell as they are generally free-standing homes where security is always a concern.” Drive around to get the lay of the land first as Parktown has lots of variety, says Rebolo. “Take your time. Make sure the street in which you are looking to buy suits your needs.”
Eddy Khosa’s favourite places and things to do
Parktown is a beautiful leafy suburb with all the facilities necessary for a comfortable lifestyle for children and adults. There’s a terrific park next to Netcare Milpark Hospital, which is one of the area’s landmarks, as well as many schools. Leading organisations based here significantly raise the area’s profile and include Wits Business School, Milpark Business School and Transnet Freight Rail. - Eddy Khosa, resident
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1 44 on Stanley
This is a favourite hangout. There are lots of restaurants and it’s up to an individual to take their pick. Should you like seafood or curries, everything’s here. 44 Stanley Avenue, Milpark.
44 On Stanley is a favourite hangout. Picture: Supplied
2 Parkview Golf Club
It is well-maintained and popular with residents and visitors. There’s an amazing driving range. Corner Wicklow and Emmarentia avenues, Parkview. Established 1916.
3 Mike’s Kitchen
They specialise in steaks which I can highly recommend. The service is also excellent. 15 St Andrews Road, Parktown. 0114842688
4 Rand Steam Shopping Centre
This is a new centre within a short distance of Parktown that has all major local convenience stores, including Pick n Pay, Clicks and Woolworths, and nice restaurants. Corner Barry Hertzog Avenue and Napier Road, Richmond.
5 Olives and Plates
Casual and offers vegetarian options. 21 Eton Road, Parktown. 0117263414 6 Kirsten at Wellington’s Exquisite dining. 22 Wellington Road, Parktown, 0116431310