Opened in May this year, Empire Executive Apartments & Hotel (EAH) situated at 177 Empire Place in Sandhurst, Johannesburg, is the first hotel to be built in Sandton in four years.
Penthouse apartments at the Empire Executive Apartments & Hotel in Sandhurst offer panaromic views of the Sandton Skyline with rentals priced from R8 990 per night.
The property offers luxury accommodation at affordable pricing that is geared towards the business traveller, explains managing director of EAH, Marc Wachsberger.
Executive apartments are proving to be an affordable alternative for business travellers both locally and internationally, and companies have increasingly turned to this option – often preferred for convenience, privacy and comfort – over footing pricey hotel bills, he explains.
What is fascinating about this development is that not only can you have the comfort of living in a hotel, but you can also have the option of living in an apartment within the property - click here to read more.
Even more interesting is that while there are standard executive apartments, this property offers eight penthouse apartments boasting amazing views of Sandton City and the northern suburbs on one end.
Wachsberger explains that there are three penthouse apartments with two bedrooms measuring 230 square metres, three penthouses with three bedrooms measuring 260 square metres and two penthouses with four bedrooms measuring a massive 300 square metres.
He says the penthouses are designed for the discerning business or leisure traveller who is accustomed to the best in life.
A beautifully proportioned four bedroom home designed by award winning architect, Johan Slee, with elegant Palladian influence in Sandhurst, is selling for R38 million. Click here to view.
“They are well suited for families as well, offering panoramic views of the Sandton Skyline, and they are very modern, sophisticated and truly luxurious,” he says.
Furthermore, he says they feature extra length king-sized beds, percale linen, complimentary Wi-Fi (limited to 400MB per day) and complimentary laundry service.
“The penthouses are designed as an open living space, the tasteful paintings and artefacts add to the ambiance.”
Oversized windows allow for the natural light to shine through, and parquet flooring is displayed throughout the whole living space.
All penthouses have a study, open-plan lounge and dining room with table that seats 10 people. They also have a fully-equipped kitchen and scullery, stove with oven and extractor, washing machine and tumble dryer, explains Wachsberger.
Asked on rates, Wachsberger says a three bedroom penthouse is priced at R8 990 per night while a four bedroom penthouse apartment is priced at R11 990.
A standard room at the hotel costs R1 290 per night while a three bedroom apartment will set you back by R4 070 per night.
Sandhurst, known for being the location for wealthy individuals, also making it the most expensive suburb to buy into in Johannesburg is home to the largest portion of South Africa’s Ultra High Net Worth Individuals (UHNWIs) according to the SA 2013 Wealth Book by New World Wealth.
Sandhurst has 38 UNHWIs which accounts for the largest proportion of Johannesburg’s UHNWIs and it also has the highest UHNWI population density of any suburb in the country (5.9 percent), according to the report.
Read the article here.
With this in mind, I couldn’t help but wonder if these new luxury penthouse apartments with stunning views will negatively impact the rental market in Sandhurst.
All penthouses have a study, open-plan lounge and dining room with table that seats 10 people. They also have a fully-equipped kitchen and scullery, stove with oven and extractor, washing machine and tumble dryer, explains Wachsberger.
According to Lynda Greef, Pam Golding Properties (PGP) area agent, they do not expect 177 Empire Place to negatively impact the rental market in the rest of Sandhurst at all.
She explains that a 30 square metre apartment within this property can cost as much as R77 500 per month.
“This places the development in a super-luxury, short-term rental category for which there is certainly a niche in Sandhurst.”
However, she says other home seekers in the area are rather looking for longer-term rentals in one of the other developments or homes in the area.
Rupert Finnemore, PGP Hyde Park joint area manager, explains that due to the exclusive nature of the suburb, grand homes in the area with their large properties are often sold for R40 million and can fetch as much as R60 million.
“A Sandhurst address is a prestigious one and properties in the area are sought after; the suburb which is more than 50 years old, has for long been one of Johannesburg’s most highly regarded suburbs.
“The area has lost none of its shine over the years and remains home to many of the city’s elite,” he says.
Although it is situated on the very doorstep of Sandton, and townhouses have become a more prevalent feature of the area in recent years, many of the properties in Sandhurst have remained of substantial size with well-established gardens.
This has ensured that the area has remained low density and a serene escape from the humdrum of the city, notes Finnemore.
Oversized windows allow for the natural light to shine through, and parquet flooring is displayed throughout the whole living space.
Furthermore, he says Lightstone data reveals that 56.89 percent of dwellings are sectional title and 34.30 percent are freehold while 8.81 percent are situated in estates.
This diversity in property types ensures that there is a wide range of different property options available for those interested in acquiring property in Sandhurst.
According to Lightstone, the average price of a freehold home in the area increased from R11 339 million in 2012 to R12 923 million in 2013, while sectional title properties increased in value from an average of R1 820 million in 2012 to R1 863 million in 2013.
“Convenience, tranquillity and exclusivity - Sandhurst has so much to offer and we expect it to remain one of Johannesburg’s most sought-after suburbs into the foreseeable future,” according to PGP. – Denise Mhlanga
