The development of the Fourways precinct is likely to provide a massive boost to property values in surrounding areas like Lonehill.
With the announcement last year from Accelerate Property Fund that the development of the Fourways Precinct in Fourways, Johannesburg would be transformative to the area, property values in surrounding suburbs are set to benefit. The development will create a world-class shopping and business destination and is also earmarked to be the new financial hub in Johannesburg.
“We are extremely excited about this development and improvement project, which will attract business people from across the continent and internationally. With Sandton and its surrounds being saturated and traffic a nightmare, the Fourways Precinct is well overdue and will benefit the value of property sales and rentals in the surrounding areas, with one of these suburbs being the areas of Lonehill and Beverley”, says Ashe Thaver from Jawitz Properties Sandton.
Lonehill is also located just 10 minutes from the innovative Steyn City, the latest commercial and residential development in Johannesburg where many businesses are setting up headquarters, which is another attraction for buyers.
Properties in the area range from R750k to R1m for sectional title developments and R2.5m to R5m for freestanding homes, which account for more than 35% of the properties in the area. The Lonehill / Beverley area remains popular for corporate rentals due to high safety and Uber-ability to business hubs such as Fourways, Sandton and Steyn City. Ashe says, “We have seen a consistent annual rise in property prices over the last 10 years and expect this trend to continue. It is also interesting to note that statistics reveal that more and more buyers are young adults, which reflects its urbanisation and growing status as a business centre.”
Originally named after a lone koppie in the area, Lonehill was developed as a model for quality community living and has since matured into a sought after suburb that is known for its security, village lifestyle and highly active Lonehill Residents Association. “It is known as one of the safest suburbs in Johannesburg and the proactive and effectual Residents Association make security and safety a priority. There are 403 safety guards that patrol between the estates and it’s one of the few places where it is still safe to walk around alone at night,” explains Thaver.
The suburb of Beverley, which consists of three streets and borders Lonehill, also falls under the auspices of the Lonehill Residents Association. The Residents Association is well-known in Johannesburg for its efforts to create a ‘lifestyle living’ ethos by encouraging movie nights and family day events in the four parks within the suburb. It also maintains its own emergency service and hosts community events such as the recent Domestic Workers Forum held at Lonehill Village in a bid to bring a closer bond of mutual trust between the community and police. In addition, three excellent Crawford schools are located in the area and are within walking distance for children, which is another draw card.
“Speaking as a resident myself, I can attest to the many and varied reasons why Lonehill and Beverley are sought after by buyers but to top it all, the local business developments have not only given the area a boost but will exponentially increase property values in this area for years to come,” adds Thaver.