'Historic' Soweto home for sale for R3 Million

Johannesburg - The home of the well known Soweto resident late Dr Johnny Mosendane has been placed on the residential property market for the first time.

The home, which was designed by renowned architects Michael Sutton and David Walker in 1979, is being marketed for R3m. The property has won various architectural awards.

Trish Luthuli of Pam Golding Properties in Gauteng, said the residence has historic significance to the community and is one of the most valuable properties to ever go on the residential property market in Moroko, Soweto.

“The late Dr Mosendane was an icon in the Soweto community and his remarkable five-bedroomed property, which is situated in Rockville, Moroka, is a landmark and one of the best-known residential properties in the area,” said Luthuli.

“The design has split-level reception rooms with a wood-burning fireplace, unusual barrel vaulted ceilings and sky roofs. It is a most remarkable all-brick design, very much in the Michael Sutton mould, and there is certainly nothing comparable to it within the Soweto area, or indeed in Johannesburg.”

According to Luthuli, this family home, with its swimming pool and expansive gardens, is both tranquil and an entertainer’s dream.

“The property may also offer a number of commercial opportunities to an astute entrepreneur, such as accommodation for tourists to Soweto, an events venue or even a restaurant,” said Luthuli.

Luthuli says that the Soweto property market is one of the most dynamic in Gauteng, offering affordability and value for money. Many people also appreciate the strong sense of community that is evident in the area as well as its rich cultural heritage.

The average home in Soweto sells for approximately R300 000, but there is a strong demand for homes up to R750 000. One can obtain a two-bedroomed home with a garden for approximately R750 000 in an area such as Meadowlands. More upmarket homes between R1.5m to R2m are also popular.

“We expect the recent 25 basis point interest rate hike and increases in household costs to have a somewhat of a dampening effect on the housing market in the area.

However, with increasing urbanisation and a growing black middle-class, homes across all price brackets in Soweto are likely to remain in demand and represent a sound investment.

The rental market in the area is also substantial and remains strong,” said Luthuli.

“It’s not every day such a one-of-a-kind home comes on sale in Soweto.”

Source: http://www.fin24.com/Companies/Property/Historic-Soweto-home-for-sale-fo...