Situated in the financial heart of Johannesburg and overlooking Newtown, The Franklin incorporates the spirit and timelessness of some of the greatest American buildings, writes MICHELLE SWART

THE recent revival of the Johannesburg inner city is welcomed by many, as most recognise Johannesburg as the city where the money is. Currently, the city generates 16% of SA's gross domestic product and employs 12% of the national work force. The financial, municipal, roads and telecommunication infrastructure matches that of the leading cities of the world and Johannesburg is the gateway for almost all business into Africa. International ratings agency Fitch Ratings has announced the upgrade for the long term rating of the city of Johannesburg from BBB+ to A-.

The Johannesburg CBD Perception Survey 2003, conducted by Surveillance Technology, found that the inner city can never be replaced as one of SA's prime national assets, and that public and private sector confidence is dramatically returning to the central business district. This would place the inspiring return of life to the inner city of Johannesburg in correlation with the trend registered internationally.

As a fundamental part of the rejuvenation of Johannesburg, The Franklin in Diagonal Street offers an opportunity for only a few investors to acquire an initial release of only 60 exclusive inner city apartments at very competitive entry-level prices. The apartments range in size from approximately 60 square metres to 1000m².

Generous in design, opulent in its necessity to enrich, and robust in style, The Franklin is a bold mix of American flair and fresh ideas by award-winning world-renowned architects Stefan Antoni.

From the Wellness Centre and Spa, gymnasium and rooftop practice pool to the exclusive upmarket shops and the world-class restaurants, The Franklin aims to elevate inner city living to a whole new level.

In the heart of the Financial District and bordering Newtown residents will easily be able to walk to popular restaurants like Moyo, the Market Theatre and the World of Beer. Each apartment enjoys breathtaking views as well as 24-hour security and a central reception area. In addition, facilities such as exclusive office and conference amenities, basement parking, a gymnasium and wellness centre, an indoor swimming pool and spa as well as exclusive street cafés & restaurants are available to residents.

There are also very lucrative rental possibilities as there is a tremendous shortage of hotel accommodation in the Financial District of Johannesburg at present. Not only is the Franklin literally within walking distance of all the entertainment at Newtown and the Market Theatre, but also literally across the road from other tourist attractions like the famous World of Beer.

In addition, The Franklin has a captive audience of some of South Africa's largest corporations and financial institutions right on its doorstep - all in need of up-market accommodation within easy reach for clients and visiting business associates. Urban Ocean is therefore providing for a managed rental pool to cater to the demand for up-market accommodation in the area. This rental pool is to be operated on behalf of owners who would like to optimise the return of their investment at The Franklin.

At a conservative three-star rate of R800 a night and only 60% occupancy, investors at The Franklin will generate R14000 income a month or a projected 100% return on a fully bonded property per month (based on an estimated renovated cost of R480000 at a 100% bond). Bond re-payments plus levy is estimated at R6000-R7000 a month.

Urban Ocean is a specialist property developer focusing on the redevelopment of inner cities. At present the company owns a portfolio of more than 50000m² in the Financial District of Johannesburg.

In each of the buildings in the Urban Ocean portfolio (with the exception of the Commissioner Street Parkade), a number of exclusive residential apartments were made available to the public. CornerHouse and National Bank House sold out in less than one week of the launch and many initial purchasers are now being offered prices for apartments that represent returns of over 100% of their initial investments. The 32 Penthouse apartments at No1 Rissik Street also sold out within two days.