Christies-affiliated Ennik Estates to market “The Houghton” residences
- 10 Apr 2012
Gauteng luxury property specialist Ennik Estates has been appointed to help market “The Houghton” – a R2-billion-plus development which overlooks the 7th and 12th holes of the newly-completed Jack Nicklaus signature golf course (in the century-old upmarket Johannesburg suburb of Houghton).
The golf course the centrepiece of about 170 acres of pristine private parkland in which the estate is set.
Ennik Estates is the exclusive affiliate in Gauteng of Christie’s International Real Estate, the US$100-billion sales a year global luxury property arm of the world’s largest and oldest fine art auction house.
“The Christie’s affiliation will enable Ennik Estates to add a powerful international investor-focused dimension to our local marketing campaign for The Houghton – a development which I firmly believe is now by far the best and most secure luxury lifestyle estate offering in Johannesburg since Melrose Arch,” says Ronald Ennik, CEO of Ennik Estates.
(Prior to launching Ennik Estates, he was closely involved with the successful marketing of the first two residential phases of Melrose Arch.)
“The Houghton could become a home-from-home for global corporates and executives who frequently use Johannesburg city as a base for doing business in Sub-Saharan Africa,” says Ennik.
After a recession-induced false start in 2008, The Houghton was redesigned and re-launched in 2010 with an enhanced value proposition that has already attracted over 100 high-calibre buyers – many of whom have taken occupation in the first phase of the development, which was transferred at the end of January 2012.
“They have bought across the entire spectrum of the offering, from the R3,5-million, 150sqm two-bedroomed units (with en suite bathrooms) to the penthouses, which range from R5,9-million to R39-million,” says Ennik.
“The big attraction at The Houghton is that home prices are roughly a third lower per square metre than at Melrose Arch and other like-on-like developments in Sandton, which have nowhere near the same expanse of parkland on their doorstep,” says Ennik.
“Right now, The Houghton is the crown jewel in the Johannesburg market for this type of aspirational lifestyle investment,” he adds.
“Most of the future buying interest in The Houghton will more than likely be concentrated among successful entrepreneurs, corporate executives and directors, well-heeled empty nesters, the professions, top-end buy-to-let investors,” says Ennik.
“Houghton is an exceptional suburb. It has embraced the new democracy to the extent that it has become the most cosmopolitan top-end area in Johannesburg. It has remained to this day one of the city’s most sought after residential addresses,” he concludes.