Prime Sandhurst property goes on offer at R30-million
Category My Property - Property News
Prime Sandhurst property goes on offer at R30-million
A large piece of prime real estate in Sandhurst, one of Gauteng’s most expensive addresses, has come on the market after 50 years of family ownership says luxury homes marketer Ronald Ennik.
Priced at R30-million, the 8500sqm erf in Harrow Road was bought 50 years ago by Professor Joseph Levin, one of the pioneers of nuclear medicine in South Africa, adds the founder and CEO of Christie’s-affiliated Ennik Estates.
The professor, who died in 2012, was at one stage the Head of Nuclear Medicine at the Johannesburg General Hospital.
His investment in the Sandhurst erf was made (with great foresight) in 1963, following which he built a family home on it – some years before the first sod was turned on the nearby site of Africa’s iconic Sandton City shopping hub.
At one stage during the long-term residence of Professor Levin and his family at 45 Harrow Road, one of their nearby neighbours was the renowned paleoanthropologist Professor Raymond Dart (who produced the first evidence that humans originally evolved in Africa).
The property, including the original old house, has been put on the market by Professor Levin’s three children, only one of whom, Jenny Gardy, is still resident in South Africa. She is coordinating the sale of the property on behalf of the family.
Ennik Estates is marketing the property in a bespoke mandate with Firzt Realty.
“The property lies at what was once the heart of the Sandton ‘mink and manure’ belt – so defined because of the then criss-cross of horse trails used by its well-heeled equestrian residents,” says Ronald.
“Today the Sandhurst area is known as Gauteng’s ‘platinum’ property belt. It is highly desirable because of its prime location, its status as one of the best neighbourhoods in town, its large land size, and because it generally has virtually no price ceiling. So, there are seldom any bargains to be had.
“Furthermore, like equally blue chip Hyde Park and Westcliff, the owner profile of Sandhurst is generally captains of SouthAfrican commerce and industry, top end medical and other professionals, and international investors,” says Ronald.
“The Levin property is an obvious ‘buy-demolish-build’ development proposition,” says Jan Minnie, who, with Ronald, is driving the Ennik Estates end of the mandate.
“Zoned for residential use, the property is already approved for sub-division into four, but could be further sub-divided for a cluster of, say, six homes,” says Jan.
“Marketing properties in top end residential areas like Sandhurst requires a keen awareness and grasp of the nuances and unique characteristics of this discerning end of the market – as well as an understanding of the specialist needs of the high net worth, and extremely closely knit, communities who are its investors,” Ronald concludes.
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.
Author: Ronald Ennik
