Rare op­por­tu­nity arises in de­sir­able Sand­hurst

A prime piece of real es­tate in the high-end sub­urb of Sand­hurst has come onto the mar­ket, writes Lea Jacobs

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RENOWNED for all the right rea­sons, Sand­hurst is recog­nised as one of SA’s most ex­pen­sive sub­urbs. Sit­u­ated 1.2km from Sand­ton, there is lit­tle ev­i­dence of the hus­tle and bus­tle that sur­rounds one of the coun­try’s fastest grow­ing busi­ness hubs.

Se­cu­rity is para­mount in the area and all en­trances to the sub­urb are boomed. The streets are heav­ily pa­trolled and closed to pub­lic thor­ough­fare. Emerg­ing as a sub­urb some 50 years ago, Sand­hurst now fea­tures some of SA’s most op­u­lent properties.

Its de­sir­abil­ity speaks for it­self and Wealth­In­sight, a Bri­tish­based wealth con­sul­tancy, re­cently re­ported that with 36 ul­tra high net worth in­di­vid­u­als, Sand­hurst is home to the high­est such pop­u­la­tion in the coun­try.

While prop­erty does sell for a pre­mium in Sand­hurst, very few properties in the area come on to the mar­ket. Last year only 12 free­stand­ing homes, to a to­tal value of nearly R161m, changed hands. Even at the height of the prop­erty boom dur­ing the mid-2000s, the num­bers were low, with 31 homes sell­ing in 2006 and 30 in 2007. Light­stone prop­erty statis­tics re­veal that so far this year only six properties have been sold in Sand­hurst, al­beit for the stag­ger­ing joint value of R101,406m.

Now the op­por­tu­nity to ac­quire a large piece of real es­tate in Sand­hurst has pre­sented it­self af­ter 50 years of fam­ily own­er­ship.

“Priced at R30m, the 8,500m2 erf in Har­row Road was bought 50 years ago by Pro­fes­sor Joseph Levin, one of the pi­o­neers of nu­clear medicine in SA,” says lux­ury homes mar­keter Ron­ald Ennik, founder and CEO of Christie’saf­fil­i­ated Ennik Es­tates.

Prof Levin’s in­vest­ment in the Sand­hurst prop­erty was made 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 longterm res­i­dence of Prof Levin and his fam­ily at 45 Har­row Road, one of their nearby neigh­bours was the renowned pa­le­oan­thro­pol­o­gist Prof Ray­mond Dart, who pro­duced the first ev­i­dence that hu­mans evolved in Africa.

The prop­erty, in­clud­ing the orig­i­nal old house, has been put on the mar­ket by Prof Levin’s three chil­dren, only one of whom is still res­i­dent in SA.

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 Ennik.

“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 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 made up of cap­tains of com­merce and in­dus­try, top-end med­i­cal and other pro­fes­sion­als, as well as in­ter­na­tional in­vestors,” says Ennik.

“The Levin prop­erty is an ob­vi­ous ‘ buy-de­mol­ish-build’ de­vel­op­ment propo­si­tion,” says Jan Min­nie, who is help­ing drive the Ennik Es­tates end of the man­date. “Zoned for res­i­den­tial use, the prop­erty is al­ready ap­proved for sub-di­vi­sion into four, but could po­ten­tially be fur­ther sub-di­vided for a clus­ter of, say, six homes.” Price: R30m Con­tact: Ennik Es­tates Ron­ald Ennik 083 273 3707 Of­fice 011 788 0688

Coro­na­tion Road in Sand­hurst …one of Jo­han­nes­burg’s best ad­dresses.

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