Luxury property developer Tricolt broke ground on its latest residential development, Tree Tops Houghton, on August 18. The development is located at the intersection of the well-known Johannesburg suburbs Rosebank and Houghton, and is within walking distance of Rosebank’s busy CBD. “It is an achievement to get a project of this scale and nature into the ground, especially during troubled times,” says Tricolt CEO and developer of Tree Tops Tim Kloeck. “Fortunately the market has been a great support. All of our developments offer investors and purchasers solid capital appreciation and return on investment.” Tree Tops will comprise 131 luxury apartments and amenities such as a Fitzone gym, a lap pool, a braai area, manicured gardens, a clubhouse, a sky bar and state-of-the-art security.
The response has exceeded expectations: the sales team at Alan Becker Properties (AB Props), led by director Warren Becker, has brought in more than R200m in sales to date. They attribute this success to an appealing value proposition, coupled with the location and record low interest rate. “There has been significant interest in the larger units, especially from people looking to downscale,” says Andrew Morris, director at Time Works Projects and project manager of the development. “A large number of buyers have indicated that they are buying to live in rather than to let, signifying the value of the offering.” Tree Tops Houghton is the latest apartment development from Tricolt, following The Houghton Apartments, Ellipse Waterfall and Brookfield at Royal, the first luxury residential development at the Royal Johannesburg & Kensington Golf Club.