Tricolt Property Development, well known as a quality, well-designed, luxury apartment brand, officially broke ground on its latest residential development, Tree Tops Houghton on August 18. The development is located at the intersection of two of Johannesburg’s most well-known suburbs, Rosebank and Houghton, and is within walking distance of the Rosebank’s busy CBD.
“I think it’s 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 for us, the market has been a great support.”
The new development will offer 131 luxury apartments and amenities such as a Fitzone gym, lap pool, braai area, manicured gardens, club house, sky bar and state-of-the-art security. Sales at the development have exceeded expectations; the sales team at AB Props (Alan Becker Properties), led by Director Warren Becker, has brought in over R200 million 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 from homes in the area,” says director at Time Works Projects and project manager of the development Andrew Morris. “Tellingly, a large number of buyers have indicated that they are buying to live in rather than to rent out, signifying the value of the offering at Tree Tops.” “Tricolt gives investors and purchasers fantastic capital appreciation as well as good return on investment,” concluded Kloeck.
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 Royal Johannesburg & Kensington Golf Club.
Author - Sarah Marjoribanks ~ Business Day Homefront