Houghton Estate, upper and lower Houghton along with adjacent Killarney, constitute a lush, tree-lined, mainly residential area. They are up-market suburbs with many beautiful, historic mansions, besides some art-deco style apartment buildings. Munroe Drive is a popular tourist destination, not only to see historic buildings, but also to enjoy the panoramic views of the city. “The Regional Spatial Development Framework of the City of Johannesburg has sanctioned redevelopment within the area which has seen beautiful, old homes giving way to luxury townhouse developments or high-end apartment blocks,” says Leon Breytenbach, National Manager of the Rawson Property Group’s commercial division
Location and access
Houghton lies to the east of the M1 motorway, while Killarney is to the west. Adjacent suburbs include Rosebank, Saxonwold, Highlands North as well as Parktown. The area is traversed by the M1, M11 and M31 motorways besides having easy access to the R25. The suburban road grid is efficient, allowing convenient local travel while also providing access to the N1 or N3 highways. “Four airports may be reached from Houghton, with OR Tambo International closest at just 21 kilometres, Lanseria International is 49 kilometres to the northwest, while Rand and Grand Central private airports are respectively 22 kilometres and 25 kilometres distant,” Breytenbach explains. Johannesburg CBD lies less than seven kilometres to the south of Houghton while Pretoria is situated 61 kilometres to the north.
The Gautrain may be reached by means of the Gautrain bus which travels along Oxford Road to the Rosebank station, a distance of about two and a half kilometres. The Metrobus also serves the area, while minibus taxis are readily available.
Commercial property
According to the SAPOA Office Vacancy Report for July 2017, the Houghton-Killarney area has 124 484 square metres of office space of which 122 284 is A grade, while 2 200 square metres is B grade space. Only 12 122 square metres of A grade space is currently available for rent, at an average cost of R140 per square metre. “The vacancy percentage has dropped from 10.4% nine months ago to the present figure of 9.7%,” reports Breytenbach. There is an amount of 2 538 square metres of space that is not yet market ready, but which will become available in due course at a rental of R185 per square metre.
From August 2016 to July 2017, the residential market reflected the sale of eight properties within estates, in addition to 46 freehold properties. The sectional title market showed the greatest activity with a total of 70 properties changing hands. In Killarney for the same period, there were 113 sectional title properties sold.
Amenities
Killarney Mall serves the Houghton–Killarney area, offering a wide variety of retail outlets, while both the Oaklands as well as the Norwood shopping centres are situated nearby. There is an eclectic range of coffee shops in Houghton, besides some world class restaurants. Two top golf courses, the Houghton Golf Club and the Killarney Golf Club along with a bowling club, are situated within the area. “For the fitness conscious, there are gyms available, while for those wanting to be in the great outdoors, The Wilds is a great place for hiking, bird-watching, enjoying the indigenous flora or the panoramic scenery,” advises Breytenbach.
Several boutique hotels are situated in Houghton such as The Residence, The Munroe or 10 2nd Avenue, while the Houghton, which is currently under construction but due for completion in 2018, is to be one of the most luxurious hotels in South Africa. With regard to education, King Edward School as well as St. John’s College are situated in Houghton. The neighbouring suburbs provide access to any medical, dental or other health practitioners which may be required.
As the redevelopment of Houghton–Killarney progresses, it will ensure that the area continues to grow commercially as well as residentially. It is a worthwhile area in which to invest for the future.
