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South African billionaire Dick Enthoven buys Point Piper waterfront

The South African billionaire who co-owns the global Nandos fast-food chain has paid more than $18 million to join the ranks of Point Piper’s waterfront home owners.

The Wunulla Road residence was on and off the market for about a year before it was relisted in September by office furniture sellers David and Nadine Levin.

Enthoven, the son of South African insurance magnate Robert Enthoven, helped kick-start Nandos in 1987, in Johannesburg, when he bank-rolled the venture by entrepreneurs Robbie Brozin and Fernando “Nando” Duarte. He is now a major part-owner of the business, which has more than 1000 restaurants worldwide.

South African billionaire Dick Enthoven buys into Point Piper’s waterfront

Enthoven stepped down as chairman of the largest privately owned insurance group in South Africa last year, to focus on Hollard’s Australian insurance operation.

He bought the Point Piper residence overlooking Rose Bay pre-auction through Ray White Double Bay’s Elliott Placks and Michael Finger. Despite much hush-hush by the agents on the sale details, a caveat reveals it was bought by Enthoven and his wife, Karen.

After the exchange on the property, Enthoven, who recently stepped in to help fund the OpenAgent.com.au start-up site which compares real estate agents, signed up the same Michael Finger and Elliott Placks team to sell his former home in Bellevue Hill.

Streatfield Road, Bellevue Hill.Streatfield Road, Bellevue Hill.

Hopes of Enthoven recouping the $7 million he paid for the Streatfield Road home in 2010 might a bit far-fetched, even with the substantial renovation of the property since.

The three-storey house with five bedrooms, cellar, games room, media room, study and a swimming pool goes to auction on December 3.

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