Gupta house in Saxonwold auctioned off for just R2.6m

Picture: iStock

The deal has been described as something of a bargain for the buyer.

After a reported purchase price of R3 million more than seven years ago, a Gupta house in Saxonwold was sold at auction on Monday for R2.6 million, reports Times Live.

The Mail & Guardian reported last month that ANC secretary-general Ace Magashule’s son Tshepiso had been the Avonwold Road home’s most recent occupier, and had been “forcefully removed” from it.

Auctioneers told Times Live that this was just one of four Saxonwold properties they were disposing of after the Guptas’ companies were put into business rescue. The company that owned the house, Confident Concepts, was reportedly registered in 2006, with Atul Gupta, Tony Gupta, and others as directors.

Clive Lazarus of Park Village Auctions said that they would also be putting houses in Cape Town and Durban under the hammer, while Optimum Mine would also be sold.

Watch the video below, courtesy of Times Live.

The Avonwold home is separate from the more famous nearby Gupta compound that has been the source of much unhappiness in the exclusive suburb.

In 2016, a team of officials visited the Gupta mansion to investigate a raging battle between the family’s representatives and the neighbours.

Residents claimed the mansion was “illegally built” and had devalued the area. They wanted the property demolished, since they claimed it was in contravention of city planning regulations. Other complaints about the property included that it featured no greenery, being completely paved, and was poorly built and “falling apart”.

The mansion used to be regularly visited by government officials, including various ministers and even President Jacob Zuma; at one point the Guptas even wanted their own helipad, which their neighbours also protested against. It popularly became known as the Saxonwold Shebeen after an odd comment from former Eskom CEO Brian Molefe, a man allegedly linked to the Guptas.

The compound was raided last year by the Hawks.

The National Prosecuting Authority said authorities raided the bigger Gupta house to seize assets from those implicated in the Vrede dairy farm case.

“Among the assets forming part of the restraint order, include the following; immovable property (residential and business premises and farms), two aircrafts, a helicopter, vehicles and bank accounts belonging to certain entities, namely, Oakbay Investments, (Pty) Ltd, Islandsite Investments 180, Confidents Concept (Pty) Ltd, Sahara Computer (Pty) Ltd and Westdawn Investments and Aerohaven Trading,” said a police statement.

For more news your way, download The Citizen’s app for iOS and Android.




today in print

today in print