113-year-old private school sold for over R15 million in South Africa

·16 Jun 2026

Mayfair Convent School, a private primary school in Johannesburg with over a century of history, has been sold for over R15 million.

According to a broker familiar with the transaction, the property occupied by Mayfair Convent Primary School was sold before it could reach the auction floor.

“The property did not actually make it to the active bidding floor because it was officially sold before auction by Broll Auctions and Sales in October 2025,” the broker told BusinessTech.

The broker said demand for the property was particularly strong, with multiple interested parties engaging before the auction date.

“This property attracted exceptional interest from the market and was sold before the auction,” the broker said.

While the exact value of the transaction remains confidential, the broker confirmed that the final sale price exceeded R15 million.

The broker added that the final amount was significantly higher than the reserve price. “The property sold well above the reserve price due to demand for the property.”

The school was founded in 1913 by the Sisters of Mercy and has educated children from Grade 0 to Grade 7.

Mayfair Convent celebrated its centenary in 2013, marking 100 years in operation. However, despite its history, the school was ultimately unable to overcome mounting financial pressures.

In a letter sent to parents and learners last year, board chairperson Grace Masuku announced that the school would close permanently at the end of the 2025 academic year.

“It is with deep regret that we inform you that Mayfair Convent Primary School will be permanently closing its doors at the end of this academic year,” Masuku said.

“This is not just the closing of a building—it is the closing of a chapter that has meant so much to all of us.”

Masuku said the school’s financial position had been under constant review and that reductions in government support had placed increasing strain on its ability to operate.

“The government subsidy has been reduced in the past year by 13% and then 18%, as communicated to you in previous letters. The school furthermore only received 50% of what was expected in the June 2025 subsidy payment,” she said.

New owners giving back to the community

She added that these financial challenges left the school with no viable path forward. “Despite our greatest efforts to sustain the school, challenges beyond our control have made it impossible to continue operating,” Masuku said.

“This means that Mayfair Convent School will not be able to financially sustain itself going forward beyond December 2025.”

Parents were asked to continue paying school fees in full until the end of the year to ensure teachers, staff, and creditors could be paid.

Masuku added that staff had been consulted throughout the process and understood that closure was the only feasible option.

The site occupies approximately 7,732 square metres in Mayfair, Johannesburg, adjacent to Netcare Garden City Hospital.

It includes roughly 3,763 square metres of purpose-built educational facilities, including classrooms, administrative offices, a school hall, ablution blocks and recreational areas.

The property also benefits from pre-approved educational zoning, making it immediately suitable for scholastic and institutional use.

Importantly, the broker said the new owners intend to preserve that role. “The new owners indicated that they are giving back to the community and keeping it as an Educational Facility,” the broker said.