A Gupta-owned property is set to go under the hammer this month, in the affluent leafy suburb of Saxonwold in Johannesburg.
The Gupta family has a well-documented history in South Africa, particularly their close ties with former president, Jacob Zuma. The family has since fled the country following accusations that it used its political influence to interfere in ministerial appointments to advance their business interests as part of a campaign to “capture the state”.
The R3 million property was as recently as last month used by Tshepiso Magashule, son of ANC secretary general, Ace Magashule, according to the Mail & Guardian.
The paper noted that business rescue practitioners have been selling off a number of properties owned by the infamous family.
“It appears that the Business Rescue Practitioners (BRP) overseeing matters related to Confident Concept (Pty) Limited- one of the several Gupta companies placed under business rescue—are determined not to waste any time in realising the Gupta assets,” said Park Village Auctions.
Advertisements released in partnership between Park Village Auctions and Goindustry Dovebid, jointly appointed by the BRPs, this week announced the sale of 18 Avonwold Road, Saxonwold, taking place on Monday the 18 November at 11am.
The 1,119 sqm luxury home comprises an entrance foyer, a lounge, a TV room, a dining room, a kitchen, three bedrooms and two bedrooms (one of which is en-suite), the auctioneer said.
A covered patio gives access to a front garden and swimming pool. The property further features a double garage, and a single bedroom and bathroom staff quarter, it said.
Clive Lazarus of PVA said that the sale represents a prime opportunity for those seeking to acquire a luxury home in the highly sought-after affluent suburb of Saxonwold at a favourable rate.
Citing figures on property24.com, residential homes in the area fetch anything upwards of R3 million, with some going up to R20 million, Lazarus said.
“The property in question made headlines on the 28 October after the successful eviction of Magashule Junior, who had been contesting the issue for many months prior—delaying the BRPs’ efforts to recover funds that will be used to settle debts with creditors,” he said.
According to Lazarus, this is also the first of several Saxonwold-based Gupta-owned properties to be auctioned by Park Village Auctions, “We are awaiting instruction to sell [the remaining properties] from the business rescue practitioners.”
The home can be viewed here