Gupta Saxonwold mansions sold at R30 million discount

·12 Aug 2025

Park Village Auctions has confirmed that all the so-called Gupta mansions in Saxonwold have been fully sold, with the combined total reaching R34.5 million.

This is a significant 47% (R30 million) discount on the pre-sale valuation of R64.5 million for all three properties.

According to the group, all three properties—namely numbers 3, 5, and 7 Saxonwold Drive—and their contents fetched an estimated total of R34.5 million inclusive of buyer’s commission and VAT.

The disposal of three ‘mansions’ is part of the business rescue plan attached to the Gupta-owned Cofident Concept.

The company was involved in litigation with the City of Johannesburg (CoJ), allegedly owing R726,695 in rates and taxes as of 2022.

Other legal challenges ran concurrently, with the company and other Gupta-linked entities entering business rescue proceedings.

The Supreme Court of Appeal ruled that Confident Concept’s assets go up for public auction. Only one of the three infamous properties was sold at the public auction held in July.

Combined, the total value of all the properties was listed as R64 million:

No. 5 Saxonwold Drive (Erf 296): A 4,207 m², three-storey estate with eight bedrooms, five en-suite bathrooms, an indoor pool, rooftop patio, and staff quarters. Valued at R22 million.

No. 7 Saxonwold Drive (Erf 297): A 1,720 m², hotel-like mansion with 17 en-suite bedrooms, a cinema, beauty salon, and triple-volume foyer. Valued at R37 million.

No. 3 Saxonwold Drive (Erf 295): A 3,000 m² single-storey home with three bedrooms, a garage, and staff quarters. Valued at R5.5 million.

The smallest dwelling, number 3 Saxonwold Drive, fetched R3.3 million at auction, 40% off its listed value price of R5.5 million.

After the public aution failed to get the bigger properties sold, it moved to private sales. Park Village Auctions was confident this would move the assets, as there was more discretion involved.

Now, all three properties have been confirmed sold. The Business Rescue Practitioners (BRP) have accepted and confirmed an offer, the auction house noted.

“As all necessary securities have been received in good order, the assets formally belonging to Confident Concept (Pty) Ltd, which is now in business rescue, are confirmed as sold,” it said.

“The BRPs will receive their funds in accordance with the terms of the business rescue plan, and creditors can expect a welcome payday.”

The auction group noted that the buyer also bought 7A Saxonwold Drive (not part of the Gupta auction) for R6.5 million, including buyer’s commission and VAT, separately.