Having not found a suitable buyer for a luxury beach-front property in Knysna, the ‘Pezula Castle’ will now go under the hammer in the first High Street Auctions sale of 2018.
The Pezula Private Castle is located on Noetzie Beach, adjacent to the affluent Pezula Private Estate in Knysna.
According to High Street lead auctioneer and director, Joff van Reenen, even though the property is marketed as a singular ‘castle’, the prospective buyer would gain three buildings.
The entire property is made up of three “castles”, covering a total of 1,000 square metres. The Main Castle accounts for 656 square metres, with three en-suite bedrooms, with the Honeymoon Castle (190 square metres) and Little Castle (165 square metres) completing the build.
The cproperty was listed for sale in 2015, at an asking price of R56 million, but last traded hands years before that.
“The castles last changed hands more than seven years ago for in excess of R35 million, and have in recent years again sporadically appeared on the market through traditional real estate brokerages,” van Reenen said.
“They were also marketed abroad in countries such as the UK, but as was the case locally, brokers were unable to source a suitable buyer.”
The first High Street sale of 2018 starts at noon at Summer Place in Hyde Park, Johannesburg, on February 21. All bidders are required to pre-register for the sale, the group said.