A Gupta-owned property in Saxonwold has been sold at auction for R2.6 million.<\/p>\n
The house – famed for being the temporary residence of Ace Magashule’s son – is the first of several properties belonging to Gupta-owned Confident Concepts up for auction. The company is in business rescue.<\/p>\n
The Gupta family has a well-documented history in South Africa, particularly their close ties with former president, Jacob Zuma.<\/p>\n
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 \u201ccapture the state\u201d.<\/p>\n
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), said auctioneer, Park Village Auctions.<\/p>\n
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.<\/p>\n
The property was sold\u00a0by Park Village Auctions and GoIndustry DoveBid which have been jointly appointed by the business rescue practitioners.<\/p>\n
“We see the sale as an indication of what to expect with the remaining Gupta properties. Justice will out for the creditors awaiting payment albeit slow as a result of the delicate nature of the matter.<\/p>\n
“Transparency and following the law to-the-letter are paramount, and we believe this property signals a turning point in the saga. The wheel has started to turn, and we await instructions from the business rescue practitioners for the remaining properties,” said Clive Lazarus, PVA\u2019s head auctioneer.<\/p>\n
The sale is subject to confirmation by the business rescue practitioners who will accept or reject the offer.<\/p>\n
Lazarus speculated that the offer will be accepted, as the price of R2,600,000 ex vat is satisfactory. “All things considered, we believe that is a fair price for both the buyer and seller,” he said.<\/p>\n
He said that an additional three properties in Saxonwold are set to be sold, along with a house in Constantia, Cape Town, and another in Umhlanga Rocks, Durban.<\/p>\n
The Gupta’s Optimum coal mine will also be brought to market, he said.<\/p>\n
The home can be viewed here<\/strong><\/a>.<\/p>\n
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