{"id":828694,"date":"2025-06-19T15:52:16","date_gmt":"2025-06-19T13:52:16","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=828694"},"modified":"2025-06-19T15:53:18","modified_gmt":"2025-06-19T13:53:18","slug":"gupta-mansions-up-for-auction-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/828694\/gupta-mansions-up-for-auction-in-south-africa\/","title":{"rendered":"Gupta mansions up for auction in South Africa"},"content":{"rendered":"\n

Three Johannesburg properties belonging to Confident Concept, a Gupta-owned company in business rescue, are being sold at auction.<\/p>\n\n\n\n

The three high-profile Saxonwold properties are going on auction, with their owner embroiled in litigation since 2018.<\/p>\n\n\n\n

Park Village Auctions’ Clive Lazarus said that the sale signals the “beginning of the end” of a seven-year saga.<\/p>\n\n\n\n

Confident Concept has been involved in two major legal fights: business rescue proceedings following financial distress and disputes over property development with municipal authorities.<\/p>\n\n\n\n

The company has a massive portfolio of properties, including the controversial family’s compound in the affluent suburb of Saxonwold.<\/p>\n\n\n\n

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

Other legal challenges ran concurrently, with the company and other Gupta-linked entities entering business rescue proceedings.<\/p>\n\n\n\n

These proceedings were marked by major internal conflict and legal action over managing the company and its assets.<\/p>\n\n\n\n

The Supreme Court of Appeal has since ruled that Confident Concept’s properties go up for auction, with the creditors now set for a payday.<\/p>\n\n\n\n

The properties for sale<\/h2>\n\n\n
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5 Saxonwold Drive<\/figcaption><\/figure><\/div>\n\n\n

The properties on auction differ extensively, with those being sold ranging from modest to opulent to unbelievable.<\/p>\n\n\n\n

The first is 5 Saxonwold Drive, a huge three-storey residence featuring eight bedrooms, extensive living and entertainment areas, an indoor swimming pool and ample garaging.<\/p>\n\n\n\n

PVA said that the mansion, measuring 4,207 sqm, will appeal to affluent homeowners who want to make a statement, and is one of the largest in Johannesburg North.<\/p>\n\n\n\n

Number 7 Saxonwold Drive is also going under, with the panhandle property consisting of three storeys and a vast 17 en-suite bedrooms.<\/p>\n\n\n\n

The premises also feature a grand, triple-volume foyer with an atrium-like domed skylight, multiple lounges, a cinema lounge, a beauty salon and staff accommodation.<\/p>\n\n\n\n

Number 7 Saxonwold Drive is zoned residential 1, and could, with the necessary approval, be converted into three or more residential units.<\/p>\n\n\n\n

The final property to be auctioned is number 3 Saxonwold Drive, which comprises an older, single-storey, three-bedroom home with a single garage, storeroom and staff accommodation.<\/p>\n\n\n\n

The contents of each house, especially the furniture and appliances, will be sold as a single lot following each respective property. Registration for the furniture will grant participation in the property auctions.<\/p>\n\n\n\n

All interested bidders can attend public viewings of the properties, which will be held on July 6th, 13th, 19th, and 20th from 10h00 to 16h00.<\/p>\n\n\n\n

Park Village Auctions will host a simulcast auction, scheduled to take place on Thursday, 24 July, at 11 am, via its website.<\/p>\n\n\n\n

A R500,000 refundable auction deposit is required for the 7 and 5 Saxonwold Drive auctions, while a R250,00 deposit is necessary for the 3 Saxonwold Drive development.<\/p>\n\n\n\n

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Images of the properties <\/h2>\n\n\n
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7 Saxonwold Drive<\/figcaption><\/figure><\/div>\n\n
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7 Saxonwold Drive<\/figcaption><\/figure><\/div>\n\n
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7 Saxonwold Drive<\/figcaption><\/figure><\/div>\n\n
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7 Saxonwold Drive<\/figcaption><\/figure><\/div>\n\n
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7 Saxonwold Drive<\/figcaption><\/figure><\/div>\n\n
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7 Saxonwold Drive<\/figcaption><\/figure><\/div>\n\n
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5 Saxonwold Drive<\/figcaption><\/figure><\/div>\n\n
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5 Saxonwold Drive<\/figcaption><\/figure><\/div>\n\n
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5 Saxonwold Drive<\/figcaption><\/figure><\/div>\n\n
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5 Saxonwold Drive<\/figcaption><\/figure><\/div>\n\n
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3 Saxonwold Drive<\/figcaption><\/figure><\/div>\n\n
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3 Saxonwold Drive<\/figcaption><\/figure><\/div>\n\n
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3 Saxonwold Drive<\/figcaption><\/figure><\/div>\n\n
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3 Saxonwold Drive<\/figcaption><\/figure><\/div>\n\n\n
\n","protected":false},"excerpt":{"rendered":"

Several properties belonging to the Gupta family are going under the hammer next month. <\/p>\n","protected":false},"author":95,"featured_media":828710,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[22901,13950],"class_list":["post-828694","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-confident-concept","tag-park-village-auctions"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/828694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=828694"}],"version-history":[{"count":8,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/828694\/revisions"}],"predecessor-version":[{"id":828738,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/828694\/revisions\/828738"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/828710"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=828694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=828694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=828694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}