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DEVELOPING | Three Gupta family properties are expected to be auctioned in Saxonwold, Johannesburg, today.

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The entire Gupta compound in Saxonwold, Johannesburg, which went on auction last month, has officially SOLD for R34.5 million💸 It's been 7 years since the Gupta family fled South Africa, and the Business Rescue Practitioners have officially accepted an offer for all three properties at their sprawling Saxonwold compound at a price tag of R34 500 000 - this includes commission, VAT and the furniture. That is almost half of what the properties were said to be worth at their pre-sale valuation of R64.5 million. Along with the sale of these properties, the same buyer also snapped up 7A Saxonwold Drive for an additional R6.5 million. When you tour the homes, you’ll find Hindu-inspired wall murals adorned with gold paint, matching the lavish gold accents in the furniture. Abandoned Cartier catalogues, multiple safes, and prayer rooms still linger as reminders of the past owners’ opulence. The auction drew plenty of intrigue: • Registration required a R50 000 refundable fee. • Properties and furniture were sold separately. • Business Rescue Practitioners assured buyers they wouldn’t inherit outstanding rates and taxes (totalling close to R700 000) - those remain the responsibility of the Gupta-owned Confident Concept (Pty) Ltd, now in business rescue. I watched the live auction and here’s what happened: Erf 295 - 3 Saxonwold Drive – this property fetched a bid of R3 300 000. • Land size: 3687m2 • Building size: 349m2 • Municipal value: R5 542 000 • Monthly rates and taxes: R6031 per month • Generator included in the sale • Single-storey home, 3-bedrooms, staff quarters 5 Saxonwold Drive – this property achieved zero bids at the auction. • Land size: 4207m2 • Building size: 1547m2 • Municipal value: R21 731 000 • Monthly rates and taxes: R19 186 per month • Generator included in the sale • 3-storey home with 8 bedrooms, indoor pool, jacuzzi, rooftop patio, staff quarters 7 Saxonwold Drive – the bid opened at R5 million; however, only one bidder made an offer of R3 million. • Land size: 1723m2 • Building size: 1840m2 • Municipal value: R36 000 000 • Monthly rates and taxes: R29 433 per month • 3-storey home, 18 (en-suite) bedrooms, cinema, beauty salon. The furniture lots fetched bids for between R60 000 and R100 000. I am sure that creditors are looking forward to a much-welcomed payday. You can take a tour of the notorious compound below. Video courtesy of my good friends at the The Sandton Times | Lifestyle Media
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