Three high-profile Saxonwold properties to be sold after a seven-year saga

Johannesburg’s exclusive Saxonwold suburb is preparing to witness the auction of three properties linked to the controversial Gupta family, as part of a legal and financial saga that has stretched since 2018. The properties belong to Confident Concept, a Gupta-owned company currently under business rescue proceedings.

Clive Lazarus of Park Village Auctions describes this sale as “the beginning of the end” for one of South Africa’s longest-running property disputes involving business rescue and municipal litigation.

A Tangled Web of Financial and Legal Troubles

Confident Concept has been at the centre of fierce legal battles. One major issue involves business rescue processes triggered by financial difficulties, alongside disputes with the City of Johannesburg over unpaid rates and taxes — reportedly owing over R726,000 as of 2022.

The company’s portfolio includes several high-value properties, including the infamous Gupta family compound in Saxonwold, an area known for its wealthy residents and prime real estate.

These auctions come after the Supreme Court of Appeal ruled in favour of creditors, allowing the sale of Confident Concept’s assets to recover debts.

The Properties Up for Auction

• 5 Saxonwold Drive
  This mansion is a sprawling three-storey home boasting eight bedrooms, extensive living areas, an indoor pool, and multiple garages. Spanning over 4,200 square meters, it is one of the largest residences in the northern Johannesburg area and is tailored for affluent buyers wanting grandeur.

• 7 Saxonwold Drive
  Arguably the crown jewel, this vast panhandle property features 17 en-suite bedrooms, a dramatic triple-volume foyer with a domed skylight, cinema lounge, beauty salon, and staff quarters. Zoned as residential 1, it offers potential for subdivision into multiple units, subject to municipal approval.

• 3 Saxonwold Drive
  In contrast, this single-storey home offers a more modest footprint with three bedrooms, a garage, storeroom, and staff accommodation. It might appeal to buyers seeking something smaller but still in a prestigious neighbourhood.

The contents of each home—including furniture and appliances—will also be sold in bulk lots to bidders registered for the property auctions.

Auction Details and Public Viewings

Prospective buyers can attend public viewings scheduled for 6, 13, 19, and 20 July from 10 am to 4 pm. The auction itself will be a simulcast event hosted online by Park Village Auctions on Thursday, 24 July, at 11 am.

A refundable deposit of R500,000 is required to bid on 5 and 7 Saxonwold Drive, while 3 Saxonwold Drive requires a R250,000 deposit.

A Symbol of a Controversial Era

The Gupta family’s rise and fall have been closely intertwined with South Africa’s political and economic turbulence over the past decade. The auction of these properties doesn’t just represent a business rescue outcome; it signals the fading legacy of one of the country’s most talked-about families.

For Johannesburg’s luxury property market, the sale is also a rare opportunity to acquire some of the city’s most distinctive homes—properties that have captured national and international attention.

As the auction date approaches, the nation watches closely, wondering what the next chapter holds for these mansions once synonymous with controversy and influence.

{Source: BusinessTech}

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