- The Gupta family’s Saxonwold compound will likely be sold next year for up to R20m, auctioners believe.
- The compound was the scene of several meetings between the family and highly placed ANC politicians.
- For more stories, go to Business Insider SA.
The Gupta family’s infamous Saxonwold compound - the scene of several meetings between the family and highly placed ANC politicians - is expected to be auctioned off for around R20 million next year.
Several Gupta properties and assets, including a Saxonwold home which housed Ace Magashule's son and a private plane, have been auctioned over the last few months after most of the family’s South African businesses were placed under business rescue.
Other Gupta-owned assets still to be sold include a Midrand office block, a house in upmarket Constantia in Cape Town, a property in Umhlanga Rocks and another property in Saxonwold.
Park Village Auctions’ Clive Lazarus expects the Constantia house to reach between R8 million and R12 million, and the Umhlanga Rocks property to reach between R7 million and R9 million.
Jaco du Toit from Park Village Auctions, who has been involved in the sale of other Gupta properties, said the Saxonwold compound will likely be the last of the family's properties to be sold in South Africa.
Lazarus expects the compound, which consists of four properties, will reach around R20 million when auctioned off.
“The property has a political stigma so it will make it interesting to sell, and it will likely be converted into offices,” Lazarus said.
Also read: Take a look: A Gupta property, previously home to Ace Magashule's son, has been auctioned off
The Gupta-compound made headlines in 2015 when former Eskom CEO Brian Molefe claimed that he visited a 'shebeen' in the area, after phone records placed him in the vicinity of the property.
Former ANC MP Vytjie Mentor also claimed she visited the property in 2010 where the family offered her the position of public enterprises minister while former President Jacob Zuma was in another room.
In addition, former Deputy finance minister Mcebisi Jonas claimed that Gupta brother Ajay Gupta offered him the position of finance minister for R600 million during a meeting at the compound in 2015.
Jonas claimed the meeting was orchestrated by then-president Jacob Zuma’s son Duduzane Zuma.
And, former finance minister Nhlanhla Nene resigned in September 2018 when it emerged he met the Gupta family at the Saxonwold compound several times between 2009 and 2014, backtracking on previous remarks about only meeting the Guptas in social settings.
The Gupta family is currently believed to be residing in Dubai.
Also read: US sanctions on the Gupta brothers group them with the scum of the earth: genocidal generals, secret-police torturers, and politicians who steal from the poor.
The United States (US) blacklisted the Gupta-brothers Ajay Gupta, Atul Gupta, and Rajesh Gupta in October over their alleged corrupt activities in South Africa.
"[US] treasury’s designation targets the Guptas’ pay-to-play political patronage, which was orchestrated at the expense of the South African people," the country’s deputy secretary of the treasury Sigal Mandelker said in a statement.
"We will continue to exclude from the US financial system those who profit from corruption."
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