Brokers for Tokyo Sexwale’s Mvelaphanda Holdings envisage a “mixed residential and commercial development” on a historic wine estate in Durbanville, Cape Town.
The Bloemendal Wine Estate is up for sale at auction on March 25.
Offers from R180m will be reviewed, with prospective buyers required to provide proof of funds of R200m. A 5% non-refundable deposit is payable on the fall of the hammer with another 5% and VAT auctioneer’s commission payable by the buyer.
Tanya Jovanovski from Rawson Auctions said Bloemendal has a history dating back to 1702.
The sale comprises two portions which together form a significant 238ha holding.
Opportunities of this calibre, scale and location are extraordinarily rare
— Tanya Jovanovski from Rawson Auctions
“Bloemendal Wine Estate blends centuries-old heritage with modern commercial operations and future development potential,“ she said.
Sold as a going concern, it has restaurants, a winery, a wine tasting room, conference facilities and a proposed residential and commercial development.
“A proposed mixed residential and commercial development across about 40ha to 50 ha of the estate forms a major component of the opportunity,” Jovanovski said.
“Opportunities of this calibre, scale and location are extraordinarily rare. For qualified local and international investors seeking a Cape Winelands acquisition with strong brand equity and significant upside, this open tender presents a once-in-a-generation opportunity.”
With its approved subdivision, she said “Bloemendal offers immediate operational value combined with long-term strategic growth”.
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