Gupta family's Saxonwold compound to be sold at auction

Bidders for the Gupta family's home in Saxonwold, Johannesburg, will be expected to fork out between R250,000 and R500,000 to take part in next month's auction of the infamous compound.

Last week Park Village Auctions (PVA) was were given the green light by the court to go ahead with the auction and on Thursday they released details of the auction of the three properties. 

While the registration fee is set at R50,000 refundable deposit, the bidders will have to pay in an additional R500,000 to bid for property No 5 and No 7 (three-storey mansions) and pay R250,000 for the single-storey property No 3.

The steep registration fees are uncommon.

“We have decided to put stringent rules to deter people who want to mess around. In the past we've had the Gupta lawyers messing up by paying the registration fee and then not bidding. We have done a few auctions of their assets in the past,” a source from the auction company said.

The employee added PVA wasn't sure how much the property would be sold for but were willing to negotiate.

“It will be a challenge to sell it because most of the buildings are derelict, but the property is in a prime area. The buyer can flatten it and build their own home,” said the source.

The three buildings on the property on Saxonwold Drive will be sold separately, while the furniture will be sold as a lot on July 24.

Public viewing will take place on June 30, July 6, 13 and 19 between 10am and 4pm.

The properties are part of Confidence Concept, which was in business rescue. 

First on the block will be No 5 Saxonwold Drive, a three-storey residence featuring eight bedrooms, extensive living and entertainment areas, an indoor swimming pool, an expansive rooftop patio, staff accommodation and ample garaging. 

The No 7 building is a panhandle property comprising three storeys and 17 en-suite bedrooms.

The third property is a single-storey, three-bedroom home with a single garage, storeroom and staff accommodation.

The Saxonwold compound was where the Gupta family wined and dined politicians in what was widely viewed as part of a strategy to capture state influence and secure government contracts.

In 2018 former deputy finance minister Mcebisi Jonas gave scathing testimony at the Zondo commission of inquiry into state capture, detailing threats, bribes and corruption he had encountered during a meeting at the Gupta residence. He said the meeting had been arranged by former president Jacob Zuma’s son Duduzane.

Others who have been at the property include former home affairs minister Malusi Gigaba, ex-Transnet bosses Brian Molefe, Siyabonga Gama and Anoj Singh, who the Zondo commission found had collected bribes in bags from the Gupta compound, as per the testimony of three witnesses who served as their protectors or drivers.

The Guptas have fled South Africa and are being pursued by government to face criminal charges.

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