Motsepes splash R69m for luxury Cape retreat

Patrice Motsepe is accustomed to being a trendsetter. He was the first black South African billionaire, and now - with his wife, Precious Moloi-Motsepe - he has paid what is said to be a record price for a house in the exclusive suburb of Bishopscourt in Cape Town.

The grand home, on a plot of 12000m²,hit the market for R98-million in 2011.

Last year the European owner decided to slash the asking price by R20-million. At the time, the southern suburbs managing director of estate agent Seeff, Andy Todd, said the owner was "in a bit of a hurry" to sell.

"The location in one of the country's top suburbs, Bishopscourt, makes the property especially appealing. It is also slightly elevated and enjoys breathtaking views across Cape Town and of Table Mountain," Todd - who has since died - said in May last year.

Although it is not clear which agency sold the property, records at the deeds office indicate that the Motsepes bought it for R69-million in September. The sale was registered last month.

Patrice Motsepe could not be reached for comment. But when we visited the home on Christmas Eve, security guards wanted to know whether an appointment had been made to meet the mining tycoon.

Just then, a BMW bearing a "Sundown GP" number plate snaked down the long driveway.

The 52-year-old Motsepe is the owner of the Premier Soccer League club Mamelodi Sundowns and has a house in Bryanston, Johannesburg.

Besides six en-suite bedrooms with dressing rooms, the Bishopscourt house features:

A floodlit tennis court, pavilion and swimming pool;

A "predominantly" indigenous garden;

A main bedroom suite that has a separate lounge with a fireplace and his and hers dressing rooms;

A baronial-style lounge and a formal 24-seat dining room;

A cigar lounge fit for a gentlemen's club in the basement, with a climate-controlled wine cellar; and

A gym, a music room, a cinema room, a billiard room and a 10-bay garage with a separate bay to have cars washed.

In addition, there is a house for an estate manager, and the mansion has a staff wing.

According to the 2014 Forbes list, Motsepe has a net worth of $2.7-billion (about R31.3-billion) and in October he donated $1-million towards the fight against Ebola.

Mike Greeff, the CEO of Greeff Properties, an affiliate of Christie's International Real Estate, could not comment on the Motsepes' purchase, but said his agency had sold a house that was on the market for R49-million in Bishopscourt recently.

That, he believes, was the second highest sale achieved, after the Motsepes' house.

About seven years ago, Greeff sold a house to the son of the president of Equatorial Guinea for R26.5-million. But he never moved into his home.

"The market in the southern suburbs is quite buoyant. We are seeing record prices because this sort of lifestyle cannot be repeated anywhere else in the world. Bishopscourt is also integrating and has been for years, which is a healthy thing," said Greeff.