Latest news with #ParkVillageAuctions
eNCA
9 hours ago
- Business
- eNCA
Gupta mansions going under the hammer
JOHANNESBURG - South Africans have heard about high-level state capture meetings, including then-president Jacob Zuma, taking place inside the Gupta Compound, but what is it really like? It took Park Village Auctions over seven years to sell the properties.
The South African
2 days ago
- Business
- The South African
A look inside the Gupta mansions going up for auction
Three high-class Gupta mansions in Saxonwold, Johannesburg, will be up for auction on 24 July 2025. This follows the business rescue for the family's company, Confident Concept (Pty) Ltd, which the properties fall under. Park Village Auction's Clive Lazarus described the sale as signalling the 'beginning of the end' of the seven-year saga. The viewing of the properties, handled by Park Village Auctions, will be held between 6 and 20 July 2025. The first mansion will be the triple-storey residence at 5 Saxonwold Drive, featuring eight bedrooms, extensive living and entertainment areas, an indoor swimming pool, an expansive rooftop patio, staff accommodation, and ample garaging. The mansion measures up to 4,207 sqm. The 5 Saxonwold Drive mansion. IMAGE: Park Village Auctions. Indoor swimming pool. IMAGE: Park Village Auctions. The next property available for auction is the number 7 Saxonwold Drive, also a triple storey, has a staggering 17 en-suite bedrooms. The property features a triple-volume foyer, multiple lounges, a cinema lounge, staff accommodation and even a beauty salon. The 7 Saxonwold Drive property. IMAGE: Park Village Auctions. A salon inside the property. IMAGE: Park Village Auctions. IMAGE: Park Village Auctions. Last but not least on the list is number 3 Saxonwold Drive single-storey three-bedroom home with a single garage, storeroom, and staff accommodation. The number 3 Saxonwold Drive. IMAGE: Park Village Auctions. IMAGE: Park Village Auctions. The entire contents of each house, namely furniture and appliances, will be sold as a single lot (not individual items) following each respective property. To be part of the bid, you have to register and pay the relevant refundable deposits. Viewings of the properties will be held on 6, 13, 19 and 20 July 2025 from 10:00 to 16:00. The Saxonwold properties once hosted prominent figures such as the former Deputy Finance Minister, Mcebisi Jonas, who confessed at the Zondo commission about bribes and corruption he encountered during a meeting at one of the Gupta residences. The family's business, Confident Concept (Pty) Ltd, has been involved in two legal battles, including business rescue proceedings following financial distress and disputes over property development with municipal authorities. The company owned a substantial portfolio of properties, including those adjacent to the infamous Saxonwold compound in Johannesburg. Notably, these properties were embroiled in litigation with the City of Johannesburg (CoJ), allegedly owing R726,695 in rates and taxes as of 2022. After years of several appeals at the Supreme Court of Appeal, the Appellate Division finally ruled, allowing the Confident Concepts properties to go up for auction and 'hopefully lead to a long-awaited payday for creditors,' says Lazarus. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
The Citizen
3 days ago
- Business
- The Citizen
Gupta-linked Saxonwold mansions head to auction after seven-year legal battle
Three properties in business rescue will go under the hammer on 24 July. After seven years of drawn-out litigation, three luxurious Saxonwold properties tied to Gupta-owned Confident Concept (Pty) Ltd are set to be auctioned. The properties – including the family's former Johannesburg residence – are being sold by Park Village Auctions following a Supreme Court of Appeal ruling, marking what auctioneer Clive Lazarus calls 'the beginning of the end' of a long-running legal and business rescue saga. ALSO READ: 'Gupta Saxonwold compound' has its lights cut Creditors can breathe a sigh of relief The simulcast auction will take place on 24 July at 11am, with the sale expected to bring long-awaited relief to creditors. Confident Concept held a substantial property portfolio including land adjacent to the infamous Saxonwold compound in Johannesburg. The company became embroiled in litigation with the City of Johannesburg, allegedly owing R726 695 in rates and taxes as of 2022. It has faced two major areas of legal contention: business rescue proceedings due to financial distress, and disputes with municipal authorities over property development. The business rescue process, which began in 2018, ran alongside the municipal disputes and involved other Gupta-linked companies. It was characterised by internal conflict and protracted legal battles over the management of the company and its assets. ALSO READ: Who paid R20 million for the Gupta's rundown Constantia mansion? Opulent and decadent The first property to be sold will be number 5 Saxonwold Drive, measuring 4 207 m², which is a three-storey residence featuring eight bedrooms, extensive living and entertainment areas, an indoor swimming pool, expansive rooftop patio, staff accommodation, and ample garaging. Second on the list is number 7 Saxonwold Drive which also comprises three storeys with 17 en suite bedrooms. The property also features a grand triple-volume foyer with an atrium-like domed skylight, multiple lounges, a cinema lounge, beauty salon, and staff accommodation. The final property to be sold is number 3 Saxonwold Drive which is a single-storey, three-bedroom home with a single garage, storeroom and staff accommodation. The entire contents of each house, namely furniture and appliances, will be sold as a single lot (not individual items) following each respective property. Lazarus says he is humbled by Park Villages Auctions being entrusted to dispose of assets of such political significance once again, recouping millions for the corruption-afflicted creditors. This article was republished from Moneyweb. Read the original here.
eNCA
3 days ago
- Business
- eNCA
Exclusive tour inside Gupta compound going on auction
JOHANNESBURG - The infamous Gupta compound in Saxonworld is set to be auctioned off. The series of properties in the lavish Johannesburg suburb was home to numerous high-profile meetings between the family and government ministers. These properties currently belong to Confident Concept, which is a Gupta-owned company placed under business rescue. Confident Concept has been embroiled in litigation since 2018, the company is allegedly owing the City of Johannesburg thousands of rands in rates and taxes. The mansions will go under the hammer through Park Village Auctions in July. e
Zawya
07-05-2025
- Business
- Zawya
Botswana's Mupane Gold Mine to be sold
Mupane Gold Mining (Pty) Ltd is to be sold as per Park Village Auctions' and Auction IT's 'Request for Offers', recently published on behalf of the liquidator. Park Village Auctions and Auction IT have issued a Request For Offers for Botswana's Mupane Gold Mine, currently in liquidation (Image supplied) Botswana's sole gold operation is situated 50km east of Francistown in the North-East District of Botswana. Mupane Gold Mine commenced operation in 2004, extracting gold from banded ironstone hills known as the Mupanipani Hills. 'Mupane has faced financial difficulties and ceased operations in March 2024. It is currently under liquidation with bids due by Friday, 13 June 2025,' says PVA's John Taylor, who is overseeing the sale along with Auction IT. Offers are invited on the following: - Four (4) Licences of open cast and underground operations. - Grades ranging from approximately 1.05g/ton to 2.38g/ton (measured). - 15.9 million tons of Tailings average grade of circa 0.4g/ton. - 350tph crushing circuit and 200tph milling and CIL plant. - Complete mine infrastructure. Access to the Data room is available on receipt of a signed NDA and payment for access to the data room and RFO document. Offers are to be guided by the Request For Offers document (available in the data room). Offer documents must be submitted to no later than 4 pm on Friday, 13 June. To view images and an executive summary report, please visit web reference 1825 at Interested parties may also contact John Taylor at +2782 416 3883 or Adrian Rass at +267 391 8724. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
