The Guptas’ Upper Constantia mansion, standing in a derelict state, has been sold for R20 million to an international buyer.
The controversial family, who fled the country, paid R17m for the seven-bedroomed house in 2005 that was owned by Mark Thatcher, the son of late British prime minister Margaret Thatcher.
In South Africa, Mark Thatcher was found guilty of financing the 2004 coup attempt in Equatorial Guinea, and was handed a four-year suspended prison sentence, and fined.
In June 2021, the property was attached after the National Prosecuting Authority obtained an interim order to secure the assets belonging to members of the Gupta family pending the outcome of a criminal case.
The property is situated on Dawn Avenue in the Bel Ombre pocket of Constantia.
The property is situated where Monterey Drive intersects with Dawn Avenue.
The 8105 erf has five bedroom suites in the main house and a one-bedroom cottage on the north-eastern boundary.
The new owner bought the house even though it was in a state of disrepair after many years of neglect.
The property has a guard house, domestic quarters, a swimming pool and pool room, garaging, and a larger-than-average separate one-bedroom cottage.
Richard Huxham-Hardie from Hardie Property, who was the sole agent overseeing the sale of the property, said the house was currently uninhabitable and required major renovation.
“It was on the market a year ago. I listed it in January 2023, and I sold it by February. I had multiple interests. I sold it for the full asking price, but it then took a year to get the sale through,” said Hardie.
He said there was first an objection for it to be sold.
“We managed to get that overruled. So it sold pretty quickly, but it took a year to transfer. The property is completely uninhabitable, and the new owner, who is international, will be completely renovating the house from top to bottom and restoring it to its former glory days.
“It was previously owned by Mark Thatcher, and in those days it was in beautiful condition. So he’s going to restore it to its former glory,” said Hardie.