August 18 2025 16:15
Gupta stronghold
Fugitive family the Gupta’s Saxonwold compound was sold to a single buyer for about R34.5m, Park Village Auctions (PVA) has said.
PVA said all three properties, numbers 3, 5, and 7 Saxonwold Drive in Sandton, Gauteng, along with their contents, have been sold.
PVA’s Clive Lazrus said the sale included furniture and appliances, with the total amount realised inclusive of buyer’s commission and VAT. He said Business Rescue Practitioners (BRPs) accepted and approved the offer.
The properties had belonged to Confident Concept (Pty) Ltd, which is under business rescue.
In addition to the main properties, the single buyer also bought No. 7A Saxonwold Drive for R6.5m, including commission and VAT.
“With all necessary securities received in good order, the assets formerly belonging to Confident Concept (Pty) Ltd are confirmed as sold,” Lazarus said.
The BRPs will distribute the proceeds according to the business rescue plan, offering some relief to creditors.
PVA, acting on behalf of the BRPs, has overseen the disposal of assets from several companies linked to the Guptas, such as Islandsite Investments 180, Koornfontein Mines, Optimum Coal Mine, Optimum Coal Terminal, The New Age Media, and VR Laser Services.
“The BRPs are satisfied with this outcome, as is PVA. The sale signifies how we, with the BRPs, will be relentless in reclaiming funds owed to creditors,” said Lazarus.
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