After years of controversy and legal battles, the three infamous Gupta-owned mansions in Saxonwold have finally been sold — but for far less than anyone expected.
Together, these sprawling properties fetched a combined R34.5 million, which is nearly half of their original combined valuation.
A Sharp Drop from Initial Valuations
Originally, the three mansions located at 3, 5, and 7 Saxonwold Drive, along with all their contents, were valued at a hefty R64.5 million.
The final sale price reflects a massive 47% discount — that’s about R30 million less than the initial estimated worth.
Part of a Larger Legal and Financial Unraveling
These sales come as part of the ongoing business rescue process for Confident Concept (Pty) Ltd, one of the many Gupta-linked companies caught up in financial woes and legal disputes.
Confident Concept had been in a battle with the City of Johannesburg over unpaid rates and taxes amounting to R726,695 back in 2022.
The company was also tangled up in other lawsuits with related entities.
Court Orders Mansions to Go Under the Hammer
Following a Supreme Court of Appeal ruling, Confident Concept’s assets, including these mansions, were ordered to be auctioned off.
At the public auction held in July, only one mansion — number 3 Saxonwold Drive — found a buyer, going for R3.3 million. That price was 40% below its pre-auction valuation of R5.5 million.
Private Sales Seal the Deal for Remaining Properties
The other two mansions failed to attract bids during the auction and were eventually sold privately.
Park Village Auctions confirmed that the business rescue practitioners accepted these final offers, with all the necessary legal securities now in place.
What Would You Do If You Could Buy One of These Properties?
These homes have a complicated history, but now they’re back on the market with new owners.
Would you consider buying any of them, given the steep discounts and their notorious past?