23 November 2017

South Africa: Tshwane Mayoral Mansion Fetches R5 Million At Auction

The City of Tshwane's mayoral mansion has gone under the hammer on Thursday for just over R5.1m - money which is expected to be used for low-cost housing for 40 families.

The four-bedroom mansion, situated in the upmarket suburb of Muckleneuk, was sold after "spirited bidding" at High Street Auctions' final sale of the year.

Mayor Solly Msimanga previously said the ANC administration spent R12m to "renovate" the house, despite the latest valuation on the property indicating it was worth R5m.

Msimanga was at the auction and made a plea for bidders to be generous, explaining that he had already committed the money to housing for the people of Tshwane.

"Whatever we can get - R5m or more, we'd be grateful."

Tshwane's full council voted recently to dispose the opulent property in which Msimanga has refused to live. Among the reasons cited were the substantial cost to ratepayers of maintaining the property and the council's desire to utilise the funds for the construction of low-income housing.

The hammer dropped at R5.1m in a sale that - in total - took less than two minutes to conclude.

The buyer, who chose to remain anonymous, said the property was an "investment purchase".

Addressing the media after the auction, Msimanga said: "The house was previously valued so we knew roughly what we would get at auction. This money will allow at least 40 less fortunate families to have decent roofs over their head."

Msimanga said the municipality had not yet decided whether to allocate all the funds to one area or split the proceeds across several regions, but said the media would be invited to tour the building sites before the end of the city's financial year in mid-2018.


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