Malema’s mansion goes for R3.5m

Julius Malema's house in Sandown. Photo: Adrian de Kock

Julius Malema's house in Sandown. Photo: Adrian de Kock

Published Dec 1, 2013

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Johannesburg - Economic Freedom Fighters leader Julius Malema’s half-built Sandown mansion was auctioned off again this week.

It fetched R3.5 million – R100 000 less than he paid for it four years ago. This will go towards his R16.5m tax bill. The sale will, however, only be finalised on December 19, when the auction’s confirmation period ends.

It is the second time Malema’s house has been auctioned.

In September Gauteng businessman Norman Tloubatla had to cancel the bid for the house because he did not have the R5.9m he had offered in May. He forfeited his R1m deposit.

 

Bidders Choice auctioneer Pieter Geldenhuys would not disclose the latest buyer, who had asked to remain anonymous, but said this week’s auction was “a lot quieter”.

“ Most were serious buyers, without the family and friends. They were not there for the show,” Geldenhuys said.

When Malema’s house first went on auction in May, it attracted a large crowd of buyers, media representatives and onlookers.

Geldenhuys said in May there were up to 70 people. On Thursday, there were 25 to 30 people at the auction but only four bidders.

“It was good, open and transparent like the last time. You could see who you were bidding against,” Geldenhuys said.

The new owner will have to complete the cinema, cigar lounge, wine cellar, coffee bar, showroom garage, spa bath and a strongroom.

He will, however, be quite pleased with his stunning rooftop view of Sandton. Malema bought the mansion for R3.6m in 2009.

But according to the South African Revenue Service (Sars), the property was valued at R7.1m and an amount of R5.8m was paid to the building contractor in respect of the work done on the premises.

Sars used the details in its application to have Malema sequestrated in the Pretoria High Court earlier this year.

Malema has since been placed under curatorship.

Sars spokesman Adrian Lackay said the revenue service did not wish to comment on the sale.

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Sunday Independent

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