Johannesburg - The building that housed media outlets previously owned by the Gupta family has been sold for R29.5 million.
Located in Midrand, the building visible from the M1 North became the first item to go under the hammer as properties of the companies formerly known as The New Age and ANN7 were auctioned on Wednesday.
Bidding for the building with three semi-detached warehouses started at R20m. Auction attendees slugged it out until the successful bidder's R29.5m offer was accepted.
The Star reported last week that the auctioneers, Park Village Auctions, had expected it to fetch between R30m and R35m.
The media outlets, which the Guptas eventually sold to former government spokesperson Mzwanele Manyi for R300-million through vendor financing, have been liquidated, thus the auction.