Monday, October 22

Kloof mansion draws keen interest

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Captains of Durban industry buzzing about sale of palatial nine-bedroom abode

There has been strong interest from both potential owner-occupiers and developers in the auction of a palatial nine-bedroom mansion in Kloof by Ian Wyles Auctioneers on May 29 – with corporate leaders among those ready to start the bidding.

The sale of the enormous dwelling will start at 11am on site at 74 Haygarth Road.

Ian Wyles, chief executive of the auction house, says the 4ha properties like this one – with expansive grounds that in many ways resemble an estate – rarely come up on auction.

“The mansion and grounds have belonged to the same family for 32 years and have come on the market only because the family has decided to downscale.

“The huge grounds could be subdivided or developed further. Some clients envisage the mansion as a large family home with long-term investment potential, while others are looking to acquire the site to build more properties on the land for rental or for their children to eventually occupy.”

Wyles says the multimillion-rand property has so far attracted the interest of top income-earners such as CEOs of large national corporates. Ian Wyles Auctioneers has simply been instructed to present the highest offer to the owners for consideration, and Wyles was not prepared to predict what this amount was likely to be.

“However, this sale has not gone unnoticed.

“The fact that the sellers of such a luxury, spectacular residence chose to take the auction route for disposal has sparked a noticeable increase in interest from other property owners now also considering auction as the best way to determine what buyers would be prepared to pay for their assets.

“We have also learnt that the buzz around the sale of this property has led to estate agents now recommending the auctioning of property as ideal for this stage of the economy.”

Wyles says for auction companies the challenge of selling such an opulent homestead lies mainly in the fact that there are simply fewer buyers with the financial means to bid on such a property.

“So, with any truly opulent house, the inherent factors an auctioneer and buyer must consider are the banks’ willingness to provide mortgages and the cost of any renovation work.”

The mansion to be sold on May 29 features:

* Nine bedrooms (seven en suite).

* Three lounges.

* A large dining room.

* A billiard room.

* A bar leading to covered patio with heated plunge pool.

* Two studies.

* A fully-fitted kitchen.

* Spacious basement living, incorporating a private gym.

* A swimming pool with enclosure for Jacuzzi, steam bath and sauna.

* A tennis court and two double garages.

In addition, there is luxury staff accommodation with kitchen, ablution facilities and two more bedrooms.

To arrange viewing and for more details, phone 0826019278 or 0315794403 or andrew@ianwyles.co.za, or visit www.ianwyles.co.za

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