Record R53 Million achieved for luxury wine estate auction
Klein Genot Wine & Country Estate, comprising a world-renowned restaurant, award-winning guest house and spa, as well as a state-of-the-art winery and adjoining vineyards, attracted investors from all over the country due to the solid investment opportunity the auction presented.

Bidding started at R20 million and climbed rapidly as an intense bidding war broke out between three interested buyers. The final bid eventually came from Jan Harmse, a Gauteng businessman, who was elated with his purchase.

“Keen investors are astutely aware of the rarity of such an opportunity and, coupled with the benefit of interest rates being at a 27 year low, it was an opportunity that could not be missed. The reputation and potential of the property is considered nothing short of world-class,’’ comments Rael Levitt, auctioneer on the day and CEO of Auction Alliance.

Set in the breathtaking Franschhoek Valley, a mere four kilometres from the main town, the Klein Genot Wine & Country Estate is situated in some of South Africa’s most dramatic surrounds.

Adds Ish Hendricks of Auction Alliance, “We are very pleased with the result. This sale adds to an already impressive collection of auction sales achieved by Auction Alliance across the country this week.’’

The new state of the art 150-ton winery comes complete with valuable imported equipment that proudly rolled out its maiden harvest of red varietals in 2007.

Article from: www.thepropertymag.co.za