A neighbouring vacant stand of over 9,000sqm, also belonging to the Baroness, was sold at the same auction for R4m.
It came under the hammer after a provisional sequestration order was set aside by the Cape High Court in November 2009 and Standard Bank, which is owed R45m.
The auction, which took place at the mansion overlooking the Constantia Valley, attracted over 400 buyers from across the country and from abroad. Also on offer were 300 items of the Baroness' personal effects, including a collection of antique furniture, a century-old Bible, Tin Tin posters, jewellery, gym equipment and kitchen appliances, to name a few. The total sale amounted to nearly R20m.
"We were slightly disappointed in the price of the property, which we believe is on the low side, but the sale is subject to confirmation and we are already chatting to several local and offshore bidders," says Alliance chief executive, Rael Levitt.
The Baron and Baroness moved into the controversial Constantia Heights property in October 2002, where the couple hosted exclusive and lavish parties in the antique-filled home. The 1,200sqm mansion boasts several spacious en suite bedrooms, an internal lift, which goes down to the an indoor swimming pool, as well as an entertainment area, library, conservatory, wine cellar, gym, sauna, cottage and garaging for six cars.
"The property had been on the market for some time, but the sale we conducted today was on behalf of the bondholder and we attracted hordes of people. To us, the market has spoken. As in so many of these high profile sales, we will look back in a few years time and realise what an excellent investment this has been."
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