David Makhura Bryanston mansion was bought in 2004 for R11.5 million but further renovations costing an additional R4 million were made to the mansion.
Gauteng Premier David Makhura official residence in Bryanston, Sandton went under the hammer. The mansion was bought in 2004 for R11.5 million but further renovations costing an additional R4 million were made.
The Premier residence is located on Eccleston Crescent, Bryanston - which according to Propstats and Lightstone is among the top 22 wealthiest streets in South Africa, where houses sell for an average R20 million.
David Makhura decided not to stay at the house upon his appointment as the premier.
The house was auctioned for a starting price of R9 million. However, the former official residence of the premier of Gauteng was sold for almost R18 million - just shy of double the auction reserve price.
The house in Bryanston, which was meant to be the official residence of premier David Makhura but he chose not to occupy it, went on auction with a starting bidding price of R9.25 million. The reserve price was R9 million. The house was sold for R17.75 million.
See the pictures below.
Source : Times Live.
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