The luxury multi-million rand Johannesburg mansion of top Zimbabwean businessman James Makamba was auctioned off for R36.5m on Thursday.
The Villa Royale, an ultra-exclusive boutique hotel, on Coronation Road in Sandhurst, Gauteng was auctioned off as a result of a court order.
Makamba who owned the double-storey manor is believed to owe Absa bank's wealth unit R59m in debt as a result of mortgage, credit card and vehicle financing accounts, Fin24 reported previously.
According to a statement from High Street Auctions issued earlier this month, Villa Royale was on the market for over a year before the financial institution took control and ordered the auction. Bids started at R25m.
The property 1 650m² in size, has open air parking for nearly two dozen vehicles, five luxury suites, a wine cellar, a "state of the art" gym, a 13-seater cinema with reclining leather arm chairs, a cigar lounge, a spa and games room. The flooring is marble and apart from staircases there is an elevator between storeys.
Here's what the manor looks like:
The mansion is approximately 1 650m² in size set in expansive grounds of nearly 2 300m².
The opening bid was R25m, and the manor was sold for R36.5m.