R105 million later: Voëlklip estate in Hermanus changes hands—who's the lucky buyer?
The historic Voëlklip estate in Hermanus, previously associated with the Rupert family and later linked to former Steinhoff CEO Markus Jooste, has been sold for R105 million in one of the town’s biggest residential property deals.
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The historic Voëlklip property in Hermanus linked to former Steinhoff chief executive Markus Jooste has been sold for R105 million, in what Seeff says is one of the most significant residential property transactions recorded in the town.
The deal, concluded by Seeff Hermanus, includes two adjoining plots totalling about 7,000 square metres with extensive buildings in the seaside suburb of Voëlklip, one of Hermanus’s most sought-after residential areas overlooking Walker Bay.
Jooste, the former chief executive of Steinhoff, was at the centre of one of South Africa’s biggest corporate scandals after the retail group collapsed in 2017 amid revelations of accounting irregularities that wiped billions of rand off its market value. The Financial Sector Conduct Authority later imposed a R475 million administrative penalty on him for publishing misleading financial statements.
Jooste died near his Hermanus home in March 2024, a day before he was due to be arrested in connection with the Steinhoff investigation.
Paul Kruger, licensee for Seeff Hermanus, said the sale marked a milestone moment for the local property market.
“These properties form part of the historical fabric of Hermanus, and their sale marks the beginning of a new chapter for a truly iconic estate,” Kruger said.
He said the buyers were investors who view the property as a long-term strategic holding.
“The investors recognise both the significance of the properties and the exceptional setting of Voëlklip, and firmly view the properties as a long-term strategic investment,” he said.
“Several possibilities are currently being considered to ensure that the estate’s future positioning is approached in a responsible and considered manner.”
The estate spans a rare double plot in Voëlklip and includes extensive buildings. Properties of this scale overlooking Walker Bay are uncommon in the coastal town.
Kruger said Hermanus continued to attract strong interest from local and international buyers seeking high-end coastal property.
“Hermanus remains one of South Africa’s most desirable coastal destinations. Transactions of this nature reaffirm the long-term confidence investors have in the town and the continued strength of its luxury property market,” he said.
Further details on the future plans for the estate are expected once the investors have completed their strategic evaluation.