The historic property, located in the prestigious Voëlklip area, spans two plots covering more than 7,000 square metres and offers sweeping views of Walker Bay and the southern Atlantic Ocean.
The estate has long been regarded as one of the most recognisable properties in Hermanus, a town increasingly attracting high-net-worth investors seeking prime coastal assets.
A landmark coastal estate
The property features a 2,082-square-metre Cape Vernacular-style manor house with seven bedrooms, nine bathrooms and expansive reception areas finished with high-end materials.
Additional amenities include a private wine cellar, library, heated indoor swimming pool, heritage cottage, separate flat and ten garages, all set within meticulously maintained gardens overlooking the ocean.
Estate agent Seeff Property Group, which handled the sale, described the estate as a landmark property in one of Hermanus’s most exclusive residential enclaves.
Links to Markus Jooste and the Steinhoff scandal
The estate was previously linked to Markus Jooste, the former chief executive of retail giant Steinhoff International, whose leadership ended after the company’s massive accounting scandal came to light in 2017.
Once regarded as one of South Africa’s most powerful corporate executives, Jooste’s reputation collapsed following revelations that became one of the largest corporate fraud scandals in Africa’s financial history.
Jooste died in 2024 at the age of 63, a day after South Africa’s Financial Sector Conduct Authority (FSCA) imposed a R475 million penalty (about $29 million) against him for financial misconduct related to the Steinhoff collapse.
Authorities said his death from a gunshot wound in Hermanus, near Cape Town, came shortly after he had been informed of an arrest warrant linked to the case.
According to Moneyweb, South Africa’s Reserve Bank (SARB) had earlier obtained a High Court order in 2022 to attach Jooste’s assets over suspected breaches of exchange control regulations.
As a result, the central bank is expected to be among the main beneficiaries of the proceeds from the sale of the property.
Rupert family connection
The property has also historically been linked to the Rupert family, South Africa’s wealthiest family.
Johann Rupert, chairman of luxury goods group Richemont, has an estimated net worth of about $16 billion (R300 billion), according to wealth estimates.
The Rupert family has long maintained significant property and business interests in the Western Cape.
Investors eye long-term potential
Seeff Hermanus said the buyers are a group of investors who see the estate as a long-term strategic investment.
“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,” said Paul Kruger, licensee for Seeff Hermanus.
“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.”
Kruger said the new owners are evaluating several options to enhance the value of the estate while ensuring it contributes positively to the surrounding community.
“Several possibilities are currently being considered to ensure that the estate’s future positioning is approached in a responsible and considered manner,” he said.
