The Voëlklip estate in Hermanus once owned by former Steinhoff CEO Markus Jooste has been sold for a record R105 million.
Image: Supplied
The Voëlklip estate in Hermanus once owned by former Steinhoff CEO Markus Jooste has been sold for a record R105 million.
Seeff Hermanus confirmed the sale of the property, which comprises two adjoining plots measuring about 7,000 square metres with extensive buildings overlooking Walker Bay.
The property, long regarded as one of the most prominent private homes in Hermanus, previously formed part of the Rupert family’s property holdings before later being owned by Jooste.
According to media reports, this is the property he was residing in at the time of his death.
According to PropertyTime, the most expensive home ever sold in South Africa was for R290m in 2016. That, IOL’s calculations show, would be worth more than R700 million now.
In 2024, after a warrant of arrest was issued, Jooste reportedly took his own life at his Hermanus home.
Jooste had also been ordered to pay a R475 million fine to the Financial Services Conduct Authority (FSCA) because of being complicit in the publication of misleading financial statements about Steinhoff International Holdings.
Jooste, a PwC report has revealed, earned millions each year, which included strategic bonuses of R20 million for some years and, on some occasions, a bonus when he successfully concludes a deal, which was worth as much as R25 million.
When it was previously marketed, the estate drew attention for its scale and luxury features, including a heated swimming pool, expansive sea-facing terraces and bespoke interior finishes designed to maximise views across the bay.
The home includes large open-plan living areas, multiple entertainment spaces and landscaped gardens surrounding the property. Floor-to-ceiling windows and wide terraces are positioned to capture the ocean views from the elevated Voëlklip site.
The estate sits in one of Hermanus’s most sought-after coastal suburbs, known for large luxury homes overlooking Walker Bay and within walking distance of the coastline and cliff paths.
Paul Kruger, licensee for Seeff Hermanus, said the sale marked a significant moment for the town’s 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,” he said.
One of the seven bedrooms
Image: Screenshot
The heated indoor pool
Image: Screenshot
The buyers are investors who plan to hold the property as a long-term asset and are assessing options to optimise the estate while restoring and enhancing its value.
“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 Hermanus continued to attract strong interest from both South African and international buyers seeking 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.
Hermanus has increasingly become a destination for second homes and luxury property development, driven by its coastal setting and relative proximity to Cape Town, which is about two hours away by road.
Demand from wealthy buyers has increased in recent years. The New World Wealth Report previously indicated that the town has seen a 25% increase in high-net-worth individuals relocating there, outpacing growth in other Western Cape regions.
Property sales above R5 million in Hermanus have more than doubled over the past few years as demand for coastal homes strengthened.
Exclusive suburbs such as Kwaaiwater and Voëlklip have recorded transactions ranging from more than R20 million to around R40 million – with the R105 million Voëlklip estate now setting a new benchmark for the town’s luxury residential market.
When it was previously marketed, the estate drew attention for its scale and luxury features, including a heated swimming pool, expansive sea-facing terraces and bespoke interior finishes designed to maximise views across the bay.
Image: Supplied
“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.
Hermanus has increasingly become a destination for second homes and luxury property development, driven by its coastal setting and relative proximity to Cape Town, which is about two hours away by road.
Demand from wealthy buyers has increased in recent years. The New World Wealth Report previously indicated that the town has seen a 25% increase in high-net-worth individuals relocating there, outpacing growth in other Western Cape regions.
Property sales above R5 million in Hermanus have more than doubled over the past few years as demand for coastal homes strengthened.
Exclusive suburbs such as Kwaaiwater and Voëlklip have recorded transactions ranging from more than R20 million to around R40 million – with the R105 million Voëlklip estate now setting a new benchmark for the town’s luxury residential market.
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