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Ex-Minister's luxury home to be auctioned in South Africa
09 Feb 2011 at 15:43hrs | Views
One of two luxury homes owned by former Zimbabwean finance minister Christopher Kuruneri in an exclusive suburb is to be sold by auction.
Kuruneri was relieved of his cabinet position after it was revealed that he spent millions nearly a decade ago purchasing two homes in Llandudno, Cape Town - a suburb popular with movie stars and wealthy businessmen.
One of the houses, a six-bedroom double-storey overlooking the beach, will go under the hammer on Thursday.
The home boasts unspoilt views of the ocean , but its former tenants complained of mou ld and damp.
The tenants, a German couple, packed up and left the Apostle Road home last year.
Kuruneri purchased the house for R5-million in 2002 and spent another R1-million on renovations.
The former minister is reportedly selling the house to raise cash to fund the completion of his second home in the suburb - a four-storey mansion in nearby Sunset Avenue.
However, property developer Chris Hayman, who looks after Kuruneri's home in South Africa, refused to say if the auction was being held to raise cash for the Sunset Avenue property.
"That's a decision my client will have to make," he said.
Building work on the Sunset Avenue property came to a halt when Mugabe charged Kuruneri with breaking Zimbabwe's strict exchange-control laws by purchasing the two properties.
Kuruneri was acquitted of the charges, which he vehemently denied, in 2007.
Kuruneri approached Cape-based auctioneer Andrew Koch two months ago in a bid to rid himself of the property.
The luxury home has been on the market since about 2008.
Besides the two mansions in Llandudno, Kuruneri owns a R2.5-million flat in Sea Point.
Describing the house up for auction this week, Koch said: "It's a modernly styled house on the outside but it has got quite nice and soft features on the inside.
"The idea behind the auction is to get the best cash offer from the market, which is what the owner wants to consider," Koch said.
"He is a genuine seller, he really wants to sell."
No reserve has been put on the price.
Kuruneri was relieved of his cabinet position after it was revealed that he spent millions nearly a decade ago purchasing two homes in Llandudno, Cape Town - a suburb popular with movie stars and wealthy businessmen.
One of the houses, a six-bedroom double-storey overlooking the beach, will go under the hammer on Thursday.
The home boasts unspoilt views of the ocean , but its former tenants complained of mou ld and damp.
The tenants, a German couple, packed up and left the Apostle Road home last year.
Kuruneri purchased the house for R5-million in 2002 and spent another R1-million on renovations.
The former minister is reportedly selling the house to raise cash to fund the completion of his second home in the suburb - a four-storey mansion in nearby Sunset Avenue.
However, property developer Chris Hayman, who looks after Kuruneri's home in South Africa, refused to say if the auction was being held to raise cash for the Sunset Avenue property.
"That's a decision my client will have to make," he said.
Building work on the Sunset Avenue property came to a halt when Mugabe charged Kuruneri with breaking Zimbabwe's strict exchange-control laws by purchasing the two properties.
Kuruneri was acquitted of the charges, which he vehemently denied, in 2007.
Kuruneri approached Cape-based auctioneer Andrew Koch two months ago in a bid to rid himself of the property.
The luxury home has been on the market since about 2008.
Besides the two mansions in Llandudno, Kuruneri owns a R2.5-million flat in Sea Point.
Describing the house up for auction this week, Koch said: "It's a modernly styled house on the outside but it has got quite nice and soft features on the inside.
"The idea behind the auction is to get the best cash offer from the market, which is what the owner wants to consider," Koch said.
"He is a genuine seller, he really wants to sell."
No reserve has been put on the price.
Source - Byo24News
