Steinhoff’s Markus Jooste puts luxury Cape property on the market
The former Steinhoff CEO is asking R15m for the property in an effort to remain liquid ‘for legal fees or just to keep everything ticking over’
Steinhoff International Holdings’ former CEO Markus Jooste has put a plot on a luxury estate up for sale, asking R4.5m more for the property than the embattled businessman paid for it two years ago. Jooste bought 978 at Val de Vie, a sprawling Western Cape residence with vineyards and space for 10 horses, for R10.5m and is trying to sell it for R15m, according to the Val de Vie’s interactive sales map. He bought the estate in December 2015, the same month the global retailer moved its main listing to Frankfurt from Johannesburg, the state registry shows. The sale indicates that Jooste is trying to raise cash following his resignation from Steinhoff at the start of an accounting scandal six weeks ago. Mayfair Speculators, of which he was, until recently, a director, sold champion racehorse Legal Eagle last month, according to the Sporting Post. Jooste is a known horse racing fanatic, and Val de Vie is an equestrian estate that’s hosted Prince Harry for polo matches. Adding to its cel...
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