Former Rupert and Markus Jooste Mansion in Hermanus Sold for R105m

• A historic Hermanus property was sold for R105 million to new property investors
• The estate, located in the Voëlklip area, consists of two plots covering about 7,000 square metres
• Property group Seeff Property Group said the Voëlklip properties are among the most recognisable estates in Hermanus

Justin Williams, a journalist at Briefly News since 2024, covers South Africa’s current affairs. Before joining Briefly News, he served as a writer and chief editor at Right for Education Africa’s South African chapter.

WESTERN CAPE, HERMANUS - A historic coastal property in Hermanus, once owned by the families of Markus Jooste and Johann Rupert, has been sold to investors for R105 million.

Property sold to investors for R105 million

According to BusinessTech, the estate, located in the Voëlklip area, consists of two plots covering about 7,000 square metres and includes extensive gardens and sea views. Jooste, the former chief executive (CEO) of Steinhoff International, led the company when a major accounting scandal emerged. He died in 2024, a day after the Financial Sector Conduct Authority imposed a R475 million fine on him. The Rupert family, regarded as South Africa’s wealthiest, includes Johann Rupert, whose net worth is estimated at about $16 billion (around R260 billion).

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Property group Seeff Property Group said the Voëlklip properties are among the most recognisable estates in Hermanus and have been acquired by investors who view them as long-term strategic holdings. According to Paul Kruger, licensee for Seeff Hermanus, the buyers are exploring several options to optimise the estate in ways that restore and enhance its value while contributing positively to the surrounding community.

Beginning of a new phase for the estate

Kruger said the properties form part of Hermanus's historical landscape and their sale marks the beginning of a new phase for the estate. He added that the investors recognise the significance of the site and its location and intend to approach future development carefully.

He said Hermanus continues to attract strong interest from both local and international investors seeking high-end coastal property, adding that transactions of this scale reflect ongoing confidence in the town's luxury property market. Further details about the future plans for the estate are expected once the investors complete their strategic evaluation.

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Source: Briefly News