Controversial retreat sold

STELLENBOSCH Mountain Retreat on Helshoogte Pass just outside Stellenbosch has been sold to a South African property developer after the Mauritian liquidators accepted an offer of R17.5 million.

“The liquidators were finally able to bring down the curtain on a matter that had presented many challenges over the past eight years, with no secured offers received until the auction,” said Jonathan Smiedt, CEO of ClareMart Auction Group.

The property is bordered by Tokara Estate on the one side and Delaire Graff on the other.

Smiedt says Stellenbosch Mountain Retreat has approved resort development rights for 15 four-roomed villas, a hotel comprising 10 suites, as well as a conference centre, restaurant and associated infrastructure.