Wine estate sold for a record price

An entire wine estate situated in Franschhoek has just gone under the Auction Alliance hammer for a staggering R53 million, in what is considered one of the biggest auctions ever to take place in the Western Cape.

Klein Genot Wine & Country Estate, comprising a world-renowned restaurant, award-winning guest house and spa, as well as a state-of-the-art winery and adjoining vineyards, attracted investors from all over the country due to the solid investment opportunity the auction presented. Bidding started at R20 million and climbed rapidly as an intense bidding war broke out between three interested buyers. The final bid eventually came from Jan Harmse, a Gauteng businessman, who was elated with his purchase.