The R70 million price tag may be too high, but former Abil CEO Leon Kirkinis’ luxury home in False Bay is exquisite. And possible that these types of extravagant plays may have fuelled Judge John Myburgh’s report into the collapsed lender, which described Kirkinis as a misguided, arrogant man. The ‘glass house’ has been on the market for two years, and will now go under the High Street Auctions hammer. – Stuart Lowman
By Carin Smith and Adiel Ismail
Johannesburg – The luxury home of former African Bank CEO Leon Kirkinis, who is believed to have sketched the concept of the beach house on a serviette in a Hermanus restaurant, will be auctioned off by High Street Auctions in July.
The ultramodern mansion, also referred to as the “glass house” because of its distinct architectural nature, is situated high on cliffs overlooking the ocean off Rocklands Road in Rooi Els in the Western Cape.
The property has been on the market for the last two years for R70m, Joff van Reenen, lead auctioneer, told Fin24.
“We will be auctioning it off to the highest bidder on 28 July 2016 and we have set the opening bid at R20m,” he said. “We have had interest from the USA, Europe and South Africa.”
The house on the spectacular False Bay coastline offers 360 degree views, has four en suite bedrooms, a pool and Jacuzzi on the deck, a gym, underfloor heating and six automated garages. It even has automated blinds on all windows and hydraulic shutters on all sides, according to the auction brochure of High Street Auctions.
It has been on the market for a while without attracting the R70m price tag, which is why the auction option is now going to be tried.
Acquire Africa property agents marketed the house on their website in May 2014 as a holiday home.
“The home is a combination of a luxury lifestyle in the heart of nature,” said the advertisement at the time.
It pointed out that the home was built to the highest standards and level of ecological sensitivity, and was constructed to have the minimum impact on the surrounding environment.
However, when construction started residents in the area were said to be opposed to it.
The house, which took four years to build, went on to claim an award in the residential category in the 2013 Steel Awards for its structural steel construction.
One of the judges, Heather Dodd, representing the South African Institute of Architects, said: “This is a project that just exudes excellence, something we have come to expect from the work of the professional team involved.”
Describing the house, she said: “It is designed as a long, thin glass box with a timber deck wrapping around its exterior. Internally the box is divided by bathroom pods and sliding doors which separate the living spaces from the bedroom areas.”
The developer is listed as Upbeat Properties 167, while the architects were Elphick Proome Architects and the interior was designed by Elphick Proome Interiors.
Johannesburg businessman Kirkinis resigned from African Bank a few days before it was placed under curatorship. – Fin24
