Once the pride of ailing businessman Edwin Sodi, this vast mega-mansion in Morningside’s upscale neighborhood has officially gone up for sale, luring potential purchasers with its astounding R75 million price tag. Now a tribute to Sodi’s turbulent journey and a window into the highs and lows of the corporate world, this opulent home is a symbol of luxury and extravagance.
The sale of this legendary property, which is drawing a lot of attention from interested parties, represents a turning point in the story of Sodi and a new era for the home and its mysterious owner.
Property seller Lynn Petzer of Lynn Estates listed the property a week ago, according to a Sunday World story. On Saturday, an auction was held to sell the majority of Sodi’s possessions, which included his vehicles, homes, and business.
The property is listed as having five bedrooms and five bathrooms, with a total area of 4,000 square meters, on the real estate website Propert24.
It is sometimes referred to as the height of luxury located in the center of Sandton, a verdant Johannesburg neighborhood.
A significant insurance company has filed a lawsuit to confiscate a fleet of cars connected to controversial businessman Edwin Sodi’s empire. According to a Sunday World story, the Development Bank of Southern Africa (DBSA) first allotted millions of rands, but those funds have now disappeared.
In order to proceed with the development of a correctional facility project in Parys, Free State, Hollard Insurance, which guaranteed that Sodi’s enterprise would receive funds from DBSA, has petitioned the Johannesburg High Court to be granted permission to auction off nearly one hundred vehicles registered under Sodi’s NJR Projects (NJR).
The application comes after DBSA filed a claim with Hollard Insurance after NJR refused to pay over R39 million in upfront payments.
According to Hollard, NJR bonded its movable assets to guarantee continuous coverage against future insurance company debt claims.
There are several different types of vehicles included in the assets, such as 41 Ford Rangers, 10 Hino trucks, 15 Mazda CX3s, 6 Nissan NP200s, 3 tankers, 3 Toyota bakkies, 8 VW cars, and 5 Bell TLBs.
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