Watch VideoMarkus Jooste’s former cliffside Hermanus estate snapped up for R105 million

The Voëlklip estate in Hermanus once owned by former Steinhoff CEO Markus Jooste has been sold for a record R105 million. Seeff Hermanus confirmed the sale of the property, which comprises two adjoining plots measuring about 7,000 square metres with extensive buildings overlooking Walker Bay. The property, long regarded as one of the most prominent private homes in Hermanus, previously formed part of the Rupert family’s property holdings before later being owned by Jooste.

According to media reports, this is the property he was residing in at the time of his death. According to PropertyTime, the most expensive home ever sold in South Africa was for R290m in 2016. That, IOL’s calculations show, would be worth more than R700 million now.

In 2024, after a warrant of arrest was issued,Jooste reportedly took his own lifeat his Hermanus home. Jooste had also been ordered to pay a R475 million fine to the Financial Services Conduct Authority (FSCA) because of being complicit in the publication of misleading financial statements about Steinhoff International Holdings. Jooste,a PwC report has revealed,earned millions each year, which included strategic bonuses of R20 million for some years and, on some occasions, a bonus when he successfully concludes a deal, which was worth as much as R25 million. When it was previously marketed, the estate drew attention for its scale and luxury features, including a heated swimming pool, expansive sea-facing terraces and bespoke interior finishes designed to maximise views across the bay.