Inside Markus Jooste's Hermanus mega estate
Image: Supplied
A prominent estate in Hermanus's Voëlklip area, previously owned by former Steinhoff CEO Markus Jooste, has been listed for sale.
IOL has confirmed Jooste's connection to the property, which is expected to fetch upwards of R100 million.
It offers a distinguished location with uninterrupted, panoramic views of Walker Bay, globally renowned for its spectacular whale-watching. Paul Kruger, licensee for Seeff Hermanus, describes it as a "legacy property," and one of the most significant coastal residential holdings, a rare investment opportunity.
A source close to the sale says this home was where Jooste walked down the cliff path and took his own life.
The house was later attached by the South African Reserve Bank in execution of a debt judgment, although the bank did not go through with an attempted sale earlier this year as the price was not high enough.
The estate occupies nearly 7,000 m² of prime coastal land, an unusually large double plot with uninterrupted views of Walker Bay. The boundary wall stretches at least 500 meters, highlighting the property's significant scale and privacy.
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The main residence measures 2,082 square meters and includes seven bedrooms, three lounges, and 10 garages among other rooms. Additional structures include a 259m² 'Heritage Cottage' and a separate flatlet.
The house is built in Cape vernacular style, with high ceilings and large reception areas.
'Due to the high profile of the property, the sale will be managed with the discretion and professionalism that a property of this caliber demands,' Seeff said.
Due to the high profile of the property, the sale will be managed with the discretion and professionalism that a property of this calibre demands.
One of the seven bedrooms
Image: Screenshot
Jooste, at the center of South Africa's largest corporate scandal, reportedly died by suicide in 2024 at this home. The Financial Services Conduct Authority is pursuing a R475 million penalty against his estate, which could include proceeds from the sale.
According to a PwC investigation, Jooste earned millions annually, with bonuses up to R20 million in some years and up to R25 million for individual deals. Many of these deals were later found to be fictitious, contributing to Steinhoff's financial collapse.
The most expensive home ever sold in South Africa went for R290 million in 2016, which IOL estimates is worth around R722 million today after inflation adjustments.
The heated indoor pool
Image: Screenshot
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The South African
a day ago
- The South African
Win the PowerBall jackpot and Markus Jooste's Hermanus mansion could be yours!
Ever dreamed of living like a billionaire? If you're the lucky winner of Friday's PowerBall jackpot, that dream could become a reality – including the chance to own Markus Jooste's former R105 million mansion in Hermanus. With the PowerBall and PowerBall Plus jackpots now sitting at a combined R139 million, South Africans are lining up for tickets, and for good reason: this week's winner could walk away with enough to buy one of the most exclusive homes in the country – and still have millions to spare! The property, owned by the late Markus Jooste, is in Voëlklip, Hermanus's most prestigious enclave. With panoramic views of Walker Bay, a sprawling 7 000 square metre double plot, and a Cape-style manor house with multiple residences, it's a luxury sanctuary. 'This is not just a home – it's a piece of South African coastal heritage,' says Paul Kruger, licensee for Seeff Hermanus. The estate is expected to break sales records – and could be snapped up by a freshly minted millionaire from Friday's draw. Markus Jooste, former Steinhoff CEO, committed suicide in 2024 amid the fallout from South Africa's largest corporate scandal. ITHUBA, the official lottery operator, has urged South Africans to get their tickets via retailers, mobile, or online platforms before the Friday, 1 August draw. 'To win, you need to play,' ITHUBA said – and with R139 million on the line, even the most luxurious lifestyles suddenly seem within reach. Whether you dream of a new life by the sea or just paying off debt, Friday's jackpot offers more than cash – it offers endless possibility. Friday's PowerBall and PowerBall Plus draws will take place from 20:58. The PowerBall jackpot draw required players to pick five main numbers from 1 to 50 and one 'PowerBall' number from 1 to 20 for an entry fee of R5.00 per board. Draws take place every Tuesday and Friday. The record prize for any lottery game in South Africa came in the PowerBall when one winner scooped an incredible R232 131 750.69 in the draw held on 19 February 2019. PowerBall Plus is exactly the same as PowerBall but gives players a second chance to win. When buying a PowerBall ticket, players can pay an extra R2.50 per board to enter the PowerBall Plus draw. Odds are the same, while prizes are usually slightly lower. It was introduced on 28 November 2015 by the National Lottery of South Africa. If you are buying tickets from a lottery outlet, they close at 20:30 on the day of a draw. Players must be 18 years old. All images via Seeff Properties Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
IOL News
a day ago
- IOL News
Inside Markus Jooste's Hermanus mega estate
The Voëlklip home at the center of a new Markus Jooste buzz. Image: Supplied A prominent estate in Hermanus's Voëlklip area, previously owned by former Steinhoff CEO Markus Jooste, has been listed for sale. IOL has confirmed Jooste's connection to the property, which is expected to fetch upwards of R100 million. It offers a distinguished location with uninterrupted, panoramic views of Walker Bay, globally renowned for its spectacular whale-watching. Paul Kruger, licensee for Seeff Hermanus, describes it as a "legacy property," and one of the most significant coastal residential holdings, a rare investment opportunity. A source close to the sale says this home was where Jooste walked down the cliff path and took his own life. The house was later attached by the South African Reserve Bank in execution of a debt judgment, although the bank did not go through with an attempted sale earlier this year as the price was not high enough. The estate occupies nearly 7,000 m² of prime coastal land, an unusually large double plot with uninterrupted views of Walker Bay. The boundary wall stretches at least 500 meters, highlighting the property's significant scale and privacy. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading The main residence measures 2,082 square meters and includes seven bedrooms, three lounges, and 10 garages among other rooms. Additional structures include a 259m² 'Heritage Cottage' and a separate flatlet. The house is built in Cape vernacular style, with high ceilings and large reception areas. 'Due to the high profile of the property, the sale will be managed with the discretion and professionalism that a property of this caliber demands,' Seeff said. Due to the high profile of the property, the sale will be managed with the discretion and professionalism that a property of this calibre demands. One of the seven bedrooms Image: Screenshot Jooste, at the center of South Africa's largest corporate scandal, reportedly died by suicide in 2024 at this home. The Financial Services Conduct Authority is pursuing a R475 million penalty against his estate, which could include proceeds from the sale. According to a PwC investigation, Jooste earned millions annually, with bonuses up to R20 million in some years and up to R25 million for individual deals. Many of these deals were later found to be fictitious, contributing to Steinhoff's financial collapse. The most expensive home ever sold in South Africa went for R290 million in 2016, which IOL estimates is worth around R722 million today after inflation adjustments. The heated indoor pool Image: Screenshot
The South African
a day ago
- The South African
Markus Jooste's Hermanus home hits the market
A landmark property in Hermanus owned by the Rupert family and the late former Steinhoff CEO Markus Jooste has been listed for sale at a staggering R105 million – a figure expected to break sales records along the Whale Coast. Located in the prestigious Voëlklip area, the estate sits within one of Hermanus's most exclusive enclaves and boasts panoramic views of Walker Bay, famed globally for its whale-watching. The listing is being managed by Seeff Properties, which described it as a 'legacy property' and 'one of the most significant coastal residential holdings' in the region. According to Paul Kruger, licensee for Seeff Hermanus, the estate spans 7 000 square metres across a rare double plot – an offering that is 'virtually unheard of' in the high-demand Voëlklip suburb. The estate comprises a manor house with bespoke interiors and multiple additional residences, all styled in the elegant Cape vernacular tradition. 'This property offers unmatched space, privacy, and grandeur,' Kruger said, adding that its history imbues it with 'a rich heritage of understated elegance and a deep connection to Hermanus's pristine natural beauty.' The estate previously served as a holiday retreat for the Rupert family, one of South Africa's most influential business dynasties. However, Seeff confirmed that Markus Jooste, the disgraced former CEO of Steinhoff International, also held ownership. Jooste committed suicide in 2024, shortly after receiving a R475 million administrative penalty from South Africa's Financial Sector Conduct Authority (FSCA) in the wake of Steinhoff's corporate collapse due to financial misconduct. With its exceptional location, scale, and history, the property is expected to attract significant interest from high-net-worth buyers, both local and international. Its R105 million price tag positions it to set a new record for residential sales in Hermanus. 'This is not just a home – it's a piece of South African coastal heritage,' Kruger added. All images via Seeff Properties Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
