South Africa: Kirkinis Says No Thanks to R30 Million for His ‘Glass House’

Former African Bank CEO Leon Kirkinis has declined a R30m offer for his mansion in Rooi Els, Fin24’s sister publication Netwerk24 reported.

Joff van Reenen, director and chief auctioneer at High Street Auctions, reportedly confirmed that Kirkinis had refused the highest offer achieved at auction on Thursday.

Kirkinis had five days to decide whether he was prepared to accept R30m for his ultramodern luxury False Bay coastal home on the cliffs in Rooi Els in the Western Cape.

A spokesperson of High Street Auctions told Fin24 last Thursday the opening bid was R20m and the highest bid for the so-called “glass house” was R30m. The property has been on the market for R70m for the last two years.

Van Reenen told Netwerk24 they will now put the mansion back on the market.

It is believed Kirkinis sketched the concept of the beach house on a serviette in a Hermanus restaurant.

The house 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.

The house, which took four years to build, claimed an award in the residential category in the 2013 Steel Awards for its structural steel construction.

Johannesburg businessman Kirkinis resigned from African Bank a few days before it was placed under curatorship.