In the affluent neighborhood of Morningside, a sprawling mega-mansion, once the pride of troubled businessman Edwin Sodi, has officially been listed on the market, beckoning potential buyers with its jaw-dropping price tag of R75 million. This lavish estate, emblematic of luxury and opulence, now stands as a testament to Sodi’s tumultuous journey, offering a glimpse into the highs and lows of the business world.
As interested parties flock to explore this iconic property, its sale marks a pivotal moment in Sodi’s narrative and signals a new chapter for both the mansion and its enigmatic owner.
According to a Sunday World report property seller Lynn Petzer of Lynn Estates listed the property a week ago. Most of Sodi’s properties were sold at an auction on Saturday, including his cars, houses, and company.
According to the listing on the real estate website Propert24, the house is 4 000 square metres in size and has five bedrooms and five bathrooms.
It is also described as the epitome of luxury in the heart of Sandton, a leafy suburb in Johannesburg.
Also read: Insurance Giant Seeks Court Order To Seize Vehicles Linked To Edwin Sodi’s Company
A major insurance corporation has sought legal action to seize a fleet of vehicles linked to the business empire of Edwin Sodi, a figure known for controversy. The move comes after millions of rands, originally allocated by the Development Bank of Southern Africa (DBSA), vanished, according to a Sunday World report.
Hollard Insurance, which provided guarantees for Sodi’s enterprise to receive funds from DBSA for the advancement of a correctional facility project in Parys, Free State, has petitioned the Joburg High Court for authorization to auction off nearly 100 vehicles registered under Sodi’s NJR Projects (NJR).
The application follows NJR’s failure to reimburse DBSA for over R39 million in upfront payments, prompting DBSA to seek reimbursement from Hollard Insurance.
Hollard stated that NJR had placed a bond on its movable assets to provide ongoing coverage for any potential debt claims by the insurance company.
The assets encompass a variety of vehicles, including five Bell TLBs, a BMW X3, two Chevrolet Utility vehicles, a Ford Fiesta, 41 Ford Rangers, 10 Hino trucks, 15 Mazda CX3s, four Mercedes-Benz vehicles, six Nissan NP200s, three tankers, three Toyota bakkies, and eight VW vehicles.