Bidder offers R34m for island

2013-04-12 10:06
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Johannesburg - A bidder has offered R34 million for a Greek island owned by a South African resident, The Star reported on Friday.

The anonymous proxy bidder made the offer for Sofia, a gourd-shaped 17.5 hectare island nestling between Greece and Italy, before an auction on Thursday, the newspaper reported.

The price was not outbid, and the sale would stand if no one came forward in the next seven days.

Auction Avenue director Greg Hanna, who is in charge of the sale of the island, said: "This is the first one in South Africa."

Europa Shipping Trust is selling the island on behalf of Kostas Kostantinos, who is Greek but based in South Africa.

The publication reported that Kostantinos and his sister had a fight over ownership and decided auctioning it would be the most appropriate course of action.

Sofia is uninhabited and undeveloped, with permits to build six villas. There is no electricity, but the island produces its own fresh water.

- SAPA
Read more on:    travel international
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