Will Kyalami fetch R200m?

2014-07-24 08:49

The Kyalami race circuit, which has been liquidated, will be auctioned in Hyde Park, Joburg, today.

The world-famous racetrack has hosted racing greats including Ayrton Senna, Nigel Mansell and Alain Prost.

Farm Bothasfontein, better known as Kyalami, is a 72-hectare property in Midrand.

The High Street Auction Co, which is conducting the auction, has said that the Kyalami auction would be the country’s first race track auction.

Last Thursday, the company’s joint managing director Lance Chalwin-Milton said in a statement that the auction would go ahead, following a court application seeking to prevent it.

Eleven applicants had contended that they had certain rights to the Kyalami track, but these claims were either waived by agreement or abandoned.

The court ordered that the auction proceed, but the reserve price was revised to R200 million from R129 million. It was previously reported that there would be no reserve.

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