Hermanus landmark estate sold for R105m in record deal

• A historic Voëlklip estate linked to the Rupert family and Markus Jooste has sold for R105 million, one of Hermanus’ largest residential transactions.
• The 7,000m² double stand was acquired by investors viewing the property as a long-term strategic coastal asset.
• Hermanus continues attracting high-net-worth buyers, with luxury property demand surging across the Western Cape coastline.

A landmark sale for Hermanus

‍Seeff Hermanus has concluded one of the most significant residential property transactions in the town’s history with the R105 million sale of the historic Voëlklip estate long associated with the Rupert family and, more recently, the late Markus Jooste, former CEO of Steinhoff International.

The landmark property comprises two adjoining plots totalling more than 7,000m², making it one of the largest residential stands in Hermanus. The estate includes extensive buildings, multiple residences, entertainment spaces, cottages, and panoramic views across Walker Bay.

The property was acquired by a group of investors who see the estate as a long-term strategic holding. According to Seeff, the new owners are currently evaluating several options to reposition and optimise the property while preserving its historic significance and contributing positively to the local community.

The transaction also follows the South African Reserve Bank’s earlier attachment of Jooste’s assets in 2022 following alleged contraventions of Exchange Control Regulations. The sale is expected to benefit creditors, including the Sarb and potentially the Financial Sector Conduct Authority (FSCA), which previously issued a R475 million penalty against Jooste prior to his death in 2024.

Seeff on the significance of the transaction

‍Paul Kruger, licensee for Seeff Hermanus, says the sale marks a pivotal moment for the local luxury property market.

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“These properties form part of the historical fabric of Hermanus, and their sale marks the beginning of a new chapter for a truly iconic estate,” he says.

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“The investors recognise both the significance of the properties and the exceptional setting of Voëlklip and firmly view the assets as a long-term strategic investment.”

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Kruger adds that several possibilities are currently under consideration as the new owners evaluate how best to position the estate for the future.

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“Several options are being investigated to ensure the estate’s future development is approached in a responsible and considered manner while enhancing its value and contribution to the broader Hermanus community.”

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Hermanus continues to attract wealth and investment

‍The sale underscores the growing appeal of Hermanus as one of South Africa’s most desirable coastal investment destinations. 

Located roughly 150km from Cape Town, the town offers spectacular ocean views, a world-renowned whale-watching coastline, and a lifestyle that continues to attract both local and international buyers.

Recent data from wealth migration reports shows high-net-worth individuals relocating to Hermanus have increased by roughly 25%, placing the town among the fastest-growing wealth destinations in the Western Cape.

This influx of capital has driven strong price growth in the luxury residential market.

Over the past few years, sales above R5 million have more than doubled, with premium areas such as Voëlklip and Kwaaiwater regularly achieving transactions between R20 million and R40 million.

The R105 million Voëlklip sale now sets a new benchmark for the market. The property itself is regarded as a rare coastal estate, not only because of its scale but also its location overlooking Walker Bay, an area famous for seasonal whale migrations and one of the most scenic coastal environments in the country.

Strategic options for the estate

‍While the investors have not yet confirmed their plans, several possibilities are reportedly under review.

These may include repositioning the estate as a luxury boutique hospitality property, high-end private residence, or premium lifestyle estate, depending on planning considerations and long-term market conditions.

The scale of the property and its double-stand configuration present opportunities rarely available in Voëlklip, where zoning restrictions typically limit residential development.

According to Seeff, visits during the marketing process were limited to approved buyers and conducted strictly by invitation to protect the privacy and exclusivity of the estate.

Confidence in the luxury coastal market

‍The R105 million sale reinforces the long-term confidence investors continue to place in South Africa’s prime coastal property markets.

Despite broader economic pressures, high-net-worth buyers are increasingly targeting lifestyle towns such as Hermanus where limited supply, natural beauty and strong global tourism appeal underpin long-term value.

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As Kruger notes: “Hermanus remains one of South Africa’s most desirable coastal destinations. Transactions of this nature reaffirm the long-term confidence investors have in the town and the continued strength of its luxury property market.”

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For the historic Voëlklip estate, the sale signals the start of a new chapter, one that could further elevate Hermanus’s reputation as one of the country’s premier luxury coastal investment locations.

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