UPDATE: Mount Richmore confirms sale to developers

The sale of Mount Richmore estate in Salt Rock and subsequent proposal to incorporate parts of the development with Simbithi Eco Estate, remains a contentious issue.

Last week, the Courier published that a consortium of investors had made a bid to buy Mount Richmore estate, together with the newly developed Salt Rock City shopping centre.

At the time, Mount Richmore owner Frikkie Lutzkie maintained that the development had not been sold as the board were still in the process of making a decision.

Also read: Combined estates proposal falls flat – Salt Rock

However, Salt Rock City director Buks Botha has since said that parts of the estate had, in fact, already been sold to the new investors.

He did not say which portions.

“We confirm that certain parcels of land within Mount Richmore estate (of which we are the owner and developer) have been sold to a development consortium in respect of which we conducted substantial due diligence and who are established to have impeccable credentials and financial standing. These transactions were concluded in October 2018.”

The new owners, Eqw8 Real Estate Managers, proposed that a frail care facility and hospital be added to the estate, complementing the Salt Rock City shopping centre and Curro Mount Richmore school.

The group, with the support of the Simbithi Homeowners’ Association, proposed the incorporation of Mt Richmore (or parts of it) into Simbithi, allowing residents of both estates access to the amenities that both developments have to offer.

However, some Simbithi residents opposed the proposal, on the grounds that the expansion might decrease their property value. The proposal failed to reach the 75 percent approval needed, by about 20 votes.

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