CT property sold for R44 million

A Johannesburg executive who offered R36-million for a beach property at an auction earlier today, got the surprise of his life when he was told a few hours later that somebody else upped the offer to R44-million.

The property of less than 500 square meters is known by Capetonians as the nightclub Opium on the Beach.

It was reportedly purchased by an unknown bidder. First buyer, Zunaid Moti, says he is disappointed.