- Summer Place in Hyde Park, Johannesburg, is a renowned banqueting and conference venue.
- It was built for “oil baron” Marino Chiavelli in 1984 and ten years later sold to the Krok brothers for R12 million.
- On Wednesday morning, Summer Place sold at auction for R129 million.
- The 40,000m² property features banqueting venues, boardrooms, offices, a ballroom, and two residential houses.
- Not included in the sale is a sculpture by Danie de Jager.
- For more stories go to www.BusinessInsider.co.za.
The iconic Summer Place in Johannesburg’s suburb of Hyde Park sold at auction for R129 million on Wednesday morning to a consortium of property developers in the hospitality sector.
Summer Place is a sprawling property, almost 40,000m² in size, located in the affluent suburb of Hyde Park. It’s considered a famous South African landmark with a colourful and interesting history.
For the past 28 years, it’s served as a banqueting and conference centre, welcoming guests from around the world. Summer Place was originally developed for “oil baron” Marino Chiavelli in 1984. A decade later, the property was bought by the wealthy Krok brothers for R12 million.
On Wednesday morning, at an on-site auction facilitated by Broll Auctions, Summer Place sold for R129 million. The sale is subject to final confirmation, Broll’s Andre Potgieter told Business Insider. The property was sold to a “consortium of local property developers that operate in the hospitality space” according to Property Wheel.
The 4,800m² Summer Place building has two primary banqueting venues – the Apollo Room and the Annex Room –as well as the Melville Terrace and a grand foyer. The executive business and conference centre is comprised of three boardrooms and two storerooms.
The Summer House has a ballroom, dining room with adjoining bar, and boardrooms named after the Krok brothers, Abe and Solly. The property also features a synagogue and function halls.
The 450m² Summer Cottage has four bedrooms and three bathrooms, a large training room, lounge, dining room, kitchen, and double garage.
The 800m² Lewis property has three bedrooms, as many bathrooms, four reception rooms, a kitchen, three garages, six staff rooms or storerooms with 2 bathrooms, and a private pool. Summer Place has approximately 400m² of office space.
In addition to the vast buildings, the property also has immaculately landscaped gardens, with well-lit pathways stretching throughout the grounds and a wine cellar with the capacity for 5,000 bottles.
There is, however, one fixture at Summer Place which has been explicitly excluded from the sale: a large sculpture crafted by famed South African sculptor Danie de Jager. “The owners would potentially look at offers on the sculpture separately,” said Broll.