Facelift for former Gupta mansion

The Gupta mansion in Cape Town which was bought earlier this year by a European business person, is undergoing extensive renovations. After the Guptas fled SA, the property was neglected, with cracks appearing in the wall paint and holes in the roof that caused substantial water damage. The buyer, Hugh Cooke, is restoring his new primary residence to its former glory, and is also revamping the damaged and outdated interior. After navigating two court interdicts against the sale, Cooke then waited a full year for the transfer of the 8  105m2 property. The Mail & Guardian reports that the Gupta company Islandsite Investments 180 (Pty) owned the Upper Constantia property before it was seized by the National Prosecuting Authority in 2021 with combined assets worth more than R500m. The Guptas bought the property from Mark Thatcher for $965 000 in 2005. In 2004, Thatcher was found guilty of his involvement in the ‘Wonga Coup’, a failed attempt to overthrow the Equatorial Guinea Government. Thatcher, the son of former British Prime Minister Margaret Thatcher, admitted that he provided financial backing for the operation and was fined and given a suspended jail sentence in SA.

Full Mail & Guardian report