Two Llandudno homes believed to be worth millions of rands are to go on auction this week because the owner, former Zimbabwe Finance Minister, Christopher Kuruneri needs to raise money.
A Llandudno property owned by Zimbabwe’s disgraced former Finance Minister will be auctioned this week. It has been on the market since 2008.
Kuruneri was relieved of his cabinet and ministerial positions after it was revealed that he had spent millions buying the properties almost ten years ago.
One of the houses, overlooking the Llandudno beach has six bedroom and unspoilt views across the ocean. However, the tenants in the Apostle Road home complained that the house is mouldy and damp and have actually left the premises.
Apparently Kuruneri purchased the homes in 2002 for R5-million and spent another R1-million upgrading and renovating them.
Building work on the property in Sunset Avenue was halted after Zimbabwe President Robert Mugabe charged Kuruneri with contravening the country’s strict exchange control laws by buying the homes.
Both homes have been on the market since 2008 but have yet to be sold. Apparently Cape Town-based auctioneer Andrew Koch was approached a few months back by Kuruneri who asked him to sell the properties.
The house that will be auctioned this week and Koch says the goal is to get the best possible cash offer for the property. No reserve price has been put on this auction.
Apart from the Llandudno properties, Kuruneri also owns a flat valued at R2,5-million in Sea Point.
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