Constantia Uitsig bought by MD of Pepkor
Pepkor MD, Pieter Erasmus has bought Constantia Uitsig for an undisclosed amount, according to reports on social media. Property agency VIP Homes have confirmed the sale of the stunning estate.
The popular Cape Town wine estate was up for sale for 175 000 000 ZAR.
According to a report on Food24 the 3 restaurants on the property, namely La Colombe (a regular in the Eat Out Top 10 awards), The River Cafe and The Constantia Uitsig Restaurant, will be affected by the sale and could face closure.
Pepkor is a South African based investment and holding company, managing a portfolio of retail chains focused on the value market and selling predominantly clothing, footwear and textiles. Its main operating subsidiaries are Pep and Ackermans in South Africa and Best & Less in Australia, all based on a high volume/lower margin business model.