Media Release: May 2025

Luxurious Majeka House in Stellenbosch with its 21 designer rooms, pools, restaurant, bar, lush gardens and spa set against the magnificent Helderberg Mountains is just one of the iconic landmark properties that will come under the High Street Auction Co’s hammer this month.

For High Street director, Greg Dart, this couldn’t come at a better time as the hotel sector – a major driver of tourism growth – remains on a strong upward trajectory. According to Stats SA, income from accommodation was up in February 2025 compared to the same period last year with travellers showing a 15.6% increase in spend per night. This signals a steady return to value-driven travel and renewed confidence in premium offerings.

In 2025, the Western Cape saw a 6.8% increase in international tourist arrivals compared to 2024. Domestic tourism is also thriving, contributing R18.6 billion to the provincial economy.

According to forecasts by Statista, the African travel and tourism market will be worth $33.54bn by 2029, benefiting from a post-pandemic recovery in trip-taking, improved international connectivity and strong demand for high-quality accommodation. Hotels comprise the largest part of this, with an estimated market volume of $15bn by 2029.

Dart sees Majeka House, with its location in sought-after Paradyskloof as an opportunity to revitalise what has been seen as an iconic tourism destination. Alternatively, he says there may be an opportunity to even repurpose an iconic trophy asset that is not only neighbour to some of the Western Cape’s premier wine estates but surrounded by a rich history and many of the best tertiary institutions.

“This may be an opportunity to turnaround a beautiful boutique hotel. We’ve also had people interested in creating a step-down facility for high-end post cosmetic surgery. Potentially, there are several applications and we’ve positioned this as a landmark property to revive or repurpose,” he points out.

Listing Majeka House also places High Street Auctions at the heart of one of South Africa’s most vibrant property markets. Stellenbosch is not only attracting significant interest from those wishing to put down roots in the heart of the winelands but also investors looking to benefit from the growing market for estate living, a quality lifestyle, luxury retirement accommodation and tourism.

“This is a prime real estate opportunity. Right now, we are steering away from any positioning around bread and butter residential. If we take residential properties, they are exceptional, of high value, in good locations, have iconic architecture,” he explains.

Another special property – and one that not only perfectly exhibits the calibre of the properties on auction but also the renewed focus of High Street on luxury and exclusivity, is a three-bedroomed penthouse in Wale Street in the Cape Town central business district.

Features include luxury Italian tiles, top end audio and video systems and the magnificent views that accompany this prime Mother City location.

“You have a big wrap around veranda and a pool. It is a beautiful place in a city that is shining at the moment. All in all, these properties are not only high profile but they define the Western Cape,” Dart says.

An auction of two cities

In total, High Street will be selling 43 properties, including large retail and commercial investments, from across the country. 15 of these are located in the Western Cape with the balance coming from inland Gauteng and a few from KwaZulu-Natal.

The differentiator is that this will be a two-venue auction with active bidding both in Johannesburg at the Bryanston Country Club and at the DHL Stadum in Cape Town.

“We’ve been looking for a platform to start building a narrative around dedicated auctions in the Cape Town area. We’ve generally run multi property auctions from Gauteng. If Cape Town properties appeared on our platform, our auctioneer was typically still at our Johannesburg venue. We stream live. We have online bidders, telephone bidders, and we do carry Cape Town stock,” Dart explains.

Usually, when High Street is selling properties that form part of the City of Cape Town municipality portfolio, it has a dedicated auctioneer on the floor in Cape Town.

In May, High Street will integrate the latest portfolio of the City of Cape Town stock into its  general podium stock and to run two auctions simultaneously.

“The Cape Town venue at DHL Stadum is where our auctioneer will stand and we will stream back to the Johannesburg venue. Similarly, we have a stream facility from Joburg to Cape Town. We want to show that we are on the ground in Cape Town, running stock from the region. We will also have other High Street Auction events later the same and next day at the same venue, auctioning curated luxury and collectors’ items,” he adds.

“We have buyers that want to be in the room and we are creating a forum where they can come and bid and be part of that whole experience. By having a dual venue, people can watch what’s happening in Cape Town. Those bidding in Cape Town can be part of what is happening in Gauteng,” Dart continues.

A blueprint for releasing municipal properties.

He believes that High Street is introducing differentiation into the auction marketplace not only through multiple venues but also through a diverse portfolio of properties.

One of the outstanding properties from the City of Cape Town portfolio is a prime commercial development property in Sandringham Road, Kraaifontein. Located within the Wynland Industrial Park next to Value Logistics, Dart says the property has already attracted a great deal of attention.

High Street has had to be extremely patient in bringing this property to auction because its electricity supply has only recently become available.

“There was a lot of interest during the last round and we anticipate this will sell at the end of May. This is one of those more iconic properties in the list of 13 that we have from the City of Cape Town,” he says.

Dart acknowledges that High Street, through its relationship with the Cape Town municipality, has set an important precedent when it not only comes to releasing properties to realise funds for the local government but also releasing prime parcels of land for private sector development.

He points out that municipalities across South Africa are spending large sums on maintenance or on preventing empty or undeveloped properties from being vandalised. He says High Street is not only speaking to more municipalities regarding disposal of prime land for development but helping create an exit strategy for local governments that have cumbersome property portfolios.

“At every auction for the City of Cape Town, there is significant interest because the properties are priced right, and they are in excellent locations. We have a four-year track record with the City of Cape Town with exceptional results. This is an important reference for what other municipal authorities could do, and we are in discussions with at least one other municipality that may follow the same route, Dart says.

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