Taken to auction a year ago by leading auction house, Alliance Group, the property then achieved R34.5 million under the hammer by a local bidder.

The curators and FSB declined this offer, with the building subsequently standing vacant for 12 months and slowly deteriorating as climate and economic conditions showed no mercy to the once majestic empire and building where no expense was spared.

Tenacity by Alliance Group and Head of New Business Development, Ariella Kuper, paid off as Alliance continued to solicit interest and subsequent offers in an effort to bring a happy ending to a matter that dominated news and gossip across the country.

Kuper has been negotiating with an international buyer and in late October received confirmation from Curator, Dines Gihwala of Cliffe Dekker, that the latest offer of R36.75 million had been accepted.

In an effort to consider the interests of the widows and orphans who ultimately suffered the hardest through this unfortunate saga, Alliance Group has agreed to contribute a substantial part of the commission earned towards their Fund.

Unlike the Titanic, Waterford Place has found a new captain, and will hopefully commence a new voyage and legacy that Arthur Brown failed to achieve.