White House, the 100-year-old Edwardian mansion on Linksfield Ridge, was sold for a hammer price of R20m by the Alliance Group on Wednesday, closing another chapter in the interesting history of la grande dame of the hill.

Built on five stands in 1907, the house was the private residence of the Tracey family until 1917 when it became the Park Town Preparatory School. In 1957 it became a training centre for AECI and in recent years it has been an interior design academy.

The auction attracted more than 150 people drawn from as far afield as the US. Celebrities attending included Des and Dawn Lindburgh and architect Malcolm Freeland, an authority on Johannesburg’s historical buildings.

Those attending were welcomed with champagne and smoked salmon in the great hall. There were 15 registered bidders.

A drawing-room of earlier times in which the auction was held soon became crowded, and people spilled out into the hall and half-way up the Burmese teak grand staircase.

“It is one of the most exciting properties sold by Alliance Group,” auctioneer Rael Levitt said. “But it’s not just a property, or a house, it’s an iconic landmark. Such properties retain value and are not affected by the present depressed residential property market.”

Levitt said the price was very satisfactory considering the house was on the market for 18 months. “It proves the power of auctions.”

The fact that the sale was not affected by the negativity in the market was a shot in the arm for property market.

“The substantial interest shown in the sale is a good sign for the market. Yes, it was a great deal. Something like this happens once in a life time.”

Auctioneer Joff van Reenen said: “It is an incredible property. Never ever again will there be a sale of such a residential property in Johannesburg. It is the most expensive residential property ever sold in Johannesburg.”

The buyer, Garth Bolton joint CEO of Cargo Carriers, said the White House would be used as a corporate head office and training centre. “It’s a signature building. We intend to maintain the original building intact as far as possible. The coach-house will be restored and used for a training centre.

“We appreciate the historical significance of the house and don’t want to detract from its heritage. It is something which we as an a old company appreciate, and we hope that the White House will add to our company’s heritage.”

Source: Business Day