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Going once, going twice... sold!
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November 7, 2009
By Melanie Peters
The Green Point home of Irish celebrity chef Conrad Gallagher, who left South Africa under a mountain of debt, was auctioned for R5-million yesterday.
The property in Ocean View Drive, Gallagher's last asset to be sold off, was bought by a London businessman, who did not wish to be named.
The designer three bedroom home has panoramic views, including of the new Cape Town Stadium, a guest apartment with kitchenette, a large entertainment terrace with an 8m lap-pool, and a pool room.
Gallagher, 38, was sequestrated in the Cape High Court in August. He recently returned to Ireland with his wife, former Miss PE finalist Candice Coetzee, and their two young sons. He left Ireland a number of years ago, also in debt.
Gallagher's debt and court case was splashed in local and Irish newspapers.
The high court, reports said, granted a final sequestration order to MacBrothers Catering Equipment, which was owed about R350 000 for catering equipment sold to Gallagher's Geisha Wok and Noodle Bar in the Cape Royale Luxury Hotel.
Absa also obtained a default judgment in February for payment of R4,6m.
His Fresnaye house was sold on auction in May for R3,1m, leaving Absa with a shortfall of R1,8m.
Gallagher, a Michelin-star chef, arrived in Cape Town about five years ago, and Capetonians lapped up stories about how his guest list included Bono, Madonna, Mick Jagger and Pamela Anderson.
But the sweet taste of success was short lived, and in July 2008 Gallagher was hauled to court in connection with his debts.
Reports said he received a monthly consultancy fee of R210 000 from Sun International Hotels and another R75 000 a month from contracts with the Trump Group Dubai and St Regis Abu Dhabi.
Appointed auctioneer Jonathan Smiedt, head of the ClareMart Auction Group, said the auction "created quite a stir among local and foreign buyers".
"Apart from the serious bidders, we also got those who were inquisitive to see where Gallagher lived."
Smiedt said the purchase price was competitive and in line with property values in the area.
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