Aug 04, 2008:
Park Town School, better know as PTS, fetched R22m at an auction on Wednesday.
Originally named 'Beauvais', and built as a private residence just over 100 years ago by Allen Wilson for mining magnate Mr. Percival White Tracey, this home set on 1,1 hectares of prime land was purchased by an undisclosed SA company.
"It goes to show that good properties will always fetch good prices," says Rael Levitt of Alliance Group.
Many famous South Africans passed through the school including Sir Harry Oppenheimer. Following the Second World War, economic pressures eventually forced the closure of the school in 1957. Two years later, AECI purchased the then neglected building and most of the land, and set about restoring it to its original glory.
For more information contact Joff van Reenen on 082 802 1366