Chef's CT home under hammer 6/11

The final hammer will fall on debt-ridden Irish celebrity-chef Conrad Gallagher, when his last asset in South Africa, a Cape Town designer home goes on auction in early November.

Gallagher (38), who left South Africa under a cloud of debt, was sequestrated in the Western Cape High Court in August this year after applications were brought against him by creditors.

Appointed auctioneer, Jonathan Smiedt, CEO of the ClareMart Auction Group will conduct the public auction of the luxury Green Point home and confirms that his group received instruction from Joint Trustee, Darusha Moodliar of SANEK Trust Recovery Services to auction the property which forms part of the Gallagher insolvency matter.

"No reserve price has been set and the property will be sold to the highest bidder on the day of the auction. It is important that bidders understand that the Trustees have insisted that there will be no confirmation period," says Smiedt.

The property, located on Ocean View Drive in Green Point, one of the best addresses in Cape Town, boasts panoramic views of the Atlantic Ocean and seaboard, V&A Waterfront and spectacular views of the new 2010 Soccer Stadium. According to Smiedt the upcoming auction has "created quite a stir amongst local and foreign buyers" and they expect a record crowd to be present when the hammer falls. "Obviously, apart from the serious bidders, we are also expecting those who are just inquisitive to see where Gallagher and his South African wife lived," adds Smiedt.

Gallagher, the youngest chef ever to be awarded two Michelin stars, moved to Cape Town in 2005 after his restaurants in Dublin and New York collapsed under debt. He soon became the chef du jour to celebrity-hungry South Africans and was recruited by Sun International to upgrade standards at the hotel chain's five- and six-star properties. He also reviewed South African Airways' food and beverage operation and in December 2007, opened his Cape Town restaurant, Geisha Wok and Noodle Bar, with much fanfare to the local public.

But the sweet taste of success was short lived and in July 2008, Gallagher was hauled to court over debt. The inevitable dismantling of his South African based businesses and liquidation of assets followed. Following his bankruptcy, Gallagher and his wife, former Miss Port Elizabeth finalist Candice Coetzee and their two sons have moved back to Dublin.

Features of the designer three-bedroom home on auction include, beautiful reception rooms with panoramic views, a lookout rooftop deck, a guest apartment with kitchenette and a large entertainment terrace with an 8 metre long lap-pool and pool room.

The property will be auctioned on Friday 6 November at 12pm on site at 45 Ocean View Drive, Green Point. A show day is scheduled for Sunday 1 November between 2-5pm.

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