The infamous ex-Fidentia head office, located at 1 Waterford Place in Century City, Cape Town has been sold, the Alliance Group auction house said on Wednesday.

The property had been sold to an international buyer, Alliance Group said in a statement.

"I can't disclose his name as he has requested privacy," Alliance spokeswoman Ariella Kuper said.

The property had been put on auction a year ago by Alliance Group and a bid of R34.5-million was received from a local bidder.

"The curators and the Financial Services Board never accepted this offer, with the building subsequently standing vacant for 12 months and slowly deteriorating," Kuper said.

However, Kuper was able to negotiate with an international buyer and late last month she received confirmation from the curator, Dines Gihwala of Cliffe Dekker, that this buyer's 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," Kuper said.

Pressed to give more information about the amount intended for the fund, she said it was "quite substantial".

"You're looking at a third of the commission."

Kuper said although Alliance was not obliged to give money to the fund, the company decided it was "the right thing to do."

"The widows and orphans got a pretty raw deal," Kuper said.

She said the building had been one of the first office blocks opened in Century City.

"It's a beautiful property consisting of three stories with the executive suites on the top floor.

"It's glamour and glitz and carries prestige — everything Arthur Brown [the former head of Fidentia] aspired to."

She said that the deal had been a cash one.

"It was clean and unsuspensive," Kuper said.

Brown currently faces three separate court cases.

The first is a R200-million fraud case against him and former Transport, Education and Training Authority head Piet Bothma.

He is also involved in a regional court case regarding Fundi and Infinity in which he is alleged to have moved R9.5-million from the accounts of the companies.

The third case is with co-accused Jacobus Theart, who is accused of the theft of R800 000 from private investment company Antheru.

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