One of Kuruneri's Llandudno homes on auction

One of two luxury homes owned by former Zimbabwean finance minister Christopher Kuruneri in one of South Africa's most exclusive suburbs is to be sold by auction.

Kuruneri was relieved of his cabinet position after it was revealed that he had spent millions nearly a decade ago purchasing two homes in Llandudno, Cape Town – a suburb popular with movie stars and wealthy businessmen.

One of them, a six-bedroom double-storey, with terraces leading down to the beach, will go under the hammer on Thursday.

While the beautiful home with unspoilt views of the ocean is gorgeous, its former tenants complained of mould and damp.

The tenants, a German couple, packed up and left the Apostle Road home last year.

Kuruneri purchased the house for R5-million in 2002, and spent another R1-million on renovations.

The former minister is reportedly auctioning the house to raise cash to fund the completion of his second home in the suburb – a four-storey mansion in nearby Sunset Avenue.

Property developer Chris Hayman, who looks after Kuruneri’s home in South Africa, refused to say if the auction was being held to raise cash for the Sunset Avenue property.

"That’s a decision my client will have to make," he said.

Building work on the Sunset Avenue property came to a halt when Mugabe charged Kuruneri with breaking Zimbabwe’s strict exchange control laws by purchasing the two properties.

Kuruneri was acquitted of the charges, which he vehemently denied, in 2007.

Kuruneri approached Cape-based auctioneer Andrew Koch two months ago in a bid to rid himself of the property. The luxury home has been on the market since around 2008.

Besides the eight-bedroomed mansion with three garages in Llandudno, Kuruneri also owns a R2.5-million flat in Sea Point.

Describing the house up for auction this week, Koch said: "It’s a modern-styled house on the outside but it has got quite soft features on the inside."

"The idea behind the auction is to get the best cash offer from the market, which is what the owner wants to consider," Koch said.

No reserve has been put on the price.