Africa-Press – South-Africa. The Michelangelo, one of South Africa’s most luxurious hotels in the heart of Sandton, is standing empty amid a fight for ownership over Legacy Hotels and Resorts.
This is the result of a hostile takeover bid by Ensemble, a company backed by the Libyan Investment Authority, for the hospitality group.
Ensemble owns 39.79% of Legacy Hotels, while founder Bart Dorrestein owns 40.84% through Legacy Management Holdings. Associates of Dorrestein through Swanvest hold a 19.39% stake in the company.
The two entities, Ensemble and Dorrestein and his associates, are trying to buy each other out to establish full control over Legacy.
This battle, combined with the aftermath of pandemic-era lockdowns, has resulted in the Michelangelo hotel standing empty for the past five years, several security guards outside the hotel told Daily Investor.
The guards said the hotel remains fully furnished and is geared up to host guests, but has not been operational since the end of Covid-19 lockdowns in South Africa.
Daily Investor reached out to Legacy Hotels for comment, but did not receive a response in the two weeks prior to publication.
The Michelangelo is one of South Africa’s best-known luxury hotels, located within the Sandton City precinct and an iconic feature of the area’s skyline.
Completed in 2005, the Michelangelo was the tallest building in Sandton until Legacy completed The Leonardo over a decade later.
Inspired by the design of Manhattan’s iconic high-rise apartment buildings, the Michelangelo has hosted celebrities and presidents, including Barack Obama, Oprah Winfrey, and Lady Gaga.
The building has over 200 luxury suites across 34 floors and rises nearly 150 metres into the Sandton sky, where it is topped by the Cupola Suite, which features three bedrooms, a private swimming pool, a gym, and a 12-seater boardroom.
Apart from the luxurious suites, the Michelangelo was also home to Parc Fermé, a fine-dining restaurant that served French and Mauritian cuisine.
The Michelangelo also has its own office and retail components, with direct access to Sandton City, close to Nelson Mandela Square.
However, it is now empty, with stanchions blocking entrances to the hotel and a placard explaining that it is closed.
Daily Investor asked multiple security guards, including those from Sandton City and the Towers’ retail section, about the hotel’s closure.
The guards said the Michelangelo has not reopened since Covid, but remains fully-equipped to reopen should its owners ever decide to do so.
Michelangelo Towers’ retail section is still open to the public, with the Roar Bistro and Bar facing the street being open to trade.
Ownership battle heating up
The battle for ownership of Legacy Hotels and Resorts is heating up, with the matter set to go before the Supreme Court of Appeal following a victory for Ensemble in the Johannesburg High Court in December 2025.
BusinessDay first reported the launch of a hostile takeover of Legacy in February 2024, describing it as a bitter falling out between two major shareholders in the company.
The publication reported that Ensemble was trying to buy out founder Bart Dorrestein and his associates to take full control of the group.
Dorrestein and others pushed back and refused to sell their stakes, which, when combined, give the founder control of the company.
Ensemble took the matter to the Johannesburg High Court to force a private auction to be held, so that it could bid for shares held by Dorrestein and others in the firm.
The company presented this as a fair chance for ownership of the company to be decided, with Dorrestein and his associates able to bid for shares owned by Ensemble.
Effectively, the private auction would give the company to the highest bidder for the shares held by other parties. Backed by a sovereign wealth fund, Ensemble is highly likely to win this bidding war.
The High Court ruled in Ensemble’s favour, with Dorrestein and others now appealing the ruling.
As opposed to a private auction, Dorrestein and his associates want a court order to compel Ensemble to sell its shares to them at a price determined by a professional valuer.
One of the major sticking points in any agreement is the fact that Ensemble’s Libyan backers are under international sanctions, which may complicate the purchase or sale of shares by the company.
Legacy Hotels is one of South Africa’s most iconic hospitality companies, having been formed in 1999 through a management buyout of Stocks Hotel & Resorts.
The company has steadily expanded its footprint to become one of the largest operators of luxury hotels in the country.
In particular, the company has focused on expanding in central Sandton, with its Michelangelo Towers and The Leonardo in Africa’s richest square mile.
The company also operates The Portswood Hotel in Cape Town near the V&A Waterfront alongside The Commodore Hotel.
Legacy also manages properties on behalf of external owners, such as Elephant Point and Kruger Park Lodge in the Kruger National Park.
Four resorts in the Pilanesberg are operated by Legacy – Bakubung Bush Lodge, Bakubang Villas, Kwa Maritane Bush Lodge, and Tshukudu Bush Lodge.
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