Home Real Estate Yours for £200m? UK’s most expensive house goes up for sale, again | Property

Yours for £200m? UK’s most expensive house goes up for sale, again | Property

by Ozva Admin

The most expensive house in the UK, a 45-bedroom “private palace” overlooking Hyde Park, is up for sale almost three years later. was sold to a Chinese billionaire for over £200 million.

The Guardian knows that at least five potential buyers have toured the seven-storey Knightsbridge property since it was quietly put on the market in recent weeks.

Sources familiar with the sale process said “Middle Eastern royal families and super-rich American investors” were among those looking around the 2-8a Rutland Gate property, which was built as four large family homes in the decade. from 1830 before becoming one. large residence in the 1980s.

The property sold for a record £205m in January 2020. The estate agent who brokered the deal announced that the buyer was Cheung Chung-kiu, founder and chairman of land holdings cca Hong Kong-listed company that owns properties in China and the UK, including the “Cheesegrater” office block in central London.

However, the Financial Times reported on Friday that five sources had identified Hui Ka Yan, Evergrande’s founder, chairman and majority shareholder, as the ultimate owner. Evergrande, which has been plunged into crisis by mounting debts and falling property prices, did not respond to requests for comment.

Hui has been rapidly selling off a variety of assetsincluding other properties around the world and two private planes, while dealing with the crisis at Evergrande.

Planning permission has been granted to redevelop the property, which has fallen into disrepair since its former owner, Prince Sultan bin Abdul-Aziz of Saudi Arabia, died in 2011. in an eight-story, 5,760-square-meter (62,000-square-foot) “private palace”.

plans for the show the building will feature a triple-height ballroom and a two-level basement for a collection of luxury cars. Agents said the property, which has slightly more living space than the size of a football pitch, could be worth up to £500m when completed.

In the planning application, agents for the property said it was “severely run down” and that he would like to “perform repair, refurbishment and alteration work to return the building to beneficial use as his property.” London Family home”.

Westminster City Council granted the request only a few months later imposed a ban on new “Monopoly board-style” residences to free up space for more affordable housing.

The building, which has been empty for at least 10 years, already had a building license to convert it into 13 homes.

The council said it could not stop this project as the site had been a single dwelling and planning rules allowed it to be replaced. The council also confirmed that the owner would not be required to contribute to the construction of affordable housing in the municipalityas is the case with most large scale privately owned developments.

The house is just south of Kensington Gardens and 68 of its 116 windows overlook the park. The interiors were created by French designer Alberto Pinto.

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