Imagine the sales fee! London mansion on the market for £200 million AGAIN

The property, 2-8a Rutland Gate, was built as four grand family homes in the 1830s before being converted into one residence in the 1980s.

Rutland Gate

A London estate agent is thought to be behind the secretive sale of the UK’s most expensive house – a 45-room ‘private palace overlooking Hyde Park.

The property, 2-8a Rutland Gate, was built as four grand family homes in the 1830s before being converted into one residence in the 1980s.

RECORD

It was sold for a record £205m in January 2020 to Cheung Chung-kiu, the founder and chairman of CC Land Holdings, a Hong Kong-listed company that owns property in China and the UK including the “Cheesegrater” office block in central London.

But the Financial Times has reported that multiple sources had identified the ‘fire sale’ vendor as Hui Ka Yan, the founder of the floundering Chinese real estate empire Evergrande, as the real owner of the exclusive property.

The home is thought to have been discreetly put on the market at the beginning of the month and the fall in sterling is thought to present an even greater appeal to foreign buyers.

SUPER-RICH

The Neg understands that several prospective buyers have already toured the vast property including super-rich Americans and Middle Eastern royal families.

Planning permission has been granted to redevelop the property into an eight-storey, 5760-sq metre ‘private palace’ but the current owner has been forced to sell up before being able to complete the work.

Plans by Squire and Partners for the building show it will have a triple-height ballroom and a two-level basement for a collection of luxury cars.

It is thought the property could be worth as much as £500 million when completed.

Sources told The Neg that in its current state the huge mansion would likely sell for £200 million and the buyer would most likely be Middle Eastern, and possibly a member of the same family that sold it in January 2020.

The property fell into disrepair following the death of previous owner Crown Prince Sultan bin Abdul-Aziz of Saudi Arabia who died in 2011. It has also been home to the billionaire businessman Rafic Hariri, who served twice as Lebanon’s prime minister.


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