The UK’s most expensive home, a 45-room private palace overlooking London’s Hyde Park, is said to be on the market.
According to media reports in the UK the property has attracted the interest of “Middle Eastern royal families and super-rich American investors”.
2-8a Rutland Gate property is in the upmarket Knightsbridge neighbourhood and is moment’s walk away from Harrods, owned by Qatar Holdings; The Carlton Tower owned by Dubai Holdings; a London outpost of the popular Zuma restaurant and, if finances are wiped out after the likely $220m purchase price, a McDonald’s.
UK’s most expensive home $230m
The UK’s most expensive homeis owned by Hui Ka Yan, the head of Chinese property group Evergrande, according to a report in the Financial Times.
It was purchased for a figure believed to be around £210m (now $230m) shortly before Covid struck.
Citing ‘sources familiar with the sale process’ five prospective buyers have come forward to view the property since it was discretely put on the market.
The house was once the London residence of the former Prime Minister of Lebanon and billionaire businessman Rafic Hariri.
Following his death it was gifted to the then–Crown Prince of Saudi Arabia, Sultan bin Abdulaziz Al Saud before being later sold.
Beleagured Evergrande is facing falling property prices and mounting debts and if its founder is the owner of the UK’s most expensive home he may be looking for a quick sale at a discounted price.
Significant investment could transform the single home into a collection of flats – planning permission has previously been given – or it could be transformed into a luxury home the likes of which rarely come on the market.
Most expensive home in the UAE
Earlier this month Arabian Business reported on the sale of the most expensive property in Dubai.
The Casa Del Sole mansion by Alpago Properties was sold for AED302.5 million, becoming the most expensive home to be sold in Dubai.
The mansion, which was sold in July, is located on Palm Jumeirah Islands, and is the latest real-estate record as the city’s luxury property sales surge, Bloomberg reported.
Casa Del Sole, which is still partially under construction will be completed in early 2023 and will feature eight bedrooms and 18 bathrooms. The mansion will also include a gym, cinema, bowling alley, jacuzzi and a basement car parking that fits 15 vehicles.
In August, Indian billionaire Mukesh Ambani’s Reliance Industry is said to to have bought a 10-bedroom villa for his youngest son, Anant. The villa was sold at $80 million.
Luxury properties in Dubai, have caught the eye of many from the world over, because of the emirate’s liberal visa policies, – particularly, the golden visa scheme – its pandemic resilience and ease of doing business.
Most expensive townhouse
Jumeirah Bay Island, is where another of the UAE’s most expensive home’s was sold. Earlier this year Arabian Business reported the city’s most expensive townhouse ever sold in Dubai, for around $8.7m. The Meraas development, sculpted in the shape of a titanic seahorse also has the Bvlgari Resort & Residences, Dubai.
The luxury townhouse is 4,558 square feet, with five bedrooms, modern aesthetics and high-end finishes, the record-breaking sale was made by two Property Finder agents.
This purchase comes in line with a series of record-breaking purchases in the city.
The most expensive piece of land was bought on Jumeirah Bay Island for AED70 million, the most expensive penthouse in One at Palm Jumeirah sold for AED85 million and a three-bedroom unit at the Bulgari Resort and Residences sold for AED12,624 per square foot – the highest recorded price per square foot in the history of Dubai real estate
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