$262M London Mansion to Set Real Estate Record (PHOTOS)

$262M London Mansion to Set Real Estate Record

London, England

A Chinese property tycoon has agreed to buy one of the largest private homes in London for more than £200 million ($262 million USD) according to The Guardian. The British daily newspaper revealed that Cheung Chung-kiu is expected to close on 2-8a Rutland Gate for as much as £210 million, breaking property records in the process. Overlooking Hyde Park in the Knightsbridge district of London, 2-8a Rutland Gate was originally built as four houses and later converted into a single property in 1982. There is reportedly close to 60,000 square feet with forty-five bedrooms, an indoor pool, underground parking, several elevators, interiors designed by French designer Alberto Pinto and bulletproof windows that overlook Hyde Park. Previous owners have included the former Prime Minister of Lebanon and most recently the Crown Prince of Saudia Arabia, Sultan bin Abdulaziz, who died in 2011. The property was first put on the market in 2012 for £300 million, unsold and empty, the contents were sent to auction in 2015 in a 1,252 lot sale lasting two days. According to Bloomberg, once finalized, the sale will surpass the $238 million that Ken Griffin paid for a New York Penthouse. The purchase will make this the most expensive home in London and one of the most expensive in the world.

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