UK’s Most Expensive Home Owned by Evergrande Founder Up For Sale
The UK’s most expensive house – a 45-room ‘private palace’ overlooking Hyde Park – is up for sale nearly three years after it was sold to a Chinese billionaire for more than £200m. Middle Eastern royal families and super-rich American investors” were among those who have looked around the 2-8a Rutland Gate property, which was built as four grand family homes in the 1830s before being converted into one vast residence in the 1980s. 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. Hui Ka Yan, Founder, Chairperson, and majority shareholder of Evergrande, is the ultimate owner. Hui has been quickly selling an array of assets, including other properties across the world and two private jets, as he grapples 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, into an eight-storey, 5,760-sq mt (62,000-sq-ft) ‘private palace’. Plans for the building show it will have 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 an American football pitch, could be worth as much as £500m when completed. In the planning application, agents for the property said it was heavily dilapidated and that he would like to “undertake works of repair, refurbishment, and alteration to return the building into beneficial use as their London family home. Westminster city council granted the application just months after it imposed a ban on new ‘Monopoly board-style’ residences so as to free up space for more affordable homes.
Tags : UK expensive house Hyde Park sale Chinese billionaire investors American Founder and Chairman CC Land Holdings Hong-Kong company Hui Ka Yan