Rich Chinese line up to buy London’s US$66 million ‘Gucci mansion’, once HQ to the Italian fashion house
- The 14,000 sq ft, eight-bedroom house in upmarket Mayfair served as headquarters of the luxury fashion brand
- Several wealthy business owners from mainland China and Hong Kong have expressed an interest
The 14,000 square-foot house served as the headquarters of the luxury Italian fashion brand and is where designer Tom Ford entertained figures such as Alexander McQueen and the French billionaire François Pinault.
“Two are looking for a London private home, the third wants a property that can double as a London office or base and a pied-à-terre. At this price level … these assets are both for personal use, entertaining friends and business acquaintances and as a business investment.
The property is also available to rent for £40,000 a week.
Still, there have been notable acquisitions made by mainland Chinese investors in recent years. Last year, seven penthouses in the TCRW Soho project in London’s West End went for £21.4 million to an unidentified Chinese buyer.
The Gucci mansion, built in the 18th century, is a Grade 1 listed neoclassical building which was chosen to become the luxury brand’s headquarters in 1998 after its head, Maurizio Gucci, was gunned down by a hitman hired by his former wife Patrizia Reggiani in the lobby of Gucci’s Milan headquarters three years earlier.
In 2000, Ford invited McQueen to the house to convince the British fashion designer to join the Gucci group. The property, however, ceased to become Gucci’s headquarters when it was relocated to Cadempino in Switzerland in 2010.
“This year, especially as international buyers have started to return to the capital, the top locations for super-prime deals are Knightsbridge, St John’s Wood, Mayfair, Kensington, Belgravia and Chelsea. The traditional neighbourhoods of the super-rich are once again the locations for the majority of top end deals.”
Other prominent properties to have caught the eye of buyers from the mainland and Hong Kong include penthouses at Principal Tower, in Shoreditch.
“Trophy homes in London offer a unique investment opportunity,” said Christopher Murray, managing director at developer Concord London. “The increase in interest could in part be due to the decline of Covid cases and the relaxation of travel restrictions allowing overseas purchasers to visit and view the properties in person.”