CC Land’s chairman Cheung splashes £210 million on 45-room Knightsbridge mansion, breaking London’s price record
- The private family office of Cheung Chung Kiu has agreed to buy the palatial home at 2-8a Rutland Gate, a spokesman said in an emailed statement
- The sale price is set to be £210 million, eclipsing the £140 million reportedly paid for a country house in Oxfordshire nearly a decade ago
A Chinese property magnate is close to breaking London’s house-price record with the purchase of a 45-room mansion in Knightsbridge for more than £200 million pounds (US$262 million).
The private family office of Cheung Chung Kiu has agreed to buy the palatial home at 2-8a Rutland Gate, overlooking Hyde Park, a spokesman said in an emailed statement.
The sale price is set to be £210 million, according to a person with knowledge of the transaction who asked not to be identified because the terms aren’t yet public. It would be the biggest ever for a house in the UK, eclipsing the £140 million reportedly paid for a country house in Oxfordshire nearly a decade ago.
It would also be one of the richest deals worldwide, topping the US$238 million that Ken Griffin, founder of hedge-fund firm Citadel, paid last year for a penthouse in Manhattan.
No decision has been made on whether the property will remain a single house or be converted into luxury apartments. Based on sale prices at the nearby Peninsula London project, a redevelopment of the building that turned it into apartments could be worth as much as £700 million, the spokesman said.