Chinese real estate investor Hui Ka Yan bought the property for NOK 2.7 billion in 2020. The house is now for sale with an asking price of “only” 2.6 billion.
London property 2-8A Rutland Gate – known as the most expensive house in Britain – is up for sale again. This time the asking price was NOK 2.6 billion.
The house is not for those who are afraid of being lost at home. Here you can frolic in more than 5,000 square meters, spread over seven floors. On the other hand – you can always ask one of the many staff who will be required to keep the house running for directions, in case you get lost.
Do you fancy sleeping in a new room for each day of the month? zero problem. With 45 bedrooms, you can actually sleep in new surroundings for about two months. 68 of the total 116 windows face Hyde Park, in the heart of London.
So you better not have major financial worries or fear of renovations if you are going to call this home new.
This was apparently a good description of Chinese real estate investor Hui Kayan, formerly one of China’s richest men, when he purchased the property from the Saudi Royal House in the spring of 2020. According to Bloomberg, he paid NOK 2.7 billion for the property.
The plan was to renovate the building for around NOK 1.3 billion.
Ka Yan is behind the Chinese real estate company Evergrande, which in 2021 the Chinese authorities should have saved from bankruptcy.
A crisis at the company results in Ka Yan having to cancel renovation plans, and get rid of that precious home.
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Evergrande crisis explained briefly
It was rebuilt into a huge palace
The property is now on the market for NOK 2.6 billion, according to the report Watchman.
The British newspaper described the condition of the house as very bad, and referred to pictures in the property advertisement. There you can see that inside the walls are crumbling, many floorboards are missing, and the bathrooms are half-torn off.
After the death of the previous owner, Saudi Crown Prince Sultan bin Abdulaziz, in 2011, the house lay empty. Abdel Aziz received the residency from the estate of billionaire and former Lebanese Prime Minister Rafik Hariri. Hariri was killed in a suicide attack in Beirut in 2005.
When Hariri took over the property, the Chamber had already built four separate housing units. He turned it into a huge detached house – or a mansion, if you will. It is said that Harari decorated everything from doors and walls to chests with gold leaf.
could be bigger
The property is for sale with permission from the authorities for partial demolition and reconstruction. The basement can be expanded to accommodate a swimming pool, spa and parking spaces.
in new building plans There’s also room to expand the property to 5,700 square metres – or about 29 tennis courts, if that’s easy to imagine.
The plans were approved despite local authorities in London banning “clapboard-style” mansions, to make way for affordable homes that more people could afford. According to The Guardian, 2-8A Rutland Gate was made an exception, among other things, because it is not considered a new real estate development.
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