There’s a new record in the UK. Britain’s most expensive home has just been sold for a rather nifty £140 million.
The average price of a house in the UK is £228,000 so that means that the anonymous Russian buyer that recently bought Park Place in the village of Remenham, near Henley-on-Thames, 35 miles outside of London could have instead bought over 600 “average homes”.
£140 million buys a lot of home though. The property is a 300 year old property in nearly 600 acres of land and includes stables and a boat house.
During the recent recession, the property development industry has taken a bit of a hammering.
Property developer Mike Spink however shows how it should be done.
He bought Park Place back in 2007 for a “mere” £42 million.
5 years later after reportedly spending several million on renovations he’s sold it for £98 million more than he paid for it. Not a bad return over 4 years.
Movie fans that saw the recent remake of the St. Trinians film would recognise the house as it was used as the school in the film.
Oh, and I forgot to mention but it’s also got its own golf course attached to it and a ghost by the name of Mary Blandy who was accused of poisoning her father in the 1700s is said to live there.
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