Property News

Britain’s most expensive home sold for £140 m to a Russian buyer

The luxury 300-year-old Grade II-listed property, in the village of Remenham, near Henley-on-Thames, Oxon has been snapped up by an unidentified Russian.

Park Place, Britain’s most expensive, was once owned by Frederick, Prince of Wales, the eldest son of George II. The record breaking sale includes 200 acres of land, listed monuments, cottages, stables and a boat house.

The £140m purchase price makes it Britain’s most expensive house, shadowing the £136m sale at One Hyde Park, Knightsbridge, central London, earlier this year.

Developer Michael Spink who specialises in upmarket properties bought the estate for £40million in 2007 and spent millions on restoration.

Until 1998 the listed building was used as a boarding school, it was also used in the remake of the film St. Trinians.

Property experts believe the sale highlights that the top end property market is still buoyant despite the global economic downturn.