As Britain's Parliament rejects a proposed mansion tax on multimillion dollar homes in the U.K., one lavish abode that would have contributed heartily to government coffers has changed hands for a princely sum. London's One Cornwall Terrace has been recently sold for an astounding £80 million, or just under $120 million, in one of the world's most expensive home sales since the economic downturn.
Real estate firm Savills, which marketed the mansion, confirmed the deal but declined to comment or provide further details. The buyer is said to be, according to several British outlets, Marcus Cooper of the Marcus Cooper Group, a British real estate maven who famously flipped London's second largest private residence (behind Buckingham Palace) Witanhurst for £50 million in 2008.
Listed for £100 million (about $160 million) in November, One Cornwall Terrace sits opposite Regent’s Park, in Central London. Tucked behind two gates equipped with an automatic license plate recognition system, the four-story terraced home was constructed in the 1820s by architect Decimus Burton and overseen by John Nash, who designed nearby Regents Park. Encompassing 21,500 square feet, the ne0-classical manse boasts seven bedrooms, 11 bathrooms, 11 reception rooms, a marble catering kitchen, limestone hallways and full smart home automation. There's also a "leisure complex" consisting of a gym and indoor swimming pool.
Occupying just under half an acre, the accompanying grounds tout a 130-foot-long garden and a sweeping double staircase that connects the terrace to that landscaped stretch.
One Cornwall Terrace was the official London residence of the New Zealand High Commissioner from 1955 through the early 1970s, hosting posh parties attended by royalty and other VIPs. In 1975, squatters broke in and took up residence there, according to the Sun.
The sale represents one of the most expensive in the world, joining a small collection of trophy homes that have commanded nine figure price tags, including a handful in London. Among them: a £140 million penthouse in billionaire building One Hyde Park ($220 million at time of sale), a £80 million Kensington villa, a $152 million Upper Phillimore Gardens abode, a £115 million (about $180 million) St. James apartment, and several large sales down the street from Prince William and Kate on Kensington Palace Gardens, including one that fetched £90 million (roughly $135 million) in 2011.
London boasts several additional properties listed for £100 million or more. Heath Hall, located on ultra exclusive Bishops Avenue in Hampstead is reportedly asking £100 million (or just under $150 million) and a seven-story mega mansion in Knightsbridge currently asking £300 million (just under $450 million).
Stateside, only a few homes have ever broken the $100 million mark in a public sale: a Woodside, Calif. estate recently sold for $117.5 million and a Los Altos Hills, Calif. mansion sold for $100 million in 2011.
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