London's most expensive house gets even more expensive renovation

Last year, Chinese real estate tycoon Cheung Chung Kiu bought a 45-room mansion for more than 230 million euros. Overlooking Hyde Park and located in London, the mansion is the most expensive house ever sold in the United Kingdom. However, the real estate tycoon now decides to remodel the house for a bizarre amount. Text: Fleur de Jong
Image: Beauchamp Estates

Knightsbridge neighborhood

The house is in the well-known Knightsbridge neighborhood which has many famous residents. Stars such as Hugh Grant, Princess Diana and Ian Fleming grew up in this London neighborhood. The house was built in the year 1830, features about 45 rooms, 20 bedrooms, a swimming pool, a private spa, a gym and underground parking for several cars. There is also a separate wing with staff rooms. The house has as many as 68 windows overlooking Hyde Park. The interior was created by renowned French designer Alberto Pinto.

The seven-story property was built as four large family homes before being converted into one large residence in the 1980s. The previous owner of the property was Crown Prince Sultan bin Abdul-Aziz of Saudi Arabia, who died in 2011. Currently, new owner Cheung Chung Kiu wants to remodel the property and make it his family residence.

Renovation costs

The cost of the renovation project? Another 232 million euros. The house seems to be in poor condition and extensive renovation is needed, according to experts. During the renovation there will be a new layout and the entire house will be redecorated, also the basement will be freed up, making the building taller. If the municipality gives permission, the renovation will begin at the end of this year. 

Real estate agent Peter Wetherell indicates that billionaires are more likely to own beautiful homes in London because it is good for their image. Also, every decade real estate prices go up again in the British city making their properties worth more and more as well. Read here an article about another special home.