Sale of Park Place for £140 Million Creates a New Record for UK Property Market
The real estate markets feel reassured if big ticket transactions take place at record prices. A new record has been set in the UK for Britain’s most expensive home when the 300 year-old Grade II-listed property, in the village of Remenham, near Henley-on-Thames, Oxon was bought for £140 million. Apart from the historic mansion the estate includes about200 acres of the parklands, listed monuments, house, cottages, stables and a boat house. This latest transaction has broken the record of One Hyde Park, Knightsbridge, Central London which was sold earlier this year for £136 million. These transactions have reassured the property market that high end of the market is somewhat unaffected by the economic crisis and has bounced back smartly to pre crisis prices. The house which is called Park Place has a total of 30,000 square feet of living space. The estate which is spread over 570 acres was bought by developer Mike Spink in 2007 for £42 million. Even at that price it had c...