The former office of former Gucci chief executive Domenico De Sole. All images courtesy Beauchamp Estates/Tom St. Aubyn Photography
The former office of former Gucci chief executive Domenico De Sole. All images courtesy Beauchamp Estates/Tom St. Aubyn Photography
The house contains its own health club with sauna.
The house contains its own health club with sauna.
The former Gucci boardroom.
The former Gucci boardroom.
Grafton Street in London's Mayfair.
Grafton Street in London's Mayfair.
The kitchen is state-of-the-art.
The kitchen is state-of-the-art.
The property was substantially refurbished.
The property was substantially refurbished.
Elements of grandeur remain.
Elements of grandeur remain.
The house is on the market for £55 million.
The house is on the market for £55 million.
Domenico De Sole's former office is now part of the penthouse suite.
Domenico De Sole's former office is now part of the penthouse suite.
A VIP bedroom suite.
A VIP bedroom suite.
The house has its own gym.
The house has its own gym.
The library in the Grafton Street property.
The library in the Grafton Street property.
There's a mosaic lined steam room and a Scandinavian style sauna.
There's a mosaic lined steam room and a Scandinavian style sauna.
The bathrooms have top-level finishings.
The bathrooms have top-level finishings.
The indoor swimming pool.
The indoor swimming pool.
The kitchen comes with a breakfast bar.
The kitchen comes with a breakfast bar.
The main reception room and Tom Ford's former office.
The main reception room and Tom Ford's former office.
The sauna.
The sauna.
Tom Ford's former office.
Tom Ford's former office.
A sweeping staircase connects the levels.
A sweeping staircase connects the levels.
The house has a passenger lift.
The house has a passenger lift.
The drawing room offers optimal comfort.
The drawing room offers optimal comfort.
Domenico De Sole's former office.
Domenico De Sole's former office.
The VIP bedroom suite.
The VIP bedroom suite.

Business

Property

Inside former Gucci HQ as $66.6m London mega mansion goes on sale

The property was a base for Tom Ford and Domenico De Sole

Ian Oxborrow
Ian Oxborrow

July 04, 2022

  • English
  • Arabic

What could be described as London's most fashionable address has been put up for sale.

The former headquarters of fashion label Gucci on London's Grafton Street is regarded by brokers as the finest property currently on the market in London's prime area of Mayfair.

The lavish mansion has had some of fashion's most familiar names treading its corridors — figures such as designer Tom Ford and Alexander McQueen and former chief executive Domenico De Sole.

Originally built between 1769 and 1770, it was formerly the London home of lord chancellor Lord Brougham, where Queen Victoria and the first duke of Wellington were entertained.

Gucci relocated from Milan to the building in 1998, a few years after the head of the fashion house, Maurizio Gucci, was shot dead in the lobby of Gucci’s Milan headquarters by his former wife, Patrizia Reggiani Gucci.

The company stayed in the building until 2010, when Robert Polet, chief executive at the time, decided to relocate Gucci's headquarters to Cadempino in Switzerland.

After Gucci's exit, it was converted back into a house and now spans 1,300 square metres as an eight-bedroom property.

“The former Gucci mansion, the brand’s global HQ, is now Mayfair’s finest house currently for sale or let," said Gary Hersham, founding director of Beauchamp Estates, which is selling the property.

"Immaculately dressed, this turn-key mansion with its two floors of entertainment and leisure facilities is perfect for a family who, like Gucci, want a palatial residence in the heart of Mayfair.”

The mansion is available to either purchase for £55 million ($66.6m) or to let for £40,000 a week.

Inside the Gucci house in London. Courtesy Beauchamp Estates/Tom St. Aubyn Photography
Inside the Gucci house in London. Courtesy Beauchamp Estates/Tom St. Aubyn Photography

Featuring a basement, lower ground floor, ground floor and four upper floors, the mansion has a passenger lift, gym, cinema, health club with pool, plus a conservatory on the top floor.

The ground floor houses two state rooms with ornate six-metre-high ceilings, full height windows, original Georgian fireplaces and parquet flooring. Gucci used these rooms to host guests and meetings.

The dining room, which was Gucci’s main meeting room and boardroom, has a carved wood chimneypiece and built-in bookcases surmounted by busts of Alexander the Great, Caesar Augustus and Marcus Aurelius.

______________________________

House from 'The Wolf of Wall Street' goes on sale

The house featured in the film The Wolf of Wall Street. Courtesy Douglas Elliman Realty
The house featured in the film The Wolf of Wall Street. Courtesy Douglas Elliman Realty
We take a look around the inside, and outside, the property. Courtesy Douglas Elliman Realty
We take a look around the inside, and outside, the property. Courtesy Douglas Elliman Realty
The house sits on a huge estate. Courtesy Douglas Elliman Realty
The house sits on a huge estate. Courtesy Douglas Elliman Realty
It comes with a number of kitchens. Courtesy Douglas Elliman Realty
It comes with a number of kitchens. Courtesy Douglas Elliman Realty
The mahogany bar. Courtesy Douglas Elliman Realty
The mahogany bar. Courtesy Douglas Elliman Realty
The home has been lavishly furnished. Courtesy Douglas Elliman Realty
The home has been lavishly furnished. Courtesy Douglas Elliman Realty
It lights up like a fairytale at night. Courtesy Douglas Elliman Realty
It lights up like a fairytale at night. Courtesy Douglas Elliman Realty
Wolf of Wall Street house. Courtesy Douglas Elliman Realty
Wolf of Wall Street house. Courtesy Douglas Elliman Realty
Wolf of Wall Street house. Courtesy Douglas Elliman Realty
Wolf of Wall Street house. Courtesy Douglas Elliman Realty
One of the well-appointed kitchens. Courtesy Douglas Elliman Realty
One of the well-appointed kitchens. Courtesy Douglas Elliman Realty
Part of it feel like a French chateau. Courtesy Douglas Elliman Realty
Part of it feel like a French chateau. Courtesy Douglas Elliman Realty
Sweeping staircases add to the grandeur. Courtesy Douglas Elliman Realty
Sweeping staircases add to the grandeur. Courtesy Douglas Elliman Realty
It features six fireplaces. Courtesy Douglas Elliman Realty
It features six fireplaces. Courtesy Douglas Elliman Realty
There's six bedrooms and seven bathrooms. Courtesy Douglas Elliman Realty
There's six bedrooms and seven bathrooms. Courtesy Douglas Elliman Realty
An aerial view of the sprawling estate. Courtesy Douglas Elliman Realty
An aerial view of the sprawling estate. Courtesy Douglas Elliman Realty
There's a riding ring, a 10-stall stable with apartment and tack room. Courtesy Douglas Elliman Realty
There's a riding ring, a 10-stall stable with apartment and tack room. Courtesy Douglas Elliman Realty
The home was also in episodes of the TV series “Elementary,” which starred Lucy Liu and Johnny Lee Miller in a modern Sherlock Holmes adaptation. Courtesy Douglas Elliman Realty
The home was also in episodes of the TV series “Elementary,” which starred Lucy Liu and Johnny Lee Miller in a modern Sherlock Holmes adaptation. Courtesy Douglas Elliman Realty
It has room for all of the family. Courtesy Douglas Elliman Realty
It has room for all of the family. Courtesy Douglas Elliman Realty
One of the seven bathrooms. Courtesy Douglas Elliman Realty
One of the seven bathrooms. Courtesy Douglas Elliman Realty
The hot tub sits in front of a TV - and another fireplace. Courtesy Douglas Elliman Realty
The hot tub sits in front of a TV - and another fireplace. Courtesy Douglas Elliman Realty
The property comes with expansive gardens. Courtesy Douglas Elliman Realty
The property comes with expansive gardens. Courtesy Douglas Elliman Realty
The house is on the market for just under $10m. Courtesy Douglas Elliman Realty
The house is on the market for just under $10m. Courtesy Douglas Elliman Realty
Working from home is well catered for. Courtesy Douglas Elliman Realty
Working from home is well catered for. Courtesy Douglas Elliman Realty
The estate has a heated, saltwater pool and koi pond. Courtesy Douglas Elliman Realty
The estate has a heated, saltwater pool and koi pond. Courtesy Douglas Elliman Realty
The house was in The Wolf of Wall Street when it came out in 2013. Courtesy Douglas Elliman Realty
The house was in The Wolf of Wall Street when it came out in 2013. Courtesy Douglas Elliman Realty
The French country kitchen is a chef's dream. Courtesy Douglas Elliman Realty
The French country kitchen is a chef's dream. Courtesy Douglas Elliman Realty
It is set in the historic Oyster Bay Village. Courtesy Douglas Elliman Realty
It is set in the historic Oyster Bay Village. Courtesy Douglas Elliman Realty
The new owner will be swimming in luxury. Courtesy Douglas Elliman Realty
The new owner will be swimming in luxury. Courtesy Douglas Elliman Realty
The property is 50 minutes from Manhattan. Courtesy Douglas Elliman Realty
The property is 50 minutes from Manhattan. Courtesy Douglas Elliman Realty
The specs
Engine: 3.0-litre 6-cyl turbo

Power: 374hp at 5,500-6,500rpm

Torque: 500Nm from 1,900-5,000rpm

Transmission: 8-speed auto

Fuel consumption: 8.5L/100km

Price: from Dh285,000

On sale: from January 2022 

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
While you're here
David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

Is it worth it? We put cheesecake frap to the test.

The verdict from the nutritionists is damning. But does a cheesecake frappuccino taste good enough to merit the indulgence?

My advice is to only go there if you have unusually sweet tooth. I like my puddings, but this was a bit much even for me. The first hit is a winner, but it's downhill, slowly, from there. Each sip is a little less satisfying than the last, and maybe it was just all that sugar, but it isn't long before the rush is replaced by a creeping remorse. And half of the thing is still left.

The caramel version is far superior to the blueberry, too. If someone put a full caramel cheesecake through a liquidiser and scooped out the contents, it would probably taste something like this. Blueberry, on the other hand, has more of an artificial taste. It's like someone has tried to invent this drink in a lab, and while early results were promising, they're still in the testing phase. It isn't terrible, but something isn't quite right either.

So if you want an experience, go for a small, and opt for the caramel. But if you want a cheesecake, it's probably more satisfying, and not quite as unhealthy, to just order the real thing.

 

 

Baby Driver

Director: Edgar Wright

Starring: Ansel Elgort, Kevin Spacey, Jamie Foxx, Lily James

Three and a half stars

Keep it fun and engaging

Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.

“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.

His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.

He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.

Farage on Muslim Brotherhood

Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.

if you go

The flights

Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.

The hotel

Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.

The tour

Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg

On Women's Day
The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

La Mer lowdown

La Mer beach is open from 10am until midnight, daily, and is located in Jumeirah 1, well after Kite Beach. Some restaurants, like Cupagahwa, are open from 8am for breakfast; most others start at noon. At the time of writing, we noticed that signs for Vicolo, an Italian eatery, and Kaftan, a Turkish restaurant, indicated that these two restaurants will be open soon, most likely this month. Parking is available, as well as a Dh100 all-day valet option or a Dh50 valet service if you’re just stopping by for a few hours.
 

While you're here
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
The Matrix Resurrections

Director: Lana Wachowski

Stars:  Keanu Reeves, Carrie-Anne Moss, Jessica Henwick 

Rating:****

While you're here
While you're here

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Updated: July 04, 2022, 9:29 AM
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