A hedge fund billionaire has bought the UK’s most expensive property sold in eight years, despite receiving a significant discount.
American Ken Griffin has added three Carlton Gardens, a property overlooking St James’ Park in London, to his portfolio of pricey properties for the sum of £95m, reduced from the original offer price of £125m.
Mr Griffin’s investments include the $200m result of New York’s most expensive real estate deal, three floors of a skyscraper overlooking Central Park and Miami’s most expensive condominium, for which he paid $60m.
“It is a historic property with a spectacular location, extraordinary elegance and stunning gardens,” a spokeswoman for Mr Griffin told the Financial Times. “It is truly a unique opportunity to own a home in London.”
The historic Georgian era home was redeveloped by property developer Mike Spink in a venture with Evans Randall Investors. The 20,000 square-foot house includes a gym, pool and underground extension. It was originally for sale for around £125 million pounds and had been offered on a off-market basis for 18 months before being snapped up by Mr Griffin.
The property, which is located close to Buckingham Palace, differs from Mr Griffin’s others in that is is not a new-build, but rather possesses a rich history. It housed the private office of Charles de Gaulle during World War II, and a statue of the French Resistance leader stands across the road.
“It’s an iconic property with great history,” said Charles McDowell, founder of Charles McDowell Properties. “He’s picked it up for a discount. For people who’ve got the money, there are real buying opportunities in London.”
Mr Griffin founded Chicago-based hedge fund Citadel, which runs funds totalling over $30bn.