Lakshmi Mittal Forced To Rent Out His Summer Palace In North London

Hear hear, recession has struck everyone hard, the rich included. We are referring to the richest man of Britain, steel magnate Lakshmi Mittal. Apparently, the man has had not succes in finding a buyer for a luxe home of his, which is why he had decided to rent out the property instead.

The plush estate is located in Hampstead in North London and goes by the name of Summer Palace. Experts calculated its price to be $65.5 million before the credit crunch hit. This is indeed a home fit for a king with 11 luxuriously decorated bedrooms with 12 complementing bathrooms. There are six reception rooms, a glass lift leading to the swimming pool plus a jacuzzi along side a steam room.

Mittal bought this home in 1996 at a very high price and is looking to sell it as he relocates to West London in the Kensington area. If the Summer Palace finds prospective tenants, then it can revv up some cool $16,300 every week.


Via dailymail

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