One of the most luxurious properties in all of Britain, the Updown Court located some five miles south of Ascot has now been deemed as the most expensive house in the U.K, but sadly, this one of kind luxury property still remains unoccupied and is almost on the verge of being seized. The Updown Court was initially seen on the market list in the year 2005 and even six years ago, it was considered to be the most expensive property in U.K. However, even after being put up for sale numerous times over the course of six years and being viewed by numerous potential buyers, this luxury residential property still stands without an owner. As per reports, due to its inability to be sold, Updown Court is now under the threat of being seized on behalf of Irish taxpayers.
The Updown Court features more than 250 tons of Italian marble, 27 bathrooms and is located on a sprawling 50,000 sq. feet of land. This magnificent luxury mansion was originally purchased by Prince Sami Gayed of Egypt in 1977, but was later abandoned in the year 1987, after extensive fire damage. The mansion was eventually brought by Leslie Allen-Vercoe, a property tycoon who went into a partnership with Irish Nationwide Building Society and took loans amounting to $97 million. As per the arrangement, the tycoon’s company, Updown Court took the responsibility of building the property and then sell it off to pay back the loans. Now, this luxurious property is on the verge of being attached by the National Asset Management Agency (Nama).
According to John Denney (Chief, Country Houses, Hamptons International),
“We’ve been extremely unlucky. We’ve come very close but this is very much a one-off property and needs a special buyer: a VIP person from overseas looking for an alternative to London.”
Via The Telegraph