A bankrupt property investor has been forced to put his Grade II listed mega mansion on the market for £28 million.
Kevin Cash, who built a £500 million global property empire, put North Aston Hall on the market after being declared insolvent at Oxford County Court.
Cash, who made his first millions selling frozen food, created an empire extending from Mayfair to Miami and was one of the most influential figures in the London property market.
The 54-year-old’s bankruptcy declaration is the latest reversal since he was found liable for fraudulent misrepresentation in a High Court action in February.
Cash is said to owe more than £40 million to creditors, with HM Revenue & Customs claiming that he owes £13 million in tax.
The Jacobean-style mansion, this year’s most expensive country home, is set in 194 acres (790,000 sq m) of Oxfordshire countryside. It includes an orangery, a roof terrace with conservatory, an 18th-century wine cellar and 11 bedrooms, including a 2,500 sq ft master suite.
The property also has landscaped gardens and a leisure complex with a swimming pool, tennis court and billiards room. Two farm buildings and four guest houses bring the estate’s total number of bedrooms to 30.
Cash lived in the mansion, built in the late 1700s by the renowned architect John Yenn, with his fourth wife, Carla, and their two children.
He also had a £10 million home overlooking Regent’s Park in northwest London.
According to the Daily Mail, his wife Cara recently sent a message to businessman Darius Khakshouri, to whom she was once close, saying: “We have nothing left.”
Khakshouri offered no sympathy. In the February High Court case, the judge ruled that Cash and his friend Tony Jimenez had lied to Khakshouri about their being “in control” of Charlton Athletic FC, and owed him more than £3 million in damages.
Khakshouri’s solicitor, Ian Baker of City litigation specialists PGB Gitlin Baker, suggested Cash will be hard pressed to keep any assets from his creditors.
“The hyenas are circling the rotting carcass of what is left of the Cash estate, fighting over what little meat remains on the bones,” Baker told the Daily Mail.
In 2011, in a case brought by his butler and housekeeper who unsuccessfully claimed to have been unfairly dismissed, a tribunal heard Cash thought nothing of spending £50,000 a month on groceries at North Aston Hall.
Cash reportedly went bankrupt as a teenager but survived the blow and went on to make his millions.
After his frozen food venture, his money-making escalated during the 1990s when he began buying up prime London properties and investing in internet firms.
He set up the Bluestar property group which buys and sells London residences, and he manages property portfolios for some of the UK’s richest celebrities and businessmen.
His companies manage property which includes exclusive homes in Mayfair, Miami and Marbella.
Among his close friends was property developer Scot Young, who plunged to his death from the balcony of his lavish apartment in Montagu Square, Marylebone, in 2014.