US Hedge Fund Billionaire Gets £125m London Home For Just £95m

Ken Griffin, the billionaire CEO of US hedge fund Citadel, has bought a prestigious London home previously offered at £125m for just £95m, it is reported.

The property at 3 Carlton Gardens occupies an ultra-prestigious location close to Buckingham Palace. It also has an illustrious past, being a former home of British prime ministers and the wartime office of Charles de Gaulle. The property has been recently extensively renovated including the all-important basement development.

Although the sale appears to offer a substantial discount on the original off-market ‘offers around’ price it still makes 3 Carlton Gardens London’s second most expensive property purchase over the last ten years.

In reporting the sale Oliver Williams of Forbes suggests although the house is something of a ‘Brexit bargain’ it is also a vote of confidence in the London super prime market – and could lead to more buyers with dollars to spend coming to London. He says: “News of such a significant purchase will give many prime real estate investors confidence in the market despite current Brexit uncertainty.

“With such savings to be had – and a favourable exchange rate to match – London’s real estate market can expect to see much more American interest in the future.”

Indeed, it is probably the origin of the buyer that is as or more interesting than the price with this sale. Not too long ago, Russian or Middle Eastern buyers would have been first in the line to snap up a property like this.

Source Forbes
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