Damien Hirst has bought Toddington Manor, in Gloucestershire.
He plans to turn it into an art gallery.
He is thought to have spent about £3m on the 124 acre estate, which has 300 rooms. He might need up to £10m to refurbish it.
Local people waged a battle last year to stop it being turned into a luxury hotel and conference centre.
References: The Guardian 01/09/05 page 2, The Times 01/09/05 page 27, The Daily Telegraph 01/09/05 page 3