Britain’s most expensive house, Updown Court, has been sold, according to reports.
The property, in Windlesham, Surrey, once carried a £70m price tag and was redeveloped in 2002 in a joint venture between developer Leslie Allen-Vercoe and Irish Nationwide Bank.
The 58-acre property had been on the market for a number of years but had failed to fetch a buyer.
Nama is said to have acquired the loan on the property for £20m. The house’s £35m selling price represents a substantial victory for the “bad bank”. The buyer is said to be a foreign businessman.
Knight Frank and Hamptons International acted as agents on the sale.
james.a.kenny@estatesgazette.com
