London’s most expensive home, The Holme, is back on the market for $446 million (£250 million) after being repossessed by receivers.
The 205-year-old mansion, currently believed to be the most expensive property on the market in the world, according to Architectural Digest, sits on four acres of land in Regent Park, one of the city’s eight royal parks.
The mansion, designed by prominent 19th-century architect Decimus Burton, was previously owned by members of the Saudi royal family, who defaulted on a loan worth approximately $180 million.
Receivers also seized other assets backing the loan, including a private plane and a New York City home.
According to the Financial Times, The Holme is the most expensive asset among those backed against the debt, and its sale is seen as the quickest and easiest way to repay the loan.
The mansion is expected to be in high demand among London’s wealthiest residents and wealthy foreigners who have been flocking to the city in recent years.
The sale of The Holme is expected to surpass the city’s previous most expensive real estate deal of $375 million (£210 million).
The two-storey mansion offers a picturesque example of Regency-style architecture and is defined by an Ionic-style portico.
The mansion was previously owned by James Burton, a notable Regency-era property developer and family member of Decimus Burton. The property has a rich history and is located in one of London’s most sought-after areas.
The sale of The Holme is being handled by agents at Knight Frank and Beauchamp Estates.