Updown Court fetches £35 Million After 6.5 Years on the Market!

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Updown Court Sells After 6.5 Years on the Market!


The Irish National Asset Management Agency (NAMA) has appointed receivers to take control of the UK's Updown Court. The mansion was redeveloped in 2002 by a joint venture between developer Leslie Allen-Vercoe and Irish Nationwide Bank, which has now been nationalised and its loans transferred to NAMA. The bank is said to have lent up to £63 million for the project. Updown Court first came on the market in 2005 for more than £70 million and became the most expensive private residence ever in the UK. The developers failed to find a buyer but claim they had interest from one British, one Russian and one Far East buyer.

NAMA figures they'll only need to sell Updown Court for £20 million to make a return. The property sits within 58 acres of landscaped grounds, formal gardens & woodland and offers several ponds with fountains, a heated marble driveway, helipad, a lake, tennis court, security lodge & two guest homes. The home itself is 52,000 square feet and features over 103 rooms including a bowling alley, two indoor & three outdoor swimming pools, panic room, an underground squash court, 50 seat cinema, underground garage for at least 8 limos and 22 bedrooms. With NAMA seeking to get as little as £20 to recoup their costs it's likely we'll see a major price reduction in the coming months. Tim Perkin of CB Richard Ellis has been appointed the lead LPA receiver to Updown Court.

Category:

Entertainment

Tags:

• UpDown Court
• Surry
• UK
• English
• Most Expensive in UK

[JTHA80]

At 1:05 in the video is a photo from the staff/guest house - the only photo that isn't from the interior of the main house.

And this house was primarily aimed for the asian billionaires (they were probably aiming for some oil sheik) - but I find this property to be extremely ugly, both inside and out. And when I would decide to buy a house in the english countryside, I want it to look like an english country house; not some house I could buy in Beverly Hills

[TranswarpXL]

@denisedin1 You can't pay your bills but you have a computer and the internet?

[JIMB0SLIC3]

@TranswarpXL idiot there's a thing called the library

[mandmedlem]

@JTHA80 There are benefits living in the UK and not the US and english houses are generally very ugly, in my opinion. This house is beautiful.

[MrChaza199]

its not very English

[kishanhhh]

Wrong actually!

This Magnificent Mansion is finally SOLD in October 2011... for half the asking price: Updown Court fetches just £35m after six years on the market

WHO BOUGHT IT? ...>>>>An Indian Businessman

Go Broo..!! THUMBS UP

[denisedin1]

PEOPLE WITH MONEY THE REST OF US CAN'T PAY OUR BILLS

[loknmarvie257]

The property is beautiful but they did not build a house for a family they built a building with different kind of Swimming pool.. Interior design?...Failed...