Saudi Prince Khaled bin Sultan al-Saud was aiming to buy a private jet in 2016, following recommendations from his Swiss wealth advisers. Something that led them to an exhaustive analysis to check which assets could be set to maintain their assets. But everything led to a purchase, that of a 40-room mansion, which they themselves called the “London palace.”
According to pick up the Financial TimesThe situation has completely changed in the last seven years and the house built 205 years ago in Regent’s Park, called The Holme, is for sale for around 282 million euros.
A situation that has occurred after a company appointed receivers of the property after the maturity of a secured loan.
If achieved, it would be the most expensive recorded sale of a mansion in London history, but all eyes are on him, the crown prince Mohammed bin Salman. What, after the financial pressure on members of the royal family due to the reduction in state spending, is affecting some of them.
A decision that has meant that the Saudi royal family has lost one of the most expensive assets in the United Kingdom and that, in the words of a luxury property agent from London to FInancial Timesthe mansion has aroused a lot of interest.
“There is practically a ‘For Sale’ sign in front: it is not a good start. Nobody knows that it has been sold, nobody knows that it is available, nobody knows the price,” he said.
The worker defines the palace as a “mini-Buckingham Palace”, and its value has increased from the 43 million dollars paid by Prince Khaled in 1991 to the current 282 million euros.
Despite this, Mohammed bin Salman has not completely disposed of the mansion and continues to hold a stake that he can use to collect the defaults caused by the rental of the private jet.
The economic situation has not been ideal, since, as reported by the aforementioned media, the Saudi prince extended The Holme’s loan three times in 2020, and, now, according to two people with knowledge of the situation of the property, amounts to about 150 million pounds.
The sale of the “mini-Buckingham Palace” is for one of the royal advisers an example of the financial problems in which the Saudi royal family has found itself and continues to find itself in recent years.
