Hong Kong Single Family Office Acquires $262M London Luxury Property

The Hong Kong single family office of Cheung Chung Kiu just acquired the most expensive house in London: for $262M bought a luxury mansion at 2-8A Rutland Gate.

New owner for the luxury palace with 45 rooms

The property at 2-8a Rutland Gate is one of the most prestigous and luxury objects in London. The 45-room house in Knightsbridge is near the famous Hyde Park. In the past, the building was the home of Rafic Hariri, Lebanon’s former prime minister. So far, the object was managed by the co-founder of Swiss wealth manager Decisive Wealth. In total, the living space of the building amounts 62,000 sqf and was built in 1830. It included a swimming pool, a spa area and bullet-proof windows.

New owner: Hong Kong-based single family office of Cheung Chung Kiu

Cheung Chung Kiu, who’s family office is the new owner of the building, is a billionaire from Hong Kong. His net worth is estimated at $1.4BN. Mainly, he earned his wealth through real estate investments and developments. Kiu is the founder of CC Land Holdings. In the United Kingdom, CC Land bought the former Leadenhall building, often called the “Cheesegrater” skyscraper.

Sources
Bloomberg, 13.1.2019
Anthony Delanoix, 13.1.2019