Toprack Mansion Sells For Nearly 100 Million Dollars in London
London real estate is the place to be for the top end these days. Another blockbuster sale has occurred as the Kazakhstan billionaire Horelma Peramam bought the Toprack Mansion on London’s famed billionaire row, Bishop’s Avenue.
The home sold for 50 million pounds, nearly 100 million US dollars. Forbes has recently had the home listed as the 2nd most expensive home in the United Kingdom.
Toprak Mansion on The Bishop’s Avenue, Barnet, sold last week for £50m, breaking a record for a newly built property which was set only two weeks ago by a nearby house called Palladio, which was sold for £35m. The name of the Toprak purchaser was given as Horelma Peramam, a billionaire from Kazakhstan.
Toprak Mansion was built by Halis Toprak, a Turkish businessman, although it is understood that he has never lived there. He sold up after his bank was seized by the Turkish government.
It was marketed discreetly for several years, and the asking price climbed from £30m to £50m as prime residential London prices soared. The house had been nicknamed Top Whack Mansion but will now be known as Royal Mansion. via the Times Online.
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Comment by Santa Barbara Real Estate Voice on 23 January 2008:
Tom,
Crazy to see some of those numbers on home values. Here in the Santa Barbara area we have seen some of those values in the last few years. The Bixbi Ranch sold for a reported $140 Milliion last year.
With the weak dollar, we are starting to see buyers from Europe with a lot of purchasing power in our town. Specifically in the areas of Hope Ranch, Montecito and along the coast.
A home was just about finished with construction 6 months on the beach here in Montecito and a buyer from England came over and paid a reported $28 Million for the property and then proceeded to change plans and remodel the house.
I assume we will see more.
Pingback by The 230 Million Dollar Mansion - Most Expensive Home Sale Ever — The Real Estate Bloggers on 23 May 2008:
[...] If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Steel tycoon Lakshmi Mittal has bought Noam Gottesman’s Kensington Palace Gardens home for a cool 117 million pounds. The previous record was just up the road on London’s Billionaires Row. [...]
Comment by Real Estate in Australia on 21 June 2008:
Holy Guacomole, a hundred million and bought by a billionare from Kazakhstan.
I think the businessman is operating under a psuedonym and it’s clearly Borat who was the purchaser, using the spoils from his recent hit movie.
Question is, what will happen to Property values in the area if the news leaks and it turns out to be him?
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