One of the UK’s richest men is putting his lavish London home on sale after declaring that the country has “gone to hell”. John Fredriksen, the ninth richest billionaire in the UK, is selling his 300-year old Georgian manor after relocating to the United Arab Emirates.
More about the manor
According to a report in The Times, Fredriksen’s mansion is one of Britain’s most expensive houses at an estimated $337 million (£250 million). The private residence, named The Old Rectory, is located in Chelsea – an affluent area in West London and one of the city’s most coveted neighbourhoods.
The property features 10 bedrooms spread across 30,000 sq ft, two acres of gardens, and a ballroom. Norway-born Fredriksen has been its owner since 2001.
The Old Rectory is the third-largest private residence in the UK, second only to Buckingham Palace and Witanhurst.
Fredriksen leaving the UK
Shipping tycoon John Fredriksen, 81, had recently criticised the UK’s economic policies, moving major business operations to the UAE. He criticised Chancellor Rachel Reeves for scrapping the non-dom regime, which had allowed wealthy individuals domiciled overseas for tax purposes to pay UK tax only on income earned within the country.
“Britain has gone to hell,” he told E24. It’s starting to remind me more and more of Norway. Britain has gone to hell, like Norway. I try to avoid Norway as much as I can," he said.
{{/usCountry}}“Britain has gone to hell,” he told E24. It’s starting to remind me more and more of Norway. Britain has gone to hell, like Norway. I try to avoid Norway as much as I can," he said.
{{/usCountry}}(Also read: ‘Britain has gone to hell’: Why one of UK's richest billionaires left London and moved to UAE)
Selling a $337 million manor
According to the report in The Times, Fredriksen has already fired more than a dozen domestic employees.
He has been arranging private viewing of his manor. The report said it is unlikely to find the 300-year old Georgian manor listed for sale on a real estate website. Sales of such scale are usually done in confidential “off-market” deals through special agents.
The 81-year-old is among several rich Londoners who exited the UK following the end of the non-dom tax regime.