Billionaire Tom Ford buys $104M London mansion in the UK’s priciest home sale this year

It’s a fashionable bargain — and a acquisition truthful large, it’s making waves crossed nan pond.

Bloomberg reports that nan American billionaire manner designer Tom Ford has shelled retired $104 cardinal for a mansion successful London, marking nan astir costly woody for a location successful nan United Kingdom this year.

Not overmuch is known astir nan residence itself, prevention for nan truth it’s located successful nan able Chelsea territory — and that he bought it complete nan summer. It stands betwixt Hyde Park and nan northbound slope of nan River Thames.

Ford, a autochthonal Texan, made nan monolithic acquisition during a slump successful nan London luxury spot market. In part, that has been owed to anticipated reforms impacting deep-pocketed UK residents who unrecorded abroad. The Labour authorities has besides upped nan stamp work connected purchases of 2nd homes. It isn’t clear if Ford sewage a discount.

Meanwhile, Americans for illustration Ford person felt nan propulsion of buying successful London, acknowledgment successful portion to a beardown US dollar. In nan first six months of 2024, nan stock of American buying London homes roseate to 6.1% from 3.3% successful nan past six months of 2023. That’s nan largest summation successful that half-on-half span of clip seen successful nan past 12 years, according to Knight Frank.

Another logic for able Americans heading to London and buying there: an flight from societal and governmental problems successful nan US.

For his part, Ford reached billionaire position astatine nan extremity of 2022, aft Estée Lauder’s acquisition of his eponymous marque astatine a $2.8 cardinal valuation. Before launching his ain company, Ford was famously known arsenic nan imaginative head of Gucci.