Nick Sweet sells Chelsea mansion for greater than £275mn
Keep knowledgeable with free updates
Merely signal as much as the UK property myFT Digest — delivered on to your inbox.
Property developer and Reform UK occasion treasurer Nick Sweet has offered his Chelsea mansion for greater than £275mn, in response to folks acquainted with the matter.
The deal for Windfall Home marks London’s most costly home sale and ranks among the many most costly on the earth. The id of the client shouldn’t be publicly identified, the folks mentioned.
When approached by the FT a number of occasions in latest weeks, Sweet denied he was planning to promote the house and threatened authorized motion. He declined to touch upon Thursday.
UK Sotheby’s Worldwide Realty was concerned with the transaction, in response to folks acquainted with the matter. It declined to remark.
Positioned within the grounds of the Royal Hospital Chelsea, the Grade II-listed property had “by no means been marketed on the market”, mentioned one agent, that means potential consumers had approached Sweet.
“Any massive purchaser available in the market over the previous few years has knocked on his door and a spread of figures has been quoted,” the agent mentioned.
Sweet’s spokesperson confirmed final yr that he and his spouse Holly Valance had been within the technique of divorcing. Valance and Sweet are each administrators of Windfall Home LLP, which has owned the home.
The Chelsea residence, whose sale was earlier reported by Bloomberg, was bought by Nick’s brother Christian Sweet in 2012 for about £75mn, when it was referred to as Gordon Home. He transferred the possession to Nick two years later, in response to courtroom filings.
Guests to the home have mentioned it has a non-public cinema with a “Sweet bar” choose ’n’ combine, an underground swimming pool and orangery, in addition to a panic room.
There have been a handful of gross sales on the high finish of London’s market in recent times, together with the Holme in Regent’s Park, which offered for £139mn in 2024, and the 45-room mansion at 2-8a Rutland Gate, which offered for greater than £200mn in 2020. The latter was the town’s priciest residential sale of all time, in response to LonRes, which tracks the UK capital’s prime housing market.
Extra could also be within the offing. Transport magnate John Fredriksen’s Chelsea mansion has been in the marketplace since final summer time with a value of about £275mn being mentioned, in response to folks acquainted with the matter.
The Sweet brothers had been principal figures behind luxurious Knightsbridge condominium block One Hyde Park, which has been a magnet for oligarchs, pop stars and different super-rich consumers.
A former donor to the Conservatives, Nick Sweet final yr took up a senior submit in Nigel Farage’s Reform occasion, promising to remodel its funds and woo vital donors.
He has spearheaded fundraising dinners which have attracted former Conservative donors, and was current at a December assembly at US President Donald Trump’s Mar-a-Lago resort in Florida between Farage and entrepreneur Elon Musk.
The leasehold to Windfall Home is owned by Windfall Home LLP, which is owned by Nick Sweet, in response to Land Registry and Corporations Home information. A mortgage owed to First Abu Dhabi Financial institution had been taken out towards the property, the paperwork present.
One other property owned by Sweet is in the marketplace with an asking value of £175mn. The five-bedroom, eight-bathroom duplex penthouse in One Hyde Park options “uninterrupted views over Hyde Park”, wraparound terraces and Jacuzzi-style jet swimming pools, in response to its itemizing.
The condominium has an impressive mortgage owed to the Financial institution of Singapore, in response to filings. The accounts for one more firm tied to Nick Sweet recommend the mortgage initially stood at greater than £80mn.
Extra reporting by Daniel Thomas, Dan McCrum and Arash Massoudi
