An article regarding the sale of Kiddington Hall in the Financial Times has highlighted that the asking price of a country house when put on the market is not the amount which will end up in the buyer’s pocket.
When grade-II listed Kiddington Hall was launched on the market in September 2009, the price tag of £42m reflected its status as one of the most important houses to be offered since the sale of Easton Neston in 2004. The main house was built in 1673 and sits in the centre of it’s 2,000-acre estate in Oxfordshire, with parkland designed by ‘Capability’ Brown. The house was remodelled in the 1850s by Sir Charles Barry in his trademark Italianate style which included the creation of a large courtyard and extensives terraces in the gardens.
The beautifully elegant house is being sold by Erik Maurice Robson, whose father bought the house for £115,000 in 1950. The sale was court ordered to fund his £8m divorce settlement, and valued his freehold interest in the house and estate at just £16m. This article states that this value is what remains after “excluding furniture, capital gains tax and sale costs”. Mr Robson has now asked the court to reduce the value of the settlement as, due to a fall in property values, his interest is now worth only £13.18m. This seems a remarkably small amount to be able to realise from such a high asking price and perhaps emphasises that a country house is not the pot of gold many imagine it to be.
Full story: ‘Stately home at heart of divorce appeal‘ [Financial Times]