Chinese billionaire given green light to build £500million central London palace

Chinese billionaire given green light to build £500million central London palace

Chinese billionaire given green light to build £500million central London palace billionaire property tycoon has been given the green light to create an eight-storey super palace overlooking Hyde Park. Cheung Chung-kiu will convert 2–8a Rutland Gate in Knightsbridge into a vast 5,782 sq metre mansion, extending the property’s basement and adding a glazed dome “halo” roof. Property experts have said it could become Britain’s most expensive private home, worth up to £500million when the building work is completed. The building, which was originally constructed as four family homes in the 1860s, was bought by the Hong Kong-based property developer for £205m this year. It had previously been the 45-bedroom London residence of the Crown Prince Sultan bin Abdulaziz of Saudi Arabia, who died in 2011. Westminster council this week granted planning permission for the building to be partially demolished and reconstructed, with remodelling of the facades and roof and the addition of a new fifth floor terrace with views of Hyde Park. It comes after the local authority imposed a ban on new super-sized homes over 150 sq metres in …
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