Saudi Prince sells Cotswold lands to the King of Bahrain for £ 120 million

0

The King of Bahrain has paid more than £ 120 million to buy a Cotswolds estate from a Saudi prince who bought it for £ 11 million in the 1990s, making him the new owner of his 18th-century mansion, 167 acres of parkland, 39 cottages, and a Norman parish church.

King Hamad bin Isa al-Khalifa, a friend of the British royal family, bought Glympton Park in February from 72-year-old Prince Bandar bin Sultan, a former Saudi intelligence chief and US ambassador.

The 71-year-old monarch, who attended £ 34,245 a year at the Leys School in Cambridge in his youth, is now listed on Companies House as the property’s new owner alongside his Cambridge-educated son, Crown Prince Salman Bin Hamad Bin Isa Al. Khalifa, 51.

King Hamad bin Isa al-Khalifa, a friend of the British Royal Family, bought Glympton Park in February from Prince Bandar bin Sultan

King Hamad bin Isa al-Khalifa, a friend of the British Royal Family, bought Glympton Park in February from Prince Bandar bin Sultan

Prince Bandar takes advantage of a massive profit from the deal – first reported by Bloomberg – since I paid a fraction of the sale price in the 1990s to buy Glympton from Australian real estate mogul and convicted fraudster Alan Bond.

He is said to have spent £ 42 million on renovations, including building a replica English pub in Glympton Park House – the estate’s nine-bedroom mansion – and installing obstacles and bulletproof glass in the driveway to stop intruders.

The prince had landing rights for his private jet at nearby Brize Norton, a secure RAF airfield that also serves the world’s super-rich, and is a short drive from the property.

The estate’s new owner, King Hamad, is a personal friend of the Queen and gifted her a pair of purebred Arabian horses in 2013 while accompanying her on the Windsor Horse Show.

The sale underscores the growing popularity of estates during the pandemic, making what a Savills broker described as the most active market for country homes since the 1980s.

The broker, who has 320 employees in his estate division, has sold 21 at a value of £ 15 million plus since the first nationwide lockdown. This compares to just one of these properties sold in 2019.

Of the 19 estates sold last year, about half went to foreign buyers from Savills’ private office, according to Crispin Holborow.

Glympton Estates Ltd, the company that manages the post in rural Oxfordshire near Woodstock, claimed £ 25,000 from the government leave scheme in December last year. the Guardian reported.

The company manages the household staff for the house and does the bookkeeping.

The estate's new owner, King Hamad, is a personal friend of the Queen and gifted her a pair of purebred Arabian horses in 2013 while accompanying her on the Windsor Horse Show.

The estate's new owner, King Hamad, is a personal friend of the Queen and gifted her a pair of purebred Arabian horses in 2013 while accompanying her on the Windsor Horse Show.

The estate’s new owner, King Hamad, is a personal friend of the Queen and gifted her a pair of purebred Arabian horses in 2013 while accompanying her on the Windsor Horse Show.

Prince Bandar, 72, is a former Saudi intelligence chief and ambassador to the US.

Prince Bandar, 72, is a former Saudi intelligence chief and ambassador to the US.

Prince Bandar, 72, is a former Saudi intelligence chief and ambassador to the US.

Prince Bandar had previously been embroiled in claims of corruption related to BAE Systems, Britain’s largest defense company, which was accused of secretly paying him £ 1 billion in bribes in exchange for setting up the al-Yamamah. £ 40 billion arms deal in the 1980s – a claim he denied.

The arms deal was investigated by the Serious Fraud Office before halting its investigation in 2006 on the orders of Attorney General Lord Goldsmith, citing concerns about “ national security. ”

Glympton was owned by the heirs of 17th-century baron and Whig politician Sir Thomas Wheate until it was sold by the family in 1944.

A house has occupied the site of the current mansion since the 16th century or earlier, but the current property dates mainly from the 18th century and was radically remodeled in the 19th century.

Prince Bandar’s Eton-trained son, Prince Khalid, is said to be in negotiations with Jeremy Clarkson in 2015 to build a high-performance race track on the estate.

Neighbors at a possible site, a former RAF airfield near the village of Enstone, were shocked at the idea that it would become a race track and the plan never materialized.

The village of Glympton nestled in the Oxfordshire countryside 3.5 miles north of Woodstock

The village of Glympton nestled in the Oxfordshire countryside 3.5 miles north of Woodstock

The village of Glympton nestled in the Oxfordshire countryside 3.5 miles north of Woodstock