Some homeowners undertaking renovations carry on living at their property while builders work around them. Others might rent a cheap flat round the corner. Gordon Ramsay has, however, provided a glimpse into how the superrich do home improvements.
The Daily Mail can disclose that Ramsay has just sold a house in south London for $15 million – having only bought it last year for $14.5 million – so his family had somewhere to live while their main family home less than a mile away was undergoing improvements. Although the celebrity chef made a profit of $500,000 on the sale, that figure is dwarfed by the nearly $2 million in stamp duty that he would have handed over when he bought the five-bedroom Edwardian house in January last year.
A friend of the family confirms: “This property was sold some months ago when the renovations were completed on the family home.” Land Registry documents disclose that the house was sold in May. The new owner is understood to be the boss of an energy firm.
Ramsay bought the house from Gina Coladangelo, girlfriend of former health secretary Matt Hancock, and her estranged husband, the retail boss Oliver Tress. The price the sweary chef paid provoked astonishment among neighbours. Not only was it almost double the $7.
4 million that Ms Coladangelo and Mr Tress paid in 2015, but it was $4.8 million more than the top price paid previously for any property in their street. The premium is said to be because Mr Tress and Ms Coladangelo had a baseme.