London's most expensive home, a 45-bedroom mansion that is said to be owned by the family of Hui Ka-yan, chairman of embattled real estate giant China Evergrande (3333), is up for sale once again.
The Knightsbridge mansion overlooking Hyde Park is being offered for sale through Beauchamp Estates.
The planned sale comes less than three years after the property was last acquired.
A British Virgin Islands-based company called Vision Perfect Global bought the mansion in April 2020 for 210 million (HK$1.82 billion).
The Financial Times reported earlier that Hui had bought the property in a deal fronted by fellow Chinese billionaire Cheung Chung-kiu, the founder of property company C C Land (1224).
Hui has been selling assets after a collapse in the real estate market pushed Evergrande and other developers into default. His net worth has slipped to about US$6 billion (HK$46.6 billion) from US$30 billion at the end of 2019.
Meanwhile, other property matters include the main units of China SCE (1966) and Shimao (0813) missing payments on 1.6 billion yuan (HK$1.75 billion) of trust borrowings, adding to a string of defaults by Chinese developers as the industry's liquidity crunch spreads.
Xiamen Zhongjun Industrial, a unit of SCE and one of the guarantors, failed to repay its 50-percent share of a trust product that was due at the end of September, according to documents sent by the issuer Everbright Trust to the product distributor.
Xiamen Zhongjun and Shanghai Shimao Jianshe, the other guarantor, both had their bank accounts frozen by a court after Everbright Trust sued them to seize assets, the documents also showed.
Bloomberg
The home has 45 bedrooms. Bloomberg
