Saturday, 18 November 2017

Formula 1 tycoon moves in

FORMER Formula 1 boss Ron Dennis has purchased part of the former Park Place estate in Remenham, reportedly to build his own mansion.

The 70-year-old, who currently lives in Virginia Water in Surrey, bought 175 acres of land after selling his 25 per cent stake in the McLaren Technology Group for
£275 million.

The deal was revealed in documents filed at Companies House by Abelo Estates, a firm recently created by Mr Dennis.

The land, which was sold by Spink Construction, is next to what was once the most expensive home in Britain.

Developer Michael Spink sold Park Place and 40 per cent of the 500-acre estate for a record £140 million in 2011 after spending four years renovating and modernising the property, which is Grade II listed and about 300 years old.

The buyer was Andrey Borodin, who was chief executive of the Bank of Moscow but fled Russia in 2011 after being accused of fraud and was granted political asylum in 2013.

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