Fashion icon and billionaire Tom Ford has reportedly purchased a mansion in London’s upscale Chelsea neighbourhood for £80 million. According to sources cited by Bloomberg, the transaction occurred earlier this summer, setting a new high for residential property sales in the UK this year. The property’s previous owner had acquired it nearly 20 years ago for £16 million.

Ford’s latest acquisition is a notable addition to his substantial real estate holdings, which include residences in New York, Los Angeles, Aspen, Palm Beach, and the Hamptons. According to property data, these are valued at over £191 million together.

The designer, who rose to prominence as Gucci’s creative director before launching his own label in 2005 with former Gucci CEO Domenico De Sole, recently finalized the sale of his brand to Estée Lauder for £2.1 billion. This major transaction boosted Ford’s net worth to over £1.5 billion.

Following the sale, Ford announced his departure from the creative side of his brand, capping off his tenure with his Fall 2023 collection. The designer’s exit comes after a 13-year run, during which he grew his label into a globally recognized name. Haider Ackermann has since taken the reins as the brand’s creative director, following a brief period under Peter Hawkings.

While specific details on the location of Tom Ford’s recent property purchase remain undisclosed, reports suggest it’s a “white stucco-fronted mansion in a garden square.” Positioned between Hyde Park and the River Thames, the Chelsea property was initially bought nearly 20 years ago for £16 million by its previous owner.

Ford reportedly closed on this new home over the summer, coinciding with his decision to part ways with another property in Regent’s Park. The timing aligns with a surge of high-end property transactions by affluent buyers, spurred by the UK government’s new budget, which introduced increased taxes on luxury home purchases above certain price thresholds.

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