The Beckhams’ ‘Beckingham Palace’ Plus an Aston Martin and Two Jaguars Sold at £11.5 Million
By Rachelle Corpuz | March 17, 2014 3:25 PM EST
David and Victoria Beckham's Rownerbury House, or what is popularly known as the "Beckingham Palace," situated in Hertfordshire, has been sold at £11.5 million which is equivalent to more than $20 million dollars.
David Beckham smiles after a news conference in Miami, Florida February, 5, 2014. Former England soccer captain Beckham announced on Wednesday that he is exercising his option to become the owner of a Major League Soccer team in Miami. REUTERS/Andrew Innerarity
According to the Daily Mail, a 52-year-old multi-millionaire insurance tycoon named Neil Utley was the one who bought David and Victoria's sprawling 12-acre real estate property. Mr. Utley has already been living in the mansion since February, the British webloid further reported. He is the chairman of Hastings Direct, one of the fastest growing insurance companies in the UK.
In 2013, Mr. Utley has gotten into a predicament after he had admitted having detrimental behaviour during his time at Equity Red Star. He was ordered to pay £130,000 in court-hearing costs and was forbidden to work in the Lloyds market for a couple of years.
The wealthy businessman is at number 462 in the Sunday Times Rich List of 2012, The Mirror reported. Mr. Utley made his riches from insurance as well as a number of business establishments in the UK.
Aside from the property, Mr. Utley also received David and Victoria's Aston Martin and two Jaguars as part of the deal. It also has second house called a mini-Beckingham Palace, a woodland chapel, ancient ruins replica, garden, barbecue area, recording studio, indoor swimming pool, snooker room, gym, and a football pitch.
The "Beckingham Palace" was reportedly bought by David and Victoria in 1999, several months after they wed. They bought it for £2.5 million so they have earned £9 million profit from their recent deal with Mr. Utley. Three of their four kids, Brooklyn, Romeo, and Cruz, have lived in the house for a long time before their family moved to Spain because of David's football career. David and Victoria reportedly needed to sell the property to obtain cash to invest in their new mansion located in central London.
Recently, it has been reported that David and Victoria also bought the late fashion designer's Gianni Versace mansion in Miami for £36 million.
To contact the editor, e-mail:
Most Popular Slideshows
- Taylor Swift Named Forbes' Second Highest Paid Country Musician [PHOTOS]
- Forever Lost: Indescribable Anguish for Malaysia Airlines MH17 Families, Remains of Some Victims May Never Be Found (PHOTOS)
- Global Aviation Accidents: UN to Form Safety Task Force, Gov'ts Should Share Intelligence Info to Avert Future Incidents on Flying Over Warzones (PHOTOS)
- Lunch with the Gods: Pope Francis Eats with Vatican Workers in Cafeteria
Join the Conversation
- Jeremy Lin, Chandler Parsons React To 'Role Players' Label By James Harden
- 2014 Commonwealth Games Medal Tally: Games are Through Day 5 and Australia Continues to Dominate Count; Day 5 Highlights
- Roger Federer Not That Good If Different Surfaces Were To Exist – Giles Simon
- Jeremy Lin Should Be Ready to Start for Los Angeles Lakers as Steve Nash Confirms Retirement
- Dan Bilzerian Opens Up to Howard Stern, Poker Pro Admits He Once Had Sex with 16 Women in 12 Days
- Malaysia Airlines Flight MH17: Parents of Australian Passenger Want ‘Space Scientists’ to Investigate Crash; Believe in ‘Possibility’ of Survival -- Report
- Childhood Obesity is Strongly Linked With Early Puberty: Study Reveals
- Why Internet of Things is the Next Big Thing for Tech Giants like Samsung, Google and Apple
- Instagram's Newest App Bolt Now Available Exclusively in New Zealand, Singapore and South Africa
- Megan Fox's Weight Loss Aided by Low Carb Paleo Diet: Benefits of the Diet