Tom Ford has continued his global property spree with the acquisition of an £80 million townhouse in London’s exclusive Chelsea district, marking Britain’s biggest property deal of the year. The former Gucci and Yves Saint Laurent designer, who recently sold his fashion brand to Estée Lauder for £2.2bn, has invested heavily in luxury properties around the world, bringing his total spending to around £270m.
The Chelsea property, a white-stucco-fronted mansion in a garden square, was purchased just before the UK budget was announced, allowing Ford to save £1.6 million in tax. Many wealthy buyers, especially Americans, rushed to complete their purchases before Chancellor Rachel Reeves increased stamp duty surcharges on second homes. According to Paul Finch of Beauchamp Estates, many wealthy Americans, including Ford, are looking for homes abroad as a potential haven for a possible Donald Trump presidency.
Ford’s latest purchase joins an elite real estate portfolio that includes a $42.25 million mansion in Aspen, a $52 million Hamptons estate, and an $18 million townhouse in Manhattan. The acquisition follows a trend among wealthy buyers, although London’s luxury property market has seen sales fall by more than £30 million due to recent tax concerns.
Ford’s relationship with Trump has been tense. Reports in 2017 indicated that he refused to dress Melania Trump, prompting Trump to later criticize him. Despite these controversies, Ford’s growing mansion empire has cemented his position as a major player in the world of luxury real estate.