UK's most expensive home once owned by George II's son 'sold'

The 54-year-old Russian steel tycoon, Vladimir Lisin, with a fortune of 15 billion pounds, bought the 300-year-old Park Place from developer Michael Spink who bought the estate for 40 million pounds in 2007, the 'Daily Mail' reported.

Set in 200 acres of land in Oxfordshire, the Franco- Italianate estate once belonged to Frederick, Prince of Wales, eldest son of George II, while more recent owners included the Greek shipping billionaire John Latsis and a local council that ran it as a school.

It has two golf courses, 10 tenanted cottages and another eight in need of renovation. The home boasts 27 bedrooms.

Its 140 million pounds price tag makes Park Place the UK's most expensive home, knocking One Hyde Park, London, off the top spot, which was sold for 136 million pounds earlier this year, the report said.

The mansion's second owner was Frederick Prince of Wales, the eldest son of George II. Ostracised from father's court, the Prince loved spending time at Park Place. His children, including George III, spent many years of childhood there.

However, the prince died before the King at the age of 44. His widow, princess Augusta, decided to move and sold the property to General Conway