George Osborne and ex-wife sell Notting Hill family home for £3.95m

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George Osborne has finally sold his plush London townhouse for £3.95million - after knocking £1 million off the asking price.

The former chancellor put his 'immaculately presented, generous and eclectic' property in the upmarket neighbourhood of Notting Hill on the market in March for £4.95million.

But six months later Osborne - who critics dubbed the 'architect of austerity' after he started a decade of spending cuts - was forced to knock £1 million off his asking price to get buyer, according to luxury estate agent Domus Nova.

Osborne had ironically warned in 2016 that house prices across the UK would tank by between 10 and 18 per cent if Britain left the EU.

Earlier this month, Domus Nova's website revealed Osborne had exchanged contracts with an unnamed buyer. 

He had shared the property with his wife Frances, but the couple announced they were getting divorced July last year, insisting they will remain 'good friends' and 'jointly devoted' to their two children.

George Osborne has finally sold his plush Notting Hill townhouse for £3.95million - after knocking £1 million off the asking price to attract a buyer. Pictured: The home's 'immaculately presented, generous and eclectic' lounge 

Earlier this month, luxury real estate agents Domus Nova's website revealed the former Chancellor had exchanged contracts with an unnamed buyer. The property boasts a formal reception room, a dining/kitchen area, a family room and a grand study

Osborne had ironically warned in 2016 that house prices across the UK would tank by between 10 and 18 per cent if Britain left the EU. Pictured: The exterior

He had shared the property with his wife Frances, but the couple announced they were getting divorced July last year, insisting they will remain 'good friends' and 'jointly devoted' to their two children

Osborne was forced to knock £1 million off his asking price to get buyer, according to luxury estate agent Domus Nova

Describing Osborne's former home, Domus Nova says it is 'enriched with traditional features and stylishly presented throughout, from period fireplaces to elevated ceilings, elegant cornicing and rich solid wood floors'. Pictured: The kitchen

It adds: 'The house is perfectly arranged and each of the five floors exudes undeniable character that pays tribute to the area's thriving art and creative scene'

Osborne revealed in May that he is dating Thea Rogers, the 38-year-old former chief of staff who overhauled his image while he was at the Treasury.

It comes amid reports Osborne has moved to the town of Bruton in Somerset, described in Country Life magazine as the 'new Notting Hill'.

Describing Osborne's former home, Domus Nova says it is 'enriched with traditional features and stylishly presented throughout, from period fireplaces to elevated ceilings, elegant cornicing and rich solid wood floors, the subtle marriage with modern additions results in a striking and inviting family home.'

It adds: 'The house is perfectly arranged and each of the five floors exudes undeniable character that pays tribute to the area's thriving art and creative scene.

'The wide footprint, semi-detached and with side light, offers four distinct family spaces, grand and with their own distinct style and use.

'The primary, and more formal reception room, opens onto a wonderful terrace that overlooks the garden. The indulgent, and inviting, kitchen/dining and family room opens directly onto the wonderful walled garden.

Osborne and wife Frances apparently paid £1.85million for the house in 2006 when he was an opposition MP. Pictured: The home's study

'The wide footprint, semi-detached and with side light, offers four distinct family spaces, grand and with their own distinct style and use.' Pictured: A work space at the top of the property

'The primary, and more formal reception room, opens onto a wonderful terrace that overlooks the garden. The indulgent, and inviting, kitchen/dining and family room opens directly onto the wonderful walled garden'

The swanky property boasts a formal reception room, dining room, kitchen and family room, a grand study and master bedroom with ensuite, five further bedrooms, two guest bedrooms and a walled garden

The estate agency described the luxurious property as a 'bold, livable, family home epitomises eclectic and desirable Notting Hill living'

The property is a 10-minute walk from Ed Sheeran's Bertie Blossoms restaurant and the Walmer Castle pub owned by David Beckham and Guy Ritchie. Pictured: A terrace at the rear of the property overlooking the walled garden

'This bold, livable, family home epitomises eclectic and desirable Notting Hill living.'

The swanky property boasts a formal reception room, dining room, kitchen and family room, a grand study and master bedroom with ensuite, five further bedrooms, two guest bedrooms and a walled garden. 

He apparently paid £1.85million for the house in 2006 when he was an opposition MP.

He is said to have raked in £10,000 a month in rent while he and Frances were living at Number 11 when he was chancellor.

The property is a 10-minute walk from Ed Sheeran's Bertie Blossoms restaurant and the Walmer Castle pub owned by David Beckham and Guy Ritchie. 

Osborne is reported to have moved to a £1.6million Georgian bolthole in the posh Somerset town of Bruton that he snapped up in July.

The five-bedroom, late 18th century, Grade II-listed house is set in three acres of grounds in the town dubbed the most fashionable place in Britain by the Times in 2015. 

His prospective property is close to the railway station at Castle Cary, near Bruton, means that he will be able to commute to Paddington in 90 minutes for his main job as editor-in-chief of the Evening Standard.

Osborne revealed in May that he is dating Thea Rogers (right), the 38-year-old former chief of staff who overhauled his image while he was at the Treasury

Osborne is reported to have moved to a £1.6million Georgian bolthole in the posh Somerset town of Bruton that he snapped up in July

The five-bedroom, late 18th century, Grade II-listed house is set in three acres of grounds in the town dubbed the most fashionable place in Britain by the Times in 2015

The seller of the property, a retired antiques dealer, is building a smaller home for himself on what was the house's croquet lawn

Bruton was itself described by Country Life as the 'new Notting Hill' because of the swathes of celebrities and media figures who have moved there, including Sir Cameron Mackintosh, the theatre producer, Sam Taylor-Johnson, the film director, Mariella Frostrup, the Times Radio presenter, and Alice Temperley, the fashion designer.

The seller of the property, a retired antiques dealer, is building a smaller home for himself on what was the house's croquet lawn.

He met Mr Osborne during a viewing and spoke to The Times about the chancellor. 

He said: 'He said he loved the house and believed we could be good neighbours. I am sure he is right. It is a wonderful area which has become very vibrant in recent years.'

The former chancellor has a history of buying and selling expensive properties both during and after his time in office.  

Mr Osborne and his wife, Frances, 51, bought a family home in Notting Hill in 2006 for £1.85 million before the house was put on sale for £4.95 million in March after they announced their divorce. 

The split came months after Mr Osborne bought a £3 million chalet in Verbier, Switzerland.

In 2012, he also made a £400,000 profit on the sale of a farmhouse near his constituency home which had been part funded by his MP expenses. 

He stood down as MP for Tatton at the 2017 general election.

He has since taken on several lucrative jobs including a £1 million-a-year role as a consultant to Blackrock, the fund manager.

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