Rocker’s £3m shortfall on house sale ..but he still rakes in a massive profit
BY STUART MacDONALD Sir rod Stewart has sold his mansion after a three-year search for a buyer, which saw him drop the price by almost £3million.
The 74-year-old rocker put The Wood House in Essex on the market for £7.5million in 2016.
The six-bedroom manor home has a boating lake, tennis courts, a swimming pool and huge gardens.
The grade-II listed property also has a full-sized football pitch, which players from Celtic, Newcastle United and Liverpool have trained on.
Sir Rod cut the asking price in November 2016 and again in early 2018, before reducing it to £4.725million last July.
Last year, his wife Penny Lancaster, 47, blamed Brexit and a hike in stamp duty for the lack of interest.
Estate agents Savills’ website now shows that the property finally sold earlier this month. The identity of the buyer has not been disclosed.
A sale for the much-reduced asking price will still come as a tidy profit for Sir Rod, who is said to have paid £1.2million for the 28-acre property in Epping in 1986.
The singer, thought to be worth about £160million, and his family have moved to nearby Durrington House, an 18th century mansion they bought in 2013 for £4.65million.
His property portfolio also includes homes in Palm Beach, Florida, and Los Angeles.