STYLE

Which Tycoon Bought David And Victoria's 'Beckingham Palace' For £11.3 Million?

14/08/2014 16:41 | Updated 20 May 2015

The lucky man that snapped up David and Victoria Beckham's 'Beckingham Palace' in Sawbridgeworth, Hertfordshire, for £11.3 million has been named as insurance tycoon Neil Utley.

LONDON, UNITED KINGDOM - DECEMBER 01: David Beckham, Brooklyn Beckham, Victoria Beckham, Romeo Beckham and Cruz Beckham attend the premiere of 'The Class Of 92'  at Odeon West End on December 1, 2013 in London, England. (Photo by Fred Duval/FilmMagic)

Mr Utley, 52, the chairman of Hastings Direct, moved into the sprawling 17-acre, seven-bedroom estate last month with his wife, Narmali, 46, reports the Express.

The Beckhams brought the property back in 1999 for £2.5 million just three months after they got married.

They then spent an estimated £2 million renovating the property, adding a swimming pool, recording studio, garage for four cars, walled gardens, a lake, golf course, full size football pitch and a large pavilion with barbecue, gazebos and ornamental gardens.

Beckingham Palace in Sawbridgeworth, Herts. The English home of football star David Beckham and wife Victoria Beckham is a former children's home, now nicknamed Beckingham Palace (real name Rowneybury). The Beckhams spent an estimated �£2 million renovating the property, adding a swimming pool, recording studio, garage for four cars, walled gardens, a lake, golf course, full size football pitch and a large pavilion with barbecue, gazebos and ornamental gardens. The grounds are constantly monitored by a state of the art CCTV system.
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Pictured: Beckingham Palace in Sawbridgeworth, Herts
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So it's no surprise the new owner is said not to be making many changes to his plush new home.

Mr Utley made his fortune in insurance and reportedly made a cool £135 million when Hastings Insurance was sold to Goldman Sachs last November.

The Beckhams, meanwhile, have now moved onto a multi-million pound (reports range from £30m to £45m) eight-bedroom townhouse in Knightsbridge, which, wait for it, they paid for in cash.

Check out Victoria's latest fashion show below:

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