Former Formula One boss Ron Dennis has purchased a vast estate in Berkshire, an affluent county outside of London—a real estate deal done around the same time that the McLaren Technology Group founder sold his stake in the race car company for £275 million (US$358 million).
Filings with the U.K.’s registrar of companies show Mr. Dennis purchased around 175 acres near Henley-on-Thames, one of the most expensive areas in the country, for an undisclosed amount. The deal included 12 parcels of undeveloped land and several three- and four-bedroom cottages, property records show.
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An company Mr. Dennis recently formed bought the parcels from luxury property developer Michael Spink’s enterprise Spink Construction, according to filings.
Mr. Dennis’s new digs sit on a portion of the Strowdes Estates in the town of Remenham, according to company filings—making his new neighbor Russian billionaire Andrey Borodin. In 2011, Mr. Borodin set a record for the country’s most expensive home when he bought the 300-year-old mansion Park Place and hundreds of acres also from Spink Construction for £140 million.
Mr. Dennis, 70, the former chairman and chief executive of McLaren, ended his 35-year relationship with the British automaker in June, when he agreed to sell his remaining 25% stake in the company, which runs the F1 team and supercar maker McLaren Automotive Ltd..
The company’s line of sleek mass-produced vehicles sell for between US$200,000 and US$300,000 (though McLaren has sold unique models for more than US$3 million).
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The race-car tycoon and father of three is reportedly taking a break from the fast lane to build a mansion and farm on his new Berkshire property, according to the Evening Standard, which first reported the land sale.
An attorney for Mr. Dennis and Abelo Estates Ltd., the company he formed to purchase the estate in Berkshire, did not immediately return a request for comment.