Tony and Cherie Blair have sold a house for £860,000 more than they paid for it just four years ago.
The sum is vastly more than anything they have made from previous property sales.
The ‘stunning’ three-bedroom Georgian townhouse in Central London was bought in 2010 for their son Euan.
Tony and Cherie Blair have sold a house for £860,000 more than they paid for it just four years ago
The Blairs paid £1,290,000, but have now sold it for £2,150,000.
It means the property went up in value by an average of £17,200 a month for the 50 months they owned it – more than seven times the average monthly wage in Britain.
In the past five years they have sold four of their properties for a total profit of £1,308,499. Yet they still own nine more homes, now estimated to be worth a total of £30million.
Euan’s house was sold because he is moving to an even bigger one. After marrying last year, he and his wife Suzanne, 26, are doing up a £3.6million Grade II-listed townhouse with four bedrooms and a playroom.
They will move in once expensive refurbishments have been completed, including a £100,000 Bulthaup kitchen, as favoured by celebrities such as Robbie Williams and Kim Kardashian.
The Blairs recently complemented the six-storey property in Central London by buying a £1.2million mews cottage immediately behind it.
There is no mention of Suzanne’s name on the title deeds of her new home. The townhouse was bought jointly by Euan and Cherie, 59, while the mews cottage is owned solely by Cherie.
The two houses are back-to-back and have interlocking floors in a rear extension block which could in theory be knocked through to create a single five-bedroom home.
The house where 30-year-old Euan used to live has been sold to a leading solicitor and his wife. It was marketed as ‘a stunning, freehold, Georgian townhouse which has been totally refurbished and also extended’.
The advertisement read: ‘The property offers 1,707sq ft of accommodation arranged as three/four reception rooms, three bedrooms and, on the lower ground floor, accommodation that would be ideal for a nanny or a work place.’
Since leaving Downing Street in 2007, the Blairs have amassed a property empire. The millionaire couple have bought homes for their three eldest children, although the ones for Nicky, 28, and Kathryn, 26, cost considerably less at £1.35million and £975,000 respectively.
Euan married Suzanne last September at South Pavilion, the Blairs’ Grade I-listed mansion in Buckinghamshire which is now said to be worth £9million.
Earlier this year, Mr Blair, who earns millions of pounds a year from his consultancy roles and charges fees of £250,000 for public speaking, was forced to deny being motivated by money.
He insisted: ‘Reports of my wealth are greatly exaggerated. I read I’m supposed to be worth £100million – Cherie’s kind of asking where it is. I’m not worth that, half of that, a third of that, a quarter of that, a fifth of that... I could go on.’
Mr Blair was recently named philanthropist of the year by GQ magazine in recognition of his ‘philanthropy, establishing three charities’.
