Sir David Murray's Murrayfield mansion sells for almost Â£1m under asking price
EX-Rangers owner Sir David Murray has taken a hit of almost Â£1 million on the sale of his luxury mansion in Edinburgh.
Four years ago, the steel tycoon was seeking almost £2million for the property in the capital’s posh Murrayfield area when it first went on the market.
But after failing to find a buyer for the three bedroom villa — complete with swimming pool, wine cellar and gym — he put it back on sale at offers over £1,495,000.
Records from Registers of Scotland now reveal an offer of just £1.1 million was recorded as being accepted for the property in Easter Belmont Road last week.
Sir David sold Gers to shamed Craig Whyte for £1 in 2011 before the Ibrox club was plunged into administration.
It was announced his debt-hit former flagship firm MIH was being wound up in January 2015.
Since 2000, he has chaired the Edinburgh-based family firm Murray Capital, which has interests in manufacturing, engineering and oil and gas.
Other houses in Sir David’s street have sold for up to £2.75million. Selling agent Savills website said the property came off the market in October.
Experts believe Scotland’s high value market was badly affected by the independence referendum in 2014, held just after he put his house up for sale.
They believe confidence at the top end of the Scottish property market was eroded even further when the Scottish Government’s land and buildings transaction tax came into effect a year later, adding thousands to the cost of high-value homes.
The new owner will have had to pay £90,350 in LBTT for Sir David’s home.
Adjoining Murrayfield golf club, Sir David’s villa has a leisure suite, complete with swimming pool, fitness room and dressing room.
The wine cellar caters for Sir David’s love of fine wine, a collection he has put together from his own vineyard in France.
There is a lift to the first floor.
The sales material highlights the fact that the owners have been granted permission to demolish the two-storey mansion and build a country house in the Art Deco style.