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Eric Schmidt bought the Dutch Park Mansion for almost £42 million, the latest well-known real estate transaction by an American buyer in London.
The former Google chief purchased 18 Netherlands Park, a double front stucco residence, in May last year, according to people familiar with UK real estate records and the issue.
One person said he plans to rent a London property.
A Schmidt spokesman confirmed the deal and said “Eric will invest in high-end real estate properties around the world.”
Agents in last year’s US presidential election reported that American buyers are increasing forces in London’s top end, taking advantage of relatively soft markets and strong dollars.
According to Agency Night Frank, Americans surpassed Chinese citizens in the last quarter of 2024 as the largest cohort of overseas buyers in central London.
Eric Schmidt ‘Investing in High-End Real Estate Properties Around the World ©Nathan Laine/Bloomberg
Fashion designer Tom Ford and Behdad Eghbali, co-owner of the Chelsea Football Club, bought the trophy in London last year.
The Italian mansion in the Dutch Park is located between Notting Hill and Kensington, with streets around the eponymous park among the city’s most expensive.
According to Land Registry Records, the house was purchased in 2022 by William “Bill” Adderley for £36 million. Adderley could not be immediately contacted for comment.
Adderley’s son’s family office confirmed that the property belonged to Bill, but declined to comment further.
The Grade II registered Mid Victorian Villa comes with a MEWS house at the rear, real estate records show.
Since standing in 2018 as an executive chair for Google parent Alphabet, Schmidt has become a high-tech investor and philanthropist.
London’s super prime rental market often costs tens of thousands of pounds a week, but it’s growing in search of a place where clients are more flexible and less headaches from maintenance and renovations.
The topmost part of London’s sales market is facing headwinds due to increased transaction taxes for overseas buyers and changes to the non-dom tax regime.
Agents say that US clients tend to be less sensitive to changes in UK tax rules, as they are generally subject to global US taxation. The London-Washington tax treaty generally allows Americans to claim UK taxes that overlap US taxes.
