Lingerie tycoon Michelle Mone sells her lavish Scottish townhouse for £1m

August 26, 2015 by admin
Filed under Latest Lingerie News

MailOnline Reporter

Published:
08:13 EST, 25 August 2015

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Updated:
10:30 EST, 25 August 2015

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Bra tycoon Michelle Mone has sold her luxury Scots townhouse for £1 million, just weeks after losing a row with neighbours over building plans.

The entrepreneur banked a profit of more than £200,000 on the home in Glasgow’s Park Circus area, which she bought following her break-up fromformer husband Michael.

The 43-year-old has moved to London permanently after claiming she was driven out of Scotland by SNP supporters over her backing for the Union.

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Sold: Michelle Mone put her luxury Glasgow townhouse up for sale so she can buy her husband out of their ‘dream’ mansion, and it has now been sold for a reported £1 million

The Ultimo founder, who was appointed as a business czar by Prime Minister David Cameron earlier this month, bought the townhouse for £780,700 in August 2013 and spent months renovating it.

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Pleased: The Ultimo boss put her lavish pad on the market earlier this year, and is thought to have made a £200,000 profit on the property

It was marketed by estate agent Corum for offers over £875,000 earlier this year and property records show its has now been sold to a local businessman for £1 million.

Shortly after moving into the house, Mone – who has been tipped for a Tory seat in the House of Lords – became embroiled in a row with Strathclyde University chiefs, who own the neighbouring townhouse.

She was angered after the university unveiled proposals to renovate the property so it could be used for accommodation and functions.

In a strongly-worded objection letter, Mone said she did not want ‘anti-social’ university students becoming her neighbours or attending events at the house, which is mainly used by university principal Sir Jim McDonald.

However, it has emerged that earlier this month planning chiefs at Glasgow City Council gave the green light to the building work.

After she moved into the townhouse, Mone opened the doors of the home for a photoshoot with Hello! magazine, describing the property as her ‘new beginning’.

The three-bedroom property was described by estate agents as an ‘outstanding interior designed luxury home which occupies the entire first and second floors of an impeccable refurbished period townhouse.’

It features a grand staircase and magnificent reception hall leading to a modern fully integrated kitchen and drawing room complete with a marble fireplace and a living flame fire.

The views expand over the residents central gardens in the exclusive part of the city and the master suite comes with its own wet room.

Each of the three high-ceilings bedrooms have been kitted out with lavish headboards, sparkling chandeliers and luxurious curtains.

Luxury: The lavish property in the exclusive area of the city comes complete with ornate high ceilings and large windows in the living room

Trendy: The fully-integrated kitchen has been fitted with modern, top of the range appliances and features a white gloss central island

Grand: Ms Mone didn’t move into the townhouse straight away after spending months having it renovated, including this spectacular staircase

Magnificent: The large hallway leads to the staircase in the two-storey property, which comes complete with three bedrooms

Impressive: Ms Mone bought the property for £780,000 after splitting from her then husband. The large hallway comes with a massive mirror

Interior photographs showed the living room with a baby grand piano in it and a painting of a sleeping blonde woman above the fireplace.

Last week Mone resigned from the Ultimo and MJM International boards, with the former saying her new projects and commitments had left limited time for her engagements with the firm.

This came in the wake of criticism of her appointment by the UK Government to carry out a review into how best to encourage start-ups in areas of high unemployment.

Comfy: The bay windows stream light into the living room of the property, in an exclusive area of Glasgow, which has been fully re-decorated

Elegant: One of the bedrooms in the property has been decorated with a cerise and beige velvet accessories and features a large window seat

Her credentials as a business czar have been called into question by politicians and business leaders.

At the time she put the townhouse on the market, Mone said she also planned to buy her ex-husband out of the mansion they shared in Thorntonhall, Lanarkshire.

She said: ‘I’m selling my home here in Glasgow but I also own the big house with my ex-husband.

‘For two years I’ve been trying to buy him out of it and he only agreed just the other day – which is fantastic.

‘I’m over the moon. I’ll always have a base here in Glasgow but I’ve moved in to my London home as well. So, that means I’ll have just the one home here rather than one and a half.’

Sparkling: The master suite includes a wet room, kitted out in a gold-theme, while the house also has another shower room and laundry room

Townhouse: The period townhouse (centre) has southerly views over private residents’ central gardens in the Park Circus area of Glasgow

In her recently-published autobiography, Mone admitted she put laxatives in her husband’s coffee, let down his tyres and cut holes in his boxer shorts.

She also said that on one occasion while they were still sharing the marital home, she poured cold water on his side of the bed.

She said later: ‘I am sorry for that. Sorry for that woman I became. It wasn’t nice at all.’

She said that although she has not lived in the Thorntonhall home for two years, she ‘loves’ the property, which she bought with her then husband, Mr Mone, in 2008.

They demolished the original building, and built ‘Telperion’, a home six times the size of the average British house.

‘Dream home’: This is the luxury five-bedroom mansion Ms Mone previously shared with her husband, which she plans to move back into

‘I designed it, I built it, I love it,’ she said. ‘But I’m going to change it all so that it doesn’t have any of the bad memories from when I lived there. That said, I haven’t been spending a whole lot of time in the town house since I’ve been promoting my book in America.’

In 2010, Ms Mone was at the centre of a row with neighbours over plans to add a sauna, gym and bar to the home. Five residents objected to her proposals and one said the development would ‘completely dwarf’ the rest of the street. But it was still given the go-ahead by planners.

The couple created lingerie brand Ultimo together in 1996, split in 2011 after she believed Michael had had an affair with bra designer, Samantha Bunn, with whom he has set up a rival lingerie firm.

Tycoon: Michelle set up Ultimo underwear business with her husband Michael in 1996, but they split in December 2011