Property Tycoon Buys One Of London's Biggest Homes For A Record $120 Million

Wikimedia CommonsHomes on London's Cornwall Terrace.Nearly a year and a half after it hit the market for a whopping $160 million, London's One Cornwall Terrace has sold to British property tycoon Marcus Cooper, according to The Sun.

He reportedly paid $120 million for the home, significantly less than its asking price. Even with the discount, it's a record price for a terraced home, The Sun reports.

The 21,500-square-foot mansion, near Regent's Park, is named after King George IV, who was originally the Duke Of Cornwall. It has seven bedrooms, nine bathrooms, and 11 reception rooms.

It was the official London residence of the New Zealand High Commissioner from 1955 until the 1970s, and was later occupied by squatters, according to The Sun.

But it later went a full restoration, and now includes a sports complex with an indoor swimming pool, iPad-controlled lighting, and a 40-meter landscaped garden.

Cooper, founder of Marcus Cooper Group, is a property developer in London whose portfolio includes residential and commercial properties throughout the city.