In one of the most remarkable property transactions of the past year, former Google CEO and tech magnate Eric Schmidt has purchased 18 Holland Park for a reported £42 million. The acquisition of the Grade II-listed Victorian villa in the heart of London’s Holland Park underscores the capital’s growing appeal among American ultra-high-net-worth buyers.

According to the Financial Times, Schmidt completed the purchase in May 2023, with plans to rent out the property. A spokesperson for the billionaire confirmed the deal, stating: “Eric invests in high-end real estate properties around the world.”

This impressive property is steeped in architectural significance. Designed in 1862 by William and Frances Radford, 18 Holland Park is a south-facing, Italianate villa, set across approximately 14,777 sq ft. With its regal, stuccoed façade, the house blends Victorian grandeur with 21st-century luxury. The only residence on this historic street with three connected mews houses, it also boasts a large garden, off-street parking, and a discreet yet commanding presence.

Beneath the surface, the property has been sympathetically modernised to the highest standard. A passenger lift, air conditioning, home cinema, and state-of-the-art interiors complement the property’s elegant period detailing. The square-shaped villa is defined by handsome cornicing, high ceilings, and expansive proportions that reflect a timeless design ethos.

Schmidt joins a growing list of American buyers making their mark in prime central London (PCL). As Knight Frank reported in their February 2025 PCL Sales Index, US nationals accounted for 11.6% of overseas buyers in the final quarter of 2024, surpassing Chinese nationals for the first time. With a strong dollar and relatively soft property prices, Americans are capitalising on favourable conditions.

Tom Bill, Head of UK Residential Research at Knight Frank, noted: “The global number of ultra-high-net-worth individuals rose 4.4% in 2024, with North America leading the charge. Almost 40% of the world’s wealthy now reside in the US. Some of that capital inevitably finds its way to London, particularly with the effective discount for dollar buyers hovering around 38% since 2014.”

Other notable American buyers in 2023 included fashion designer Tom Ford and Chelsea FC co-owner Behdad Eghbali, adding to the narrative that London’s most prestigious homes are increasingly viewed as sound investments by transatlantic elites.

Set between the cultural vibrancy of Notting Hill and the refined charm of Kensington, 18 Holland Park offers more than just heritage and elegance. Its proximity to Holland Park’s Kyoto Garden, the Design Museum, and Kensington High Street places it at the intersection of nature, culture, and convenience.

With excellent transport connections via Holland Park Underground and a location rooted in historical significance, this exceptional home encapsulates the enduring appeal of London’s luxury property market. As global dynamics shift, 18 Holland Park stands as a testament to the city’s resilience, allure, and timeless style.

Sources: Financial Times (April 2025), Knight Frank PCL Sales Index (February 2025)