Sting Makes Millions In Profit After Selling His London Townhouse

Sting has made a lot of money throughout his musical career, and now has added around $20 million to his name. That money has nothing to do with Sting’s career. It actually has to do with the fact that Sting sold his home in London, according to the Daily Mail.

The townhouse, which boasts nine bedrooms, was bought by Sting, 63, and his wife Trudie Styler, 61, back in 2003. Before Sting and his wife bought it, the home was owned by Labour MP Shaun Woodward. Sting purchased the home from Woodward for around $8.6 million, which means Sting has made around $1.6 million for every year that he has owned the property.

Sting ended up selling the property after he reached a deal with the buyer, who has not been named. The deal between Sting and the buyer was reached about two weeks ago, and whoever bought the house will be able to view St. James Park, as the 18th-century property overlooks it.

Not only does Sting’s former home have nine bedrooms, but it features six bathrooms and five receptions rooms. The home sat on the market for a year before someone bought it. The home was purchased for millions more than what the asking price was, according to the Evening Standard.

The sale price of the home is around 16 times higher than the average price of a home in Westminster. The sale price is around 100 times more expensive than the average home in England, which means that the person or persons who purchased Sting’s home will pay a stamp duty (tax) of around $3.2 million.

Apparently, Sting lived in a prestigious area, as one estate agency said that the location of where Sting lived is the most prestigious street in the surrounding area.

Sting and his wife have been married since 1992, and they own plenty of luxury homes all around the world. One of the homes Sting owns is a 600-acre estate in Tuscany. That property is where Sting’s own brands of olive oil and wine are produced by his staff. Sting and his wife also own a $25 million duplex apartment over in New York City, as well as a piece of property in Malibu, right on the beach. Sting bought the Malibu property back in 1998 for around $5 million. In England, Sting owns a farmhouse in the Lake District, as well as an 800-acre estate in Wiltshire.

As for why Sting and his wife decided to sell their home, the reason is not known.

[Image By Samir Hussein/Getty Images]