François Pinault, founder of luxury conglomerate PPR, has just paid $32 million for a historic mansion in the Chelsea neighborhood of London.

It was designed, according to The Telegraph, in 1868 by Philip Webb, the ‘Father of Arts and Crafts architecture.’ It also has triple-height ceilings.

The house was previously owned by Professor Bernard Nevill who bought the house for approximately $110,000 and spent over “30 years perfecting the interior”.

Pinault plans a renovation to reinstate some of the home’s original features and to remodel the bedrooms, kitchen and bathrooms.

Mr Pinault, who owns the Château Latour wine estate, is one of France’s richest men. He possesses one of the biggest collections of contemporary art in the world.

Source: Propgoluxury