Mandelson des. res. up for sale
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.PETER MANDELSON is to sell the pounds 750,000 house in west London's fashionable Notting Hill that led to his downfall as a cabinet minister last month.
Mr Mandelson, who stands to make a pounds 300,000 profit on the house in just two years, will buy a flat. But he is unlikely to move to a more downmarket area; friends suggest he will stay in or close to Notting Hill.
The former Trade and Industry Secretary will use the proceeds to pay off the pounds 373,000 personal loan from Geoffrey Robinson, the former Paymaster- General, which enabled him to buy the four-storey Victorian terrace house for pounds 475,000. He also took out a mortgage with the Britannia Building Society.
Last month's disclosure of their arrangement provoked the resignations of both men and the departure of Charlie Whelan as press secretary to the Chancellor, Gordon Brown.
Mr Mandelson hopes the decision will enhance his prospects of returning to the Cabinet before the next general election. He said yesterday: "I want to repay Geoffrey Robinson's loan because that's the right thing to do ... It is a necessary step to sort everything out."
Mr Mandelson said of his house: "It's not huge, but it is nice, in a good street with smashing neighbours, and I will miss it."
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments