Situated just a short distance from the historic city of Oxford, Wytham Abbey stands tall, commanding attention with a price tag of £15 million ($18.7 million). This remarkable estate, affectionately known as the “Effective Altruism Castle,” captured headlines in April 2022 when it was purchased by the Effective Ventures Foundation using funds from Open Philanthropy.
The acquisition sparked discussions about the use of charitable funds for such grand purchases, especially as it came to light that Effective Ventures had financial ties to the FTX Foundation, linked to the controversial figure Sam Bankman-Fried, who faced accusations of fraud.
Despite the controversy, Wytham Abbey is now up for sale, listed at £15 million by Charles Elsmore-Wickens of Savills, highlighting its uniqueness and potential value in the market.
A Closer Look at Wytham Abbey
Covering an expansive 27,000 square feet, Wytham Abbey boasts 27 bedrooms and 18 bathrooms across its 23 acres of land. Adjusted for inflation, the property’s 2022 purchase price now stands at £16.2 million.
With a history spanning over 500 years, Wytham Abbey has hosted notable figures such as Queen Elizabeth I, Oliver Cromwell, and Queen Victoria. In recent times, it served as a venue for discussions on pressing issues like artificial intelligence risks.
Never Free from Controversy!
Despite financial support from Open Philanthropy, Effective Ventures also received financial support from the FTX Foundation, linked to Sam Bankman-Fried, who was convicted of fraud and sentenced to 25 years in prison.
However, the foundation settled with the FTX estate, returning the $26.8 million received from them.
Real Estate Market Trends
While, the listing of Wytham Abbey comes amid a cooling trend in the UK’s prime country house market, where prices have dipped by 5% in the first quarter of 2024 compared to the previous year.
Despite market challenges, sellers are optimistic about the property’s appeal and value in today’s market.
Is Wytham Abbey’s rich history enough to overcome its recent controversy? Share your opinion!
