David and Victoria Beckham have sold their sprawling Hertfordshire home to multi-millionaire insurance tycoon Neil Utley for a little more than $19,144,650, reports the Daily Mail.
The deal also included the sale of an Aston Martin and two Jaguars. The report says that the Beckhams used the money they pooled from the sale of their seven-bedroom estate to purchase a nearly $75 million four-story townhouse in central London located in upscale Kensington.
The Beckhams have been trying to sell the residence for almost four years.
The 22-acre property comes with a second house dubbed mini-Beckingham Palace and is complete with fake ancient ruins, a woodland chapel, playgrounds, gardens, a barbecue area and a professionally maintained football field. The house was used as a children's home and also features an indoor swimming pool, a gym, a billiard room and a recording studio.
The couple purchased the property in 1999, soon after they were married. Along with their children Brooklyn, Romeo and Cruz, the couple lived in the country mansion once the athlete's contract with LA Galaxy ended.
Utley, an entrepreneur, reportedly moved into the new property last month. In addition to this home, he owns other properties in the U.K., including a golf course.
He was listed at No. 462 in the 2012 Sunday Times Rich List.
The newspaper reports that in 2013, Utley, chairman of Hastings Direct, was banned from working in the Lloyds market for a period of two years for allegedly failing to ensure adequate financial systems and controls over personal injury claims. He was compelled to pay a little more than $216,070 toward tribunal costs and stepped down from his post as the chief executive of IAG U.K. by "mutual consent."
