Simon Cowell’s £18 million home in Wimbledon has failed to sell, forcing him to rent out the mansion while he focusses on a new talent discovery venture with TikTok.
The music mogul, 63, bought the seven-bedroom home for £15million in 2019, but has never actually lived in the property.
Despite having had it on the market since late last year, the agents have failed to find a buyer, forcing The X Factor supremo to rent it out instead.
It was put on the market for £18 million with estate agent Fuller Gilbert following extensive renovations.
Simon Cowell, 63, has never actually lived in the property, which was put on the market for £18 million with estate agent Fuller Gilbert following extensive renovations. Cowell had been intending to set up home there with fiancée Lauren Silverman , 45
Renowned for his withering put-downs of contestants on TV talent shows, what must Simon Cowell make of the estate agents tasked with selling the seven-bedroom Wimbledon house he bought for £15 million in 2019?
Cowell had been intending to set up home there with fiancée Lauren Silverman, 45, their son Eric, eight, and her son Adam, 16, from her previous marriage to businessman Andrew Silverman.
It is thought that the Britain’s Got Talent judge was wanting to send Eric to £24,255-a-year King’s College School.
But a ‘dummy run’ of the 14-mile trip to the prestigious school is said to have taken two hours on one occasion, which is believed to be one of the major factors in him deciding to remain at his current Holland Park residence instead.
Despite having had it on the market since late last year, the agents have failed to find a buyer, forcing The X Factor supremo to rent it out instead
‘Simon spent around £1 million tailoring it to meet his and his family’s needs, so he was definitely planning to make it his base in the UK,’ says a source close to Cowell.
‘However, when he realised that London traffic could make the relatively short trip so arduous, he determined it wasn’t the place for him and put it on the market.
‘The fact that nearby Hammersmith Bridge, which closed in 2020 over safety fears, has still not reopened to cars certainly doesn’t help the already congested surrounding roads.’
Although details of how much it costs to rent Cowell’s South London house are being kept private, similar properties can easily go for five-figure monthly sums
Although details of how much it costs to rent Cowell’s south London house are being kept private, similar properties can easily go for five-figure monthly sums.
One example is a six-bedroom detached home situated on nearby Murray Road, priced at £13,500 a month.
His Holland Park home was burgled in 2015, when £1 million in jewellery was stolen.
It was also where he injured himself falling down the stairs in October 2017.
The music man: The music mogul, 63, has aided the careers of megastars One Direction, Jennifer Hudson and Kelly Clarkson and now hopes to launch the next generation (pictured with Harry Styles)
Cowell also owns an £18 million mansion in Malibu and previously had a £19 million home in Los Angeles.
The TV talent scout made his money aiding the careers of megastars One Direction, Jennifer Hudson and Kelly Clarkson and now hopes to launch the next generation with the help of social media giant Tik Tok.
He is taking his search for talent to the popular app with a new feature called StemDrop, which he’s launching with producer Max Martin.
Martin is the mind behind huge hits such as Britney Spears’ Baby One More Time and Taylor Swift’s Shake It Off, will write new songs for the singers to perform.
Next move: Simon Cowell has revealed he is teaming up with TikTok to launch a new talent discovery feature after putting the X Factor on pause
Simon recently teased a return to the music business by saying he’s going to ‘announce something soon’, despite taking a step back from work earlier this year.
And the announcement of StemDrop appears to be what Simon was hinting at.
The news comes after it was reported Simon received £90 million for a brand new deal to keep his global franchise of Got Talent shows on TV.
Simon appears on both Britain’s Got Talent and it’s US counterpart as a judge – with variations of the competition airing in over 69 different countries.