Today's Business Headlines: 8/7/24
has been trying to revamp a $100 million, 2,500-acre country estate he snapped up in Wiltshire, southern England, in 2022.
Schwarzman’s renovations include a new lake, a three-story wing to the property and a stable barn conversion that will become staff housing,The paperwork, which runs to hundreds of pages, shows the extraordinary hoops that Schwarzman had to jump through in order to get the plans signed off by local government pen pushers.
Schwarzman bent the ear of the UK’s new finance minister, Rachel Reeves, about how the red tape was hindering renovations at the 17th century property ahead of a dinner in New York on Tuesday. The FT also reported that the pair had discussed Blackstone’s plans to open a $13 billion data center in Blyth, northeast England, with Reeves having reassured Schwarzman that she would support the project.
According to the application, in the 1850s, it became a shooting estate, which from 1991, was developed into “one of the finest shooting estates in the south of England.”Britain’s left-wing finance minister Rachel Reeves claims she wants to rip up the current planning laws that are blamed for stifling economic growth and the country’s chronic housing shortage.
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