BRITAIN’S biggest bungalow builder has had his £10million house repossessed just 18 months after appearing on the UK’s richest people list.
Bob Bull owes £725 million in loans after a real estate deal fell through and he claims he had to borrow money from someone linked to an Irish drug cartel.
Multi millionaire Bob Bull and his fiancé Sara Nilsen have had their house repossessed
Bob joined the Rich List last year with a net worth of £1.9billion but is now fighting bankruptcy
He appeared at 88th on the Sunday Times Rich List in May 2023 with a reported wealth of £1.9 billion from turning caravan parks into luxury bungalow villages.
The 47-year-old even kept a caravan in his garden to remind him where his money came from with his £4billion business Royale Life employing over 2,000 people.
The lavish home, just outside Southampton, Hants, had a pool, gym, sauna, and a 30ft marble kitchen island.
There was also a ten-pin bowling alley and six double garages to house his 12 supercars, including two Lamborghinis and a Ferrari GTS, which have also been repossessed.
On top of that Mr Bull had hired an ex-Royal Navy sailor to be his butler.
Now, the gates have been locked and a repossession notice fixed to the front, informing people that the home is now owned by the business consultancy firm FRP Advisory.
The notice read: “Simon Carvill-Biggs and Miles Needham were appointed as Joint Fixed Charge Receivers of the above detailed property on 2 June 2023.
“The Receivers secured possession of the property on 1 July 2024.
“Should any interested party wish to collect any goods (“the Goods”) within the property, we hereby give you notice that:
“You should contact my office to arrange collection of the Goods and provide evidence of ownership by 29 August 2024.
“Otherwise, I may sell or otherwise dispose of the Goods after that date.
“The costs of any sale or storage will be deducted from the proceeds of sale of the Goods or the property.”
The receivers have wasted no time flogging it off.
The property has been listed on Rightmove for a massively cut down price of £6.5million.
Security at the mansion said Mr Bull had been gone for quite a while.
This is the second time Mr Bull has been bankrupt, he ran the UK’s second biggest caravan park until 2016 when it ran into trouble and he ended up owing £3.5 million.
He had to borrow money from his 12 year old son to buy KFC.
Speaking about that time, Mr Bull said: “I was very lonely, miserable and depressed.
“There was huge amount of shame and it gave me a breakdown. I’d borrowed money off people I’d known since childhood and lost it.
“It killed me because everybody I spoke to said, ‘You let me down’.
“It broke my heart and made me cry.”
After a few months off Mr Bull realised he could turn the caravan parks into bungalow villages for people looking to downsize their homes, the start of his new venture.
However, it all began to go wrong in autumn 2022 when he tried to refinance his company but a lender offering £2.8 billion pulled out.
Mr Bull claims that under duress he borrowed £3million from a millionaire with rumoured links to Ireland’s Kinahan crime family and this loan quickly ballooned to him owing £42 million.
He said he had to sell the securities for his business to try and repay the loan causing other lenders to lose confidence and leading to his bankruptcy and home repossession.
Bob Bull’s representative has been approached for a comment.
Meanwhile, unfortunately it’s not just multi-millionaires that can find themselves taking extreme measures to curb debts.
A gran-of-23 says she’s goes days without food – and lives in fear of debt collectors knocking on her door.
Elsewhere, others aren’t so concerned about mounting debts as one woman has defended spending thousands on a dog walker despite being in £19,000 in debt.
Bob is Britain’s biggest bungalow builder
The mansion with an indoor bowling alley has now been put up for sale