Duke of Westminster starts to feel the pinch

Good to know we’re all suffering - rich and poor - as the banks go to the wall and stock markets plunge. The Duke of Westminster, who with an estimated fortune of £6.6bn (before today), is richer than the Queen, put his 92ft yacht, the Ilona of Kylesku, on the market in May for £2.5m but has been unable to attract a buyer.

This is despite the yacht being something of a bargain considering that he has spent £6m on three refits. When the Duke bought the 100-year-old vessel in Palma it was virtually a wreck. Yachting buffs now regard it as a wonder to behold. The three guest cabins are fitted out in varnished mahogany and there is cabin space for four crew. The deckworks are in teak and, according to yacht broker Camper and Nicholson, she is "immaculate".

Meanwhile, Jemima Khan, daughter of financier Sir James Goldsmith, has apparently just missed out on making a £15m profit on the house in Chelsea Square she bought when she was with boyfriend Hugh Grant following the break-up of her marriage to Imran Khan. Jemima paid £18m in July 2006 for the six-bedroom house and having spent £2m on renovations, was about to sell it for a tidy £35m when the buyer pulled out at the last minute.
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