Lowry painting fetches £374,500 at auction

The 12in x 20in picture, The Adelphi, was painted by Lowry in 1933 and was presented to Harold Wilson by Lord Hanson, who received a knighthood in 1976 in Wilson’s controversial resignation honours list, known as the LavenderList, and so-called because it was said that the names were written on lavender notepaper by Marcia Falkender, Mr. Wilson’s trusted aide and confidante.
Other names on the Lavender List included Gannex raincoat tycoon Lord Kagan,who was later convicted of fraud, and Sir Eric Miller, who later took his own life while under investigation for fraud.
Sir James, who became Lord Hanson on Conservative prime minister Margaret Thatcher’s recommendation in 1983, lived at Kimber Cottage, Winterbourne.
He consistently featured in The Sunday Times rich list, leaving just over £10.5m pounds when he died on November 1, 2004, aged 82.
The companies his Hanson Trust acquired included Ever Ready batteries company Berec, United Drapery Stores and the London Brick Company.
Hanson Trust’s 1986 takeover of the Imperial Tobacco Group, including the Courage brewery business, cost almost £2bn.
At different times, Lord Hanson dated actresses Joan Collins and Jean Simmons and was also engaged for almost a year to iconic Breakfast at Tiffany’s star, Audrey Hepburn.
He married his wife Geraldine in 1959.
The Adelphi was auctioned at Christie’s in London and fetched significantly more than its £200,000 - £300,000 estimate.