London’s swankiest property goes on sale at £150 million

  • August 21, 2018

London’s swankiest property goes on sale at £150 million

A luxury apartment in London, located in the city’s historic Admiralty Arch, which overlooks Buckingham Palace, has come into the market for sale exclusively priced at £150 million. Wonderful views are not just the perks of buying this 15,000 sq ft apartment but will also buy you British Queen as a neighbour.

If the said flat gets sold at this price, it will become London’s most expensive flat – beating One Hyde Park, which was sold for £140 million in 2014.

Situated on The Mall – leading from Trafalgar Square to Buckingham Palace – the luxury pad in a Grade I listed building in Admiralty Arch boasts 12 bedrooms and as many as 12 bathrooms and considered to be one of the most expensive residential properties in London.

Admiralty Arch was built in 1910 as a working monument to the British Navy and a memorial to Queen Victoria and was once used to be home of former PM Winston Churchill and Lord Mountbatten among several other influential figures at the time.

It is said that the property is already being shown to affluent potential buyers but is currently in the restoration process and will be converted to a 100 bedroom hotel, spa, private residences and private members’ club. Therefore, any potential investor interested to buy this apartment will have to pay a deposit now and he will be allowed to move in within three years.

Besides luxury apartment, you will get:

  • Rooms with six metres high ceilings
  • Antique fittings with original fireplaces
  • Off-road valet parking
  • A private entrance with a personal lift
  • 24-hours concierge facility
  • 24/7 security & surveillance
  • Lifetime membership of private members’ club

Spanish developer Rafael Serrano, who bought a 250-years lease to the building from the Government for £60 million four years ago and he is now offering potential buyer to own a huge apartment in its entirety – or split it into four separate apartments. The average price is said to be in the range of £8,000 – £9,000 per square foot – bringing it to about £150 million in total. Stamp duty for this property would be around £16 million.

Mr Serrano previously said:

“The option for one purchaser to buy one serviced-residence would create the largest serviced residence apartment in London, and with the best views in the capital.”

Admiralty Arch has always been considered a symbol of British social and political power and now it is being reshaped to transform into hotel and luxury residences in London.