As reported last month, spending on £10mn+ homes in London reached a seven-year high in 2022.
There were 152 £10mn+ sales in the capital in the year to October 2022 with a combined value of £2.8bn – and we hear some big money has been splashed in a pre-Christmas shopping spree across the golden postcodes.
PrimeResi’s exclusive intel reveals the most notable sales closed over recent months – from record-breaking shell & core penthouses to turnkey mansions – as economic warning lights failed to outshine PCL’s appeal in the eyes of HNW buyers…
Chelsea Barracks, Belgravia (asking £50mn)
Submitted by Knight Frank
One of the standout sales of 2022 was recorded at Chelsea Barracks only a few weeks ago.
Knight Frank has confirmed exchanging contracts on a marquee seven-bed townhouse at Qatari Diar’s flagship scheme in Belgravia, which had an asking price of £50mn.
“This substantial sale demonstrates the continued strength and resilience of Chelsea Barracks and London’s super-prime market despite strong headwinds both geo-politically and economically,” said the agency.
Location undisclosed, Notting Hill (£45mn)
Submitted by Beauchamp Estates
Full details are being kept under wraps, but another large-scale deal went through in Notting Hill recently, involving a £45mn house on one of the neighbourhood’s finest garden squares.
Cresswell Place, Chelsea (guide price £40mn)
Submitted by Ian Green Residential
A turnkey mansion in the midst of The Boltons Conservation Area found a buyer after listing quietly at £40mn.
Weighing in at c.11,000 sq ft, the period pile on Cresswell Place has five floors of “unrivalled” living accommodation kitted out with the latest tech. Along with some large-scale reception spaces and five bedroom suites, the “incredible” leisure facilities include a 15m swimming pool, gym and spa.
Location undisclosed, Mayfair (£37.5mn)
Submitted by Beauchamp Estates
The details are subject to a strict NDA, but we hear a trophy apartment in Mayfair was recently tucked away at an impressive £37.5mn.
Holland Park Gate, Kensington (list price £32.5mn)
Submitted by Lodha UK
A penthouse at Lodha UK’s ultra-luxe Holland Park Gate scheme in RBKC sold for over £5,500 psf – close to its list price of £32.5m and a record-breaking price for a shell & core unit – shortly after the official sales launch in mid-2022. Further penthouses are due to be released early next year.
Tom Clabburn, Sales Director at Lodha UK: “Despite global economic uncertainty Holland Park Gate has seen outstanding success in the marketplace. Buyers are reassured by the product quality and impeccable service that the Lodha UK brand has become synonymous with. The record-breaking ‘price per square foot’ achieved for the Penthouse at Holland Park Gate is evidence of this, and we look forward to unveiling further releases in 2023.”
Phillimore Gardens, Kensington (guide price £29.975mn)
Submitted by Knight Frank
This “fabulous” six-bed family house was completely rebuilt by Studio Indigo. It was sold to an American family who were relocating from the West Coast to London to set up a family home, and loved the views across Holland Park to the rear.
Hamilton Terrace, St John’s Wood (asking £27mn)
Submitted by Ian Green Residential
A substantial family house in St John’s Wood found a buyer after listing at £27mn.
The detached, stucco-fronted number on Hamilton Terrace came with two mews houses and “meticulously” refurbished interior, measuring a total of over 12,500 sq ft.
Cadogan Square, Knightsbridge (£24.95mn)
Submitted by Beauchamp Estates
One of PCL’s most sought-after addresses, Cadogan Square, was the site of a near-£25mn sale in H2.
Penthouse, The Broadway (asking £19mn)
Submitted by Northacre
The fourth penthouse to find a buyer at Northacre’s flagship luxury scheme in Westminster sits on the 16th floor, and has 360-degree panoramic views and a 1,300 sq ft wrap-around roof terrace.
Pitched at £19mn, the 3,218 sq ft four-bed came with a “truly unique” interior by Charu Gandhi’s luxury design house Elicyon, mixing contemporary pieces with collectables and antiques.
Millfield Lane, Highgate (guide price £17.95mn)
Submitted by Savills
A buyer picked up this striking architect-designed home in arguably the best position on Millfield Lane, opposite Highgate Ponds and with sweeping views over Hampstead Heath, the City, the West End and beyond.
Elsworthy Road, Primrose Hill (asking £16mn)
Submitted by Ian Green Residential
A hefty unmod mansion in Primrose Hill sold for nearly £16mn. The Arts and Crafts affair on Elsworthy Road had been in the same ownership for over 50 years and was in need of the full works. It has, however, the potential to become “one of the finest houses in the area”, according to agents, given the coveted position backing directly onto the park, sheer scale and array of period features.
Old Park Lane, Mayfair (guide price £15.95mn)
Submitted by Savills
An “elegant and impressive” lateral on the fourth floor of this prestigious building – with views over Green Park – was snapped up November.
Lincoln’s Inn Field, Holborn (guide price £15mn)
Submitted by Savills
Savills confirmed the sale of a significant property overlooking Lincoln’s Inn Fields, the capital’s largest public square, which the agency was marketing at £15mn.
Weighing in at a mighty 14,500 square feet, the handsome five-storey mansion started life as two separate properties. An amalgamation occurred in the early 1800s, and the building recently underwent a transformation at the hands of David Chipperfield Architects.
Nick Verdi of Savills Shoreditch Office: “This exceptional Georgian home stands proudly as one of the largest residential homes in central London.
“We saw strong international interest from across Europe and beyond, and after competition it has sold close to guide price to a family who are already based here in London.
“Properties of this size and calibre in the city are exceptionally rare to come to the market and as such they remain highly sought after. We are continuing to see demand for sizeable best-in-class family homes as there is such limited supply, particularly of rare historic properties which have been renovated to provide the best of both worlds – a seamless blend of modern facilities and original features.”
Grosvenor Square, Mayfair (guide price £15mn)
Submitted by Savills
“Classic Mayfair elegance at its best” is how Savills described this 4,389 sq ft apartment on the second floor of well-regarded building on the famous Grosvenor Square, which found a buyer off-market.
Carlyle Square, Chelsea (guide price £14.45mn)
Submitted by UK Sotheby’s International Realty
This six-storey townhouse off the King’s Road, measuring 5,100 sq ft, opens out onto a triple-level landscaped garden arranged around a Norwegian maple tree.
The OWO, Whitehall (asking price £14.25mn)
Submitted by Savills
A fully-dressed show apartment at the reinvention of the Old War Office in Whitehall sold within 24 hours of becoming available.
Adam Simmonds, Savills director, super prime sales: “Because of the nature of the building, every apartment in the development has a unique floor plan and this one immediately captured the imagination of our buyer.”
Tite Street, Chelsea (guide price £13.95mn)
Submitted by Savills
Sold over the summer, this “incredibly unique and special” six-bed studio house sits on one of Chelsea’s most historic streets.
Upper Wimpole Street, Marylebone (guide price £13.7mn)
Submitted by Knight Frank
This “rare and exceptional” Georgian townhouse is set across five floors and offered over 7,500 sq ft of well-proportioned space in the midst of Marylebone Village.
The Park Crescent, Marylebone (guide price £12.75mn)
Submitted by Knight Frank
A significant sale was recorded at Amazon Property’s super-prime scheme in Regent’s Park, described as “one of London’s finest residential developments”. The four-bed duplex has vast entertainment space and ceiling heights of 3.73m.
Westbourne Park Villas, Notting Hill (guide price £11.5mn)
Submitted by Savills
This five-bed Victorian house, sold in December, offered around 6,645 sq ft of “impeccably designed” internal space and a prime position in W11.
Farm Street, Mayfair (asking price £11mn)
Submitted by Wetherell
This iconic house, steeped in history, is said to be where Wallis Simpson began her affair with the then Prince of Wales. It sold in early December, achieving close to the asking price.
Peter Wetherell, Founder & Chairman of Wetherell: “I have known this house for my entire career in Mayfair, in 2022 celebrating 40 years working as an estate agent in Mayfair. Farm House is one of the mostfamous and photographed houses in the area. We marketed it as ‘A freehold Mayfair townhouse with façades of the past’.
‘The Mayfair Farm House’ is a unique wide fronted townhouse portraying a Mayfair of old but harking back to Jacobean and Medieval times. The property has also had a series of famous owners and visitors which has added considerably to its cachet and appeal. Wetherell was sole selling agent and it was offered at £11mn and sold for very close to the asking price.”
Randolph Road, Little Venice (asking £10.5mn)
Submitted by Aston Chase
A sale was agreed on an elegant five-bed house (3,876 sq ft) in Little Venice, with private front and rear gardens, and direct access to the large communal gardens with children’s play area and tennis court.
Tregunter Road, Chelsea (£10.2mn)
Submitted by Knight Frank
A classic Victorian end-of-terrace in the Boltons Conservation Area sparked competitive interest and went on to sell for £10.2mn. The Knight Frank team had contracts exchanged within six weeks of meeting the vendor.
Further Reading
Super-Prime Deal Digest: Surveying London’s trophy home sales in 2022 so far (July 2022)
