Tai United has brought its maiden UK play to market – a super-prime scheme right opposite Buckingham Palace.
The Hong Kong-listed firm swooped on 6-9 Buckingham Gate last year, buying the glorious Grade II Italianate block off a JV between Brockton Capital, Mountgrange and The Rothschild Foundation for a solid £112m.
The main section (7-9) has now been launched as The Buckingham, comprising six lateral two and three beds with unbelievable views right across Her Majesty’s HQ.
Billed as “London’s most distinguished address”, there’s oodles of provenance, with original architecture by Sir James Pennethorne (a protégé of John Nash who also designed the south wing of Buckingham Palace, including its famous ballroom), and construction by George Trollope & Sons, who also worked on the Palace.
After housing some of the capital’s most powerfully-titled individuals during the 1800s and 1900s, the mansions served as offices and government premises until 2008, when they hit the market for refurbishment and restoration. The three-year project has delivered AAA-spec units with floorplates ranging from 1,718 square feet to 5,189 square feet, all served by secure underground parking and 24-hour concierge and security.
Apartment One has come up with the interiors, which are unique to each unit and make the most of the Regency proportions and original features. Prices are starting at £4.350m for a two-bed and go all the way up to £18m for a three-bed duplex penthouse with two private terraces. Beauchamp Estates has been instructed and apparently someone has already bought in at £11m.
Oh, and it sounds like Number 6 – part of the same scheme – is being primed to launch later this year as an incredible 16,000 square foot mega-mansion, with six bedroom suites, a leisure complex, fully-stocked wine cellar, and a rumoured price tag of £70m…
Gary Hersham, Head of Beauchamp Estates: “The Buckingham is one of the most prestigious ultra-prime apartment schemes to be unveiled in London, with the residences looking directly onto Buckingham Palace. The magnificent Nash-like Italianate building was originally designed by one of the architects involved in the creation of Buckingham Palace and now as modern homes each of the apartments provides exceptional lateral living, with generously proportioned rooms.”
Marcus O‘Brien, Senior Negotiator at Beauchamp Estates Private Office: “The apartments at The Buckingham are located on the south-east side of St James’s, a Royal retreat, which has the benefit of two Royal parks – St James’s and Green Park – and borders Mayfair and Belgravia. The grand white stucco mansions and buildings that border Buckingham Palace are some of the grandest in the capital. They offer discerning buyers the opportunity of acquiring homes with outstanding lateral space, generous ceiling heights and large rooms, which are not always readily available elsewhere.”
In a statement to investors announcing the original acquisition last September, Tai said its decision to enter the market had been prompted by the UK’s vote to leave the EU: “Brexit and the recent depreciation of GBP provide the Company with opportunity to acquire quality assets in the United Kingdom at attractive price.”
In Pictures: The Buckingham (Tai United Holdings)
Beauchamp’s Marcus O‘Brien is on +44 (0) 20 7408 0007