Moving Home? Why Not Choose An End Of Terrace For £250million?
18 Carlton House Terrace is set to be the most valuable property in the UK. The end of terrace property in London has gone on the market for a cool £250million. With 50,000 sq ft of living space it is also one of the capital’s largest private homes and is situated just a stone’s throw from Buckingham Palace. The six-storey Grade 1 listed Regency mansion is described as one of the finest residences in London and comes with a strictly confidential brochure through the estate agents dealing with the sale. Details about the interior of the property are sketchy and for security reasons the brochure only shows black and white photographs from the 1890’s as the current owner has not allowed any up-to-date pictures. Inside it is believed to have a huge ballroom and a magnificent double staircase and is said to be owned by a member of the Middle East royal family.
The house is registered in the British Virgin Islands and will probably be bought by a foreign buyer. Its local corner shop will be Fortnum and Mason, the Queen’s favourite. The property is 1,537 times more expensive than the average UK house that stands at around £162,606. Stamp duty for the house is a staggering £17.5million and the owner hopes that its location just off The Mall will be a unique selling point. Regency townhouses such as this have become unaffordable in recent years but this one breaks all records.
More than 400 properties in London were sold in 2012 over the £5million mark, up from 350 in 2011. Last autumn a house located in Rutland Gate, overlooking Hyde Park, went on the market for £300million but had to reduce the asking price when it failed to find a buyer. Another terraced house went on the market at around the same time for £100million at 1 Cornwall Terrace situated opposite Regent’s Park. Estate agents at the time said that it was the highest price ever asked for a terraced house.
Just outside Central London in Hampstead Heath Hall was marketed for £100million but was later lowered to £65million. However Cambridge House on Piccadilly is currently being renovated. Formerly known as the In and Out club, it is thought to fetch more than £200million when it finally goes on the market due to its location.