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Letting Agents Guaranteed Rent | UK’s most expensive terrace house sold for £80m

Letting Agents Guaranteed Rent | UK’s most expensive terrace house sold for £80m

Being a property management company specialising in guaranteed rent that the biggest drawback of owning a rental property is void periods in between tenants. A buy-to-let property is no good as an investment if it isn’t making any money. This is why we offer a great guaranteed rent solution.

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For £80 million you might have thought you’d get a decent swathe of grounds, and the opportunity to get a sensible distance from any neighbours, but not in central London. A Grade 1 listed mansion overlooking Regents Park has just sold for £80 million.

So why did it fetch such a huge cost, and how does this compare to the capital’s most expensive homes?Letting Agents Guaranteed Rent

The house
The house is an impressive stucco-fronted end-of-terrace mansion, which was built in the 18320s and overseen by John Nash. According to the Daily Mail, it was bought by British property magnate Marcus Cooper.

It has been completely renovated, and now includes a gym and swimming pool within its marble and limestone halls – along with seven bedrooms, 11 bathrooms, and nine reception rooms.

So how does this compare to London’s most expensive? One estate agent told the Daily Mail that there had been six or seven sales of homes worth more than £50 million in the last six months – and that this was “at the top end” of those.

The price has apparently been cut. According to The Sun it was originally on the market for £20 million more.Letting Agents Guaranteed Rent

Most expensive?
There has been some speculation that this makes it the UK’s most expensive home. However, it doesn’t even come close.

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At the moment there are a number of properties on the market for around the £100 million mark. These include Heath Hall on The Bishops Avenue in north London – which features 14 bedrooms, a cinema, gym, wine cellar and indoor and outdoor pools.

There is also the spectacular 2-8 Rutland Gate in Knightsbridge, which was built as four homes and is now a seven story monster with a swimming pool and 45 bedrooms. It’s said to be the largest family home in London, and is currently on sale for £300 million.

Of the homes that have actually been sold, the record is held by the buyer of the £140 million penthouse in One Hyde Park in Knightsbridge. This comes with 24 hour room service, bullet-proof windows, SAS-trained security guards and a panic room – as well as floor-to-ceiling windows and a pool on the terrace.

However, how long it keeps this title is open to debate. At the end of last year, the Centre for Economics and Business Research found that London was the most expensive place in the world for super-prime residential property. It concluded that buyers would pay up to £6,000 per square foot for the best properties, and that the market was buoyant.

In 2012 alone, while elsewhere prices were struggling, this segment rose 12.6%. So who knows what sorts of prices we will see by the end of this year?

View the original article here

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