By +Eric Jafari
A London mansion could be set to break the
UK record for a property transaction after going on sale
for £250 million. The Grade I listed Regency property - described
as one of the largest residential homes in the central London -
overlooks St James's Park in the centre of the capital.
The average residential
property in the capital sells for £370,000, but the Carlton
House Terrace home has been put on the market at 700 times this
figure. Should a buyer be found, the new occupants of the home will
find themselves neighbours of the Queen.
At present, the exclusive property is said to be owned by an
elderly member of a Middle-Eastern royal family, the Evening
Standard has reported. A "strictly confidential" brochure details
some of the features of the building, including a huge ballroom and
original double staircase. For security reasons, the only
photographs available of the inside of the property were taken in
the 1890s, in black and white.
The six-storey property has 50,000 sq ft of living space, making
it around 30 times larger than the average London home. A source
told the news provider that the building has had millions spent on
restoration work, meaning it is in superb condition inside and out.
"The building is very much as it was in its heyday," they
At present, the record price paid for a London property is the
£136 million transacted for an apartment at One Hyde Park in
Knightsbridge. Documents filed at the Land Registry in April 2011
reveal that an unnamed buyer using Ukrainian lawyers purchased two
apartments in the building and knocked them into one to create a
25,000 sq ft penthouse. This property is reported to have its own
wine cellar, and also access to room service at the neighbouring
Mandarin Oriental hotel.
Chris Candy, one of two brothers behind the London residential
development, commented at the time that there is a lot of Indian
and Chinese money in London. He also claimed to be doing "a lot of
deals" with property investors from the Middle East.
25 April 2013
Average House Price,St James Park