Newspaper article The Evening Standard (London, England)

LONDON HOME ON SALE FOR RECORD [Pounds sterling]250M; 5,115 London Homes Sell for over [Pounds Sterling]1m

Newspaper article The Evening Standard (London, England)

LONDON HOME ON SALE FOR RECORD [Pounds sterling]250M; 5,115 London Homes Sell for over [Pounds Sterling]1m

Article excerpt

Byline: Jonathan Prynn Consumer Business Editor

A LONDON house is set to smash Britain's price record after going on sale for [pounds sterling]250million -- 700 times more than the [pounds sterling]370,000 average property value in the capital.

The new owners of the Grade I listed Regency property, described as the biggest private home in central London, would be neighbours of the Queen and enjoy views of St James's Park. The price tag comes as figures show million pound property sales in the capital boomed last year with the total passing 5,000 for the first time.

The house on Carlton House Terrace is in the hands of an elderly member of a Middle East royal family who is discreetly trying to find a buyer, the Standard has learned.

A "strictly confidential" brochure describes it as "probably the finest residence in London" that retains original features including a magnificent double staircase and huge ballroom.

At 50,000 sq ft it is 30 times bigger than a typical London family house. A source close to the deal said the owner had spent millions restoring the magnificent interiors of the six-storey town house to their former glory.

The source said: "The building is very much as it was in its heyday. It would be for a new owner to put in the modern toys such as a swimming pool." The brochure only shows black and white interior pictures taken in the 1890s because "for security reasons the current owner does not want many of the features photographed".

The record for a house sale in London is the [pounds sterling]136 million paid for an apartment at One Hyde Park in Knightsbridge.

A house on Rutland Gate near Hyde Park was reported to have gone on sale for [pounds sterling]300 million but has yet to find a buyer.

New figures from agents Savills show that demand for multi-million pound homes in London is reaching new highs despite the global economic doldrums. …

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