Tuesday, June 25

Flat goes on sale for £75million in upmarket Knightsbridge area of West London



A stone’s throw away from the Harrods department store and with a Rolex luxury watch shop underneath, the 9000sq ft flat is situated in the upmarket Knightsbridge area of the capital and has views over Hyde Park.

Split across two wings by a 50m hallway, the so-called city wing contains the bedrooms, while the park wing contains living and entertaining spaces, according to the Savills estate agent which is managing the property.

With such a staggering high asking price, a waste paper bin would take up the equivalent of £8,333 worth of space, the Mirror reported. The most expensive and the cheapest locations to rent in the UK.

Meanwhile, the stamp duty on the property amounts to almost £9million. And as would be expected for a house with such a high guide price, residents are given access to the building’s concierge service, library, entertainment room, dining area, private cinema, games room, wine storage, gym, swimming pool, spa, and car park.

Independent buying agent Henry Pryor told the Mirror that the flat was a “trophy home”, and the buyer is unlikely to care about the price. He said: “These are people who buy property just as they buy cars or watches – it’s about a statement and not absolute value.

So long as London remains one of the addresses that the rich and famous want to include on their note paper they don’t really care what they pay he added.

The flat comes on the market a month after the Conservatives won the general election, and shares in Foxtons estate agents lept by 13 per cent – likely sparked by relief that Labour would not be able to impose a mansion tax.

Amid fears a price boom will soon hit, Savills has predicted a 19.3 per cent growth in mainstream house prices over the next five years and 10 per cent price growth in London.