Britain's most expensive home!

Posted: 14/09/2012

The home were talking about is a white plazzo style building located in London with a view of Hyde Park. It boasts 45 bedrooms, lifts to various floors, an underground car park and even bullet proof windows! It may sound like a mansion from a movie set however, it was the former residence of the Lebanesse Prime Minister and is being offered exclusively to a group of wealthy international buyers for £300 million!

Britain’s previous most expensive home was the 300 year old Henley-on-Thames house which sold for £140 million last year. The current most expensive house in Britain is located between Harrods and the Royal Albert Hall in Knightsbridge and the building is rumoured to contain millions of pounds worth of gold leaf decoration. The property is a massive 60,000 square feet and is on the site of the old German Consulate General’s office. It was redeveloped in the 1980s creating four separate flats but the former owner Raqiq Hariri converted it into one large house.

According to Halifax, the average house price for Britain excluding London is £160,250 meaning that 1,872 typical homes could be purchased with the £300 million it would take to buy this property on Rutland Gate in London. This proves how the London property market is so different to the rest of the country.

The stamp duty alone on this property would cost around £21 million and according to a Mayfair estate agent, the property isn’t really ideal for foreign buyers as it lacks privacy, security and a garden.

What do you think of the current gap between the London property market and the rest of the country where most people are struggling to secure a mortgage?

Amanda McGovern, Pali Ltd

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(0) Comments housing market, home, property, London

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