View all newsletters
Latest in Luxury - Sign up to our newsletter

Exclusive London Penthouse Sells For $72m Amid Uncertainty

By Alex Martin

London’s luxury real estate market has been given a well-timed boost with the news that a super-prime penthouse has sold for a reported $72million. The sale represents one of the biggest in the United Kingdom in the last year.

The property is the largest in the new Clarges Mayfair development on Piccadilly, which has proved popular with the global elite since its completion last year. The purchase was completed by Quintessentially Estates working on behalf of an international client.

While uncertainty over Brexit is causing many investors to think twice about a move to London, this significant sale will be seen as proof of the continued confidence in London’s future economy regardless of its future relationship with the European Union.

Penny Mosgrove, CEO of Quintessentially Estates said: “We are thrilled to have been involved in this transaction of such a stunning project and securing an excellent deal for our client. But really, the story here is that it is a purchase that represents confidence in the prime central London market, and assurance in the UK’s economy despite Brexit and other global pressures.”

The penthouse enjoys sweeping views over London with Green Park immediately below and Buckingham Palace, The Ritz and Piccadilly Circus close by. Amenities within the development go beyond what many five-star hotels offer with wellness facilities including a gym, a spa, and a 25-metre indoor pool.

Interior design for all 34 residences was undertaken by the world-renowned Martin Kemp, who aimed to transfer the Art Deco traditions of Mayfair into each residence in its own unique way.

This latest sale is likely to alert other buyers of London’s potential with the exchange rate on the dollar being so favorable. Indeed, Quintessentially Estates are currently working with a number of high net worth individuals keen to invest in London.

Content from our partners
The Most Iconic Film Locations in Spain
Why Belize Makes an Incredible Romantic Getaway
The Places Philanthropy Can Take You

Simon Garcia, director of Quintessentially Estates, added: “Our clients are confident about the market long-term, many of whom are entrepreneurs and business owners who have or are experiencing rapid growth, with continued positive forecasts.”

Select and enter your corporate email address Be the first to know about the latest in luxury lifestyle news and travel.
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thank you for subscribing to Elite Traveler.

Websites in our network