'London's most expensive apartment' on sale for for a cool £150 million in Admiralty Arch

July 21, 2016

 

It's just a short hop from Buckingham Palace and has been home to such luminaries as Sir Winston Churchill and Lord Mountbatten.

Now, a flat has become available for sale in Admiralty Arch for an estimated £150 million.  The apartment is believed to be the most expensive ever put on the market in London after topping One Hyde Park, at £140million.

Estate agents expect that the 12-bedroom property will go for as much as £9,000 per sq ft – far higher than the £1,500 City of Westminster average.

 

The flat comes with six-metre high ceilings, extravagant cornicing, original fireplaces, a concierge service, off-road valet parking and lifetime membership of a private members' club.

It is being sold by Spanish developer Rafael Serrano, who bought a 250-year lease of the building from the Government in 2012 for £60m. He is also turning the site into a luxury hotel.

It is being quietly marketed to wealthy buyers and investors, who have the option of turning it into four flats or keeping it as one big apartment. The stamp duty for the flat, which will be part of a block of serviced properties, will come in at £16 million.

Whoever buys the apartment must put down a deposit now, and move in within three years. This comes one day after a note from investment firm Société Générale forecast a 50pc fall in the price of London luxury property as a result of the vote to leave the European Union.

 

“It’s extremely rare for developments that are steeped in history, as well as offering unrivalled interiors and a full concierge service, to come to the market,” said Tim Macpherson of estate agency Carter Jonas.

“The ceiling heights alone are at least a third higher than that of other luxury London apartments  then there’s the simple cachet of living at this address and presumably its unmatched London views.”

Mr Serrano has hired a crack team of designers and architects to renovate Admiralty Arch, including Michael Blair, who designed the interiors for the Connaught and Claridges hotels.

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