Inside a penthouse for sale for £80 million in the heart of Knightsbridge

At £80 million, it’s the most costly property within the nation to be publicly listed on the mainstream portals. Overlaying 9,400 sq. ft of prime Knightsbridge actual property, with a 2,500 sq ft roof terrace that includes a 10-metre glass-sided swimming pool and overlooking London’s greatest landmarks, a jaw-dropping price ticket hardly comes as a shock.

This billionaire’s eyrie is featured within the first episode of Channel 4’s new sequence of Britain’s Most Costly Homes — and is by far the priciest on this yr’s line-up.

“This property is like nothing I’ve ever seen earlier than,” says Joshua Marks, founding father of property company Park Lord. “Once you’re up there, you actually get a glimpse of that billionaire way of life: you come out of the hustle and bustle of Knightsbridge into this non-public oasis. It’s surreal. You’re in one other world.”

Organized over the tenth ground of the Knightsbridge Residences, the penthouse has views over the capital on each side: Massive Ben, the London Eye and Harrods on one facet, Hyde Park from the first bed room and reception room on the opposite. There are 5 bedrooms — 4 with ensuite bogs — an enormous open-plan kitchen and residing house and a cinema room.

The décor is minimalist: wood flooring, white partitions, floor-to-ceiling home windows and darkish fittings. These working components of the kitchen that the proprietor would possibly deem ugly, such because the sink (urgh), hob (urgh) and worktop (urgh) might be hid with the contact of the button. What seems to be a glass panel is definitely a hearth, by means of which you’ll see the swimming pool. The sauna comes with a built-in TV.

And but. There are different super-homes in the marketplace which value lots lower than £80 million: there’s a 13,000 sq ft townhouse at Chelsea Barracks at £55 million, whereas The Whiteley’s penthouse is £39.5 million. What do the additional thousands and thousands purchase you? To Marks, it’s all about shortage worth. “If you need a trophy asset like this, you may’t merely exit and purchase one,” he says. “It’s uncommon for a penthouse of the Knightsbridge Residences, which is without doubt one of the greatest — if not one of the best — developments in London, to be accessible.”

Bordering Hyde Park, the event, also called “199”, was developed by Hong Kong property billionaire Samuel Tak Lee and accomplished in 2005. There are three penthouses inside, two of which belong to International Media founder Ashley Tabor-King. His utility to show the 2 properties right into a single 10-bedroom mega-flat was rejected by Westminster council in 2017.

In addition to its spa and leisure amenities, the constructing has two round the clock doormen who vet all newcomers. “It was one of many first buildings that launched the form of first-class hotel-style facilities for a residential constructing,” says Marks. “It set a brand new customary for residential luxurious residing and attracted billionaires and different high-net-worth people from everywhere in the world.”

Marks tells me that, in frequent with so lots of London’s multi-million-pound properties, this penthouse has been owned by a belief for a couple of decade. It means the person who has use of it may well stay nameless on public paperwork such because the Land Registry. It was utterly refurbished to its proprietor’s tastes and has been used as a pied-à-terre. Now, with the property in much less frequent use, it has been put in the marketplace. The vendor is “critical about promoting” however as with different properties at this worth level, “they don’t have to promote — it’s probably not a monetary incentive, extra a sensible one”.

Marks listed the penthouse six months in the past. Though it’s comparatively uncommon for a property of this worth to be marketed on the open market, together with on the identical portals the place the remainder of us discover our properties, Marks felt the publicity can be helpful: “By having this property listed on the open market, it’s getting hundreds of views every single day.” This, too, is why Channel 4 approached him about that includes the penthouse in Britain’s Most Costly Homes. He agreed to participate within the present for the easy cause: “We thought that it might be good publicity.”

However though the property is being marketed by means of extra typical channels, Marks says that at an excellent prime stage, promoting is all about contacts. If he succeeds in promoting the property, Marks stands to earn £1.44 million in fee — though Park Lord is providing 0.5 per cent (£400,000) to anybody who introduces a profitable purchaser.

Who would possibly that £80 million purchaser be? In brief: a billionaire. Regardless of the value tag, Marks believes the property is prone to be snapped up by a global purchaser as a “trophy asset” so as to add to their portfolio, relatively than as a everlasting house. Like different mega-homes across the capital, this penthouse is prone to lie empty.

To date, in addition to totally different property professionals each week, Marks has proven the property to 6 potential patrons (often known as “principals”), 4 of whom are “well-known billionaires”. All potential leads and patrons are rigorously vetted earlier than they’re permitted entry. “We need to know that they’re credible and have the funds,” says Marks. “However at this stage, it is best to have the ability to Google them.”

Fortunately, arranging viewings in an empty property is comparatively easy. The condominium’s solely occupant is a housekeeper, who retains the vacant house spotless. Earlier than a viewing, the beds are made and the desk laid, prepared for a meal that can by no means happen. The lights are turned on, the terrace furnishings uncovered and the parasols erected. “It’s all the time like a present house, as a result of it’s not getting used,” says Marks.

However regardless of the condominium’s immaculate look and new interiors, a purchaser is prone to rip every part out and refurbish it from scratch. “At this stage, folks normally aren’t prepared to compromise,” says Marks. “They’ll have their very own way of life or their very own type, and so they’ll undoubtedly need to put that onto the property.”

In addition to the penthouse, this sequence of Britain’s Most Costly Homes includes a 20-acre nation property in Norfolk, a Scottish baronial fort and a £20 million mansion on The Bishops Avenue with a nightclub-style occasion room. However for Marks, whose itemizing is price nearly 3 times as a lot as all three of those properties put collectively, the seek for a purchaser continues. It might take days; it might take months. In some circumstances, like Highgate’s Heathfield Home, which featured on the programme in 2021 and stays unsold, even after an £8 million worth lower, it might take years.

“It’s like asking: how lengthy is a chunk of string?” says Marks. He’s inspired by a few of the viewings he has had and says the second principal to view the property got here shut to purchasing, earlier than deciding to not proceed. “A purchaser might name me right this moment or tomorrow,” he says. “I believe that’s what’s thrilling about this job: the most important deal you’ve ever achieved might be right this moment. It might be tomorrow.”

Britain’s Most Costly Homes is on Channel 4 on Might 21 at 9pm