London Penthouse Sells for £10.75 Million
During a home-scouting trip to London earlier this month, a couple of buyers from Hong Kong looked at 20 developments— spanning neighborhoods from Regents Park to Chelsea. Their first viewing of the four-story penthouse at the Private Residences at the Corinthia Hotel in Whitehall was on a Monday; their second viewing was on a Saturday. The £10.75 million (US$13.41 million) sale was agreed on by the following Wednesday.
The decision would usually take three to four weeks, said Simon Deen, director and partner at Aston Chase, who represented the buyer. Mansion Global could not determine the identity of the buyer, but Aston Chase confirmed that they were from Hong Kong. The sale closed the first week of September.
Visitors enter the four-bedroom, four-bathroom penthouse via either a private or public elevator lobby and are greeted by a gilded entrance hall with hand painted and embroidered silk wall panels, according to the news release.
The rest of the 3,703-square-foot penthouse is composed of a sitting room with a stone fireplace, a media room/study and an eat-in kitchen. The master bedroom features a walk-in closet and an en-suite marble-clad bathroom. The apartment’s lighting, heating and window blinds systems can also be controlled remotely or set to timers, according to the release.
Mr. Deen said that the buyers visit London only two or three times per year and were looking for something move-in ready, furnished and centrally located. The penthouse is fully serviced by the hotel, including white glove room service, a direct line to the concierge, a dedicated service entrance and private elevator access to the spa.
Alex Lawrie, press officer for Aston Chase, said that the penthouse could also be leased back to the hotel and rented out to guests as an income-generating investment.
Mr. Deen said this is one of two high-end deals involving Hong Kong buyers with which he is currently involved. The combination of the Brexit drama dampening the London market and the political uncertainty in Hong Kong has encouraged interest from Hong Kong buyers, he said.
“He’s done quite a canny buy,” Mr. Lawrie said of the buyer. Whitehall is an area that is changing, with lots of old government buildings turning into hotels, residential and commercial buildings, he said.