London's luxe real estate scene is booming. Let's take a look at the incredible newcomers and see why they're the talk of the town.
The Audley Square entrance of Robert A. M. Stern’s 1 Mayfair., the reported $2.5 billion project certainly rivals the Peninsula in ambition, with just 29 residences, clad—like Stern’s best-known New York City projects—in a facade of creamy limestone; in London’s case, stone quarried from the Isle of Portland in Dorset.
Other enviably located London newcomers include the OWO on Whitehall, which, when completed early this year, will offer 85 of the. And then there’s 8 Eaton Lane, another new Belgravia development with 42 residences set in a Grade-II listed, Second Empire–inspired building dating back to 1863. Just over a century ago, the site was converted into the Belgravia Hotel before being transformed into office space and now a series of one- to five-bedroom homes with remaining units priced from $4.
is a collection of 12 single-family homes with private gardens, each averaging 5,750 square feet with prices starting at roughly $26 million. These prices may be among the highest per square foot of any city in the world. But analysts such as Bailey say London’s top end can support them, insulated from economic uncertainty by a buyer pool operating well beyond conventional financing restrictions.
While Kwok remains mum as to whether Peninsula is developing additional branded residences, the high prices secured by the firm’s London debut suggest the company’s presence in the prime-property arena could continue. “We only have 10 Peninsulas around the world, and unlike most companies, we own all or at least a large part of everything we do,” says Kwok, detailing why the Peninsula portfolio remains so modest—and slow to expand. “We still believe in the power of being owner-operators.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Georgia police smash window of burning home, crawl inside to rescue elderly woman trapped insideOfficers with the Conyers Police Department in Georgia responded to a house fire over the weekend and rescued an elderly woman trapped inside, authorities said.
Read more »
Disney's Haunted Mansion Release Date Moved UpWhenever a highly anticipated movie has its release date changed, audiences immediately get [...]
Read more »
Watch: Ferrari LaFerrari’s Bold New Supercar Successor Will Have a Giant Rear WingThere's a lot of hype around the Ferrari LaFerrari successor. And Ferrari fans–there's footage of the next-generation vehicle undergoing testing on public streets.
Read more »
Good Samaritan helps grandmother chase her stolen SUV with her grandchild insideA grandmother got the shock of her life when a man took off in her vehicle with her grandchild still inside.
Read more »
Good Samaritan helps grandmother chase her stolen SUV with her grandchild insideA Good Samaritan helped a grandmother rescue her grandchild after a man took off with her SUV and the baby still inside.
Read more »