Thought the price of property in London was high?
How about a flat – albeit a six-bedroom one – for a stratospheric £60million?
Form an orderly queue please, for the trophy penthouse at Park Modern in Hyde Park W2, the latest super-prime development in the capital.
New to the market, a price tag this high puts it out of reach, even for Lottery winners.
If you’d scooped last week’s Euromillions jackpot of £26million and used that as your down payment, you’d need a mortgage for the outstanding £34million.
Taken over 25 years, that’s about £150,000 a month… assuming you can find a mortgage lender. You’ll definitely want a specialist broker. You will also need to be able to fund the £98,000-a-year service charge, not to mention the bill for cleaning all those windows.
Imagine for a moment you are one of the very few people in a position to call this home.
Once you get past all those zeros, what do you get for your money?
Well, for a start, it’s huge. More lateral palace than flat, it offers 7,000sq ft of living space.
To put that in context, an average four-bedroom detached home in the UK is 1,582sq ft.
The living room has soaring, three metre-high ceilings – we’re guessing heating bills won’t be a consideration for the new owner – and there’s 2,400sq ft of outdoor terracing, with sweeping views of London including Hyde Park, the Shard and the City of London.
Designed by Lee Polisano of PLP Architecture, the wave-like facade is intended to maximise the views over the green sea of trees in Hyde Park and Kensington Palace Gardens.
The apartment is the jewel in the crown of Park Modern, a Fenton Whelan development.
Currently under construction, the scheme will comprise 57 homes ranging in size from one to six bedrooms and priced from £2million to the £60million home featured here.
Five-star facilities are, of course, on tap.
There’s concierge, a residents’ lounge and library, a large restaurant and café, plus a whole floor dedicated to your wellbeing, with a glass-walled gym and adjoining spa, as well as a 25-metre swimming pool, a salon, a sauna and a treatment room.
Not forgetting the 16-sofa seat cinema.
The main bedroom of the penthouse has two bathrooms and two walk-in dressing rooms.
What’s more, you can keep ‘the help’ on hand in the staff studio.
Get in with your offer now, and the developer will work with you to custom-design your home. There’s certainly space to install your own fitness studio or gym, for instance. As for all that outside space – an infinity pool on the terrace? No problem. With a cocktail bar? Absolutely.
But after such a bumpy year for the super-prime market, are developers sure there will be any takers? Apparently so.
‘The prime central London housing market has roared back to life,’ says James Van Den Heule, Fenton Whelan’s co-founder. ‘At Park Modern we have already sold £110million worth of apartments.’
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