A Czech tycoon has taken a £55 million punt on London’s luxury homes market, buying a portfolio of flats on the capital’s “Billionaires’ Row”, the Evening Standard can reveal.
European developer CPI Property Group, majority-owned by real estate mogul Radovan Vítek, has teamed up with London-based private investor Dean Main to buy 11 apartments on The Bishops Avenue, industry sources said.
Vitek is worth $3.5 billion according to business magazine Forbes.
The flats are at a scheme called Buxmead on the Hampstead Heath end of the street.
The new owners want to rent out the homes — mainly three bedrooms — for between £5000 and £10,000 per week. Tenants would have access to a private gym, bar, swimming pool and cinema.
Agent Savills, which declined to comment, sold them on behalf of property developer Harrison Varma.
Mark Pollack, a director at Aston Chase — selling Kenmore House for £15 million on The Bishops Avenue — said: “We have seen a flurry of activity from buyers who want to get deals over the line before we leave the EU.”
Glentree’s Trevor Abrahmsohn said: “Some international buyers are starting to think it might be best to get in now before the pound rises and therefore properties become more expensive when a Brexit deal is agreed.”
Meanwhile at Avenue Road in St John’s Wood, 12 mansions worth £500 million are under construction or have recently been completed.
