A Knightsbridge penthouse which was listed for £80 million last year — making it the most expensive property in the country to be publicly listed on Rightmove — has received a £10 million price cut.
The 9,400-square-foot apartment spans the 10th floor of the Knightsbridge Apartments, and features a 2,500 square-foot roof terrace with a 10-metre, glass-sided swimming pool, a sauna with a built-in TV and views over Big Ben, the London Eye, Harrods and Hyde Park.
The five-bedroom property appeared on Channel 4’s Britain’s Most Expensive Houses earlier this year, with Park Lord founder Joshua Marks keen to capitalise on the exposure: “We thought it would be good publicity,” he said at the time.
But despite interest from billionaires, the property was reduced by £10 million —an eighth of its asking price— on September 7.
“Improving the price by £10 million allows us to go back out to the market with some positive messaging,” says Marks.
“This penthouse at The Knightsbridge Apartments has attracted a lot of interest. It is still the highest value property in London on the open market. We’ve shown several ultra-high net worth individuals over the past few months but unfortunately have yet to find the buyer.”
The Knightsbridge penthouse is not the only super-home still looking for a buyer. The Whiteley’s £39.5 million penthouse, unveiled last summer, is still on the market, for example, alongside Nick Candy’s £175 million apartment at One Hyde Park.
LonRes’ July report found that price reductions in prime central London were “higher than usual for the time of year”, up by around 60 per cent on the previous year.
Likewise, Beauchamp Estates’ mid-year survey, published in August, found that the capital’s luxury lettings market had more than doubled in size during the first six months of the year, suggesting that the super-rich increasingly opt to rent, rather than buy.
“It’s an interesting time for London property, as while there has been a lot of bad press, there have been some significant deals that have happened at the very top of the market,” says Marks, who remains optimistic about the sale of the Knightsbridge penthouse.
“It will be showcased again on Channel 4 before the end of the year, which gets millions of views worldwide.
“We are planning a winter soirée there for VIP agents to make sure the top agents in London know about the offering and can be well informed when presenting the opportunity to their clients. Along with some good press and a bit of good fortune, I think this time round we will find the buyer.”
