Landmark riverside scheme Chelsea Waterfront, masterplanned by late starchitect Sir Terry Farrell on the site of the decommissioned Lots Road Power Station, is full of prestige properties.
Back in 2018 then-Chelsea owner Roman Abramovich is understood to have paid £30 million for a 6,000sq ft penthouse in an early phase of the scheme.
Abramovich, whose worth is estimated to be around $9.2 billion [£7 billion] by Forbes, was placed under sanction by the UK Government in March 2022 after ministers accused him of having connections to Russian President Vladimir Putin. In an unsuccessful legal challenge against EU sanctions in September this year, Abramovich argued the asset freeze and travel ban were unfair and denied links to the Kremlin.
Due to the ongoing sanctions here, Abramovich is unable to visit any of the homes in his extensive UK property portfolio — understood to have been worth more than £250 million in 2022.
Now, for significantly less than Abramovich's penthouse is thought to have cost, a new triplex penthouse at Chelsea Waterfront’s Tower East is for sale with a price tag of £21.5 million but, currently, no internal walls to speak of.
The idea is that the new owner has the opportunity to completely customise the 7,000sq ft space, as well as 400sq ft of private terraces, with their cinematic views of the River Thames, The London Eye and the Shard.
They can choose the number, position and outlook of bedrooms and bathrooms, whether there’s a grand dining room, state-of-the-art gym, staff kitchen or cinema room – anything at all – but they will have to design and pay for it themselves.
The penthouse is available in shell condition, although standout features such as the triple-height ceilings, floor-to-ceiling glass and private internal lift across the three floors are already in place.
“In the ultra-prime market, buyers are increasingly seeking homes that are custom-ready, giving them the freedom to redefine what a residence can be,” says Dr Edmond Ho, director of Hutchison Property Group (UK) Limited.
“This rare triplex penthouse offers the scale and flexibility to go far beyond simply choosing the number of bedrooms and bathrooms — it can mean creating a private art gallery, installing a climbing wall, or spaces for corporate entertaining.
“True luxury today is about personalisation and having the freedom to be imaginative, and this home fully embodies that principle.”
While super-prime buyers are used to having a say when it comes to bespoke interiors, it’s rare for such an enormous space, in an iconic location, to go on sale as a blank canvas that they can totally mould to their own lifestyle and taste.
“Tower East’s value lies not only in the scale of space, but also in its unrivalled position on the Thames in Chelsea, its panoramic views of London’s iconic skyline, and its direct access to the Waterfront Club.
“This is not just a home — it’s a canvas for the extraordinary. Opportunities like this are almost impossible to find in London and may not come around again,” adds Ho.
The entire 25-storey Tower East complex has been designed by Sir Terry Farrell and is a companion to the neighbouring Tower West on the other side of the Chelsea Canal.
Both draw their inspiration from Lynn Chadwick’s celebrated Dance X sculpture, with its fluid, angular silhouettes that seem to move in unison from every angle.
Tower East is the final high-rise development on the riverfront and, as well as being home to this multi-million-pound triplex, also boasts 41 ultra-prime residences of mostly four-, five- and six-bedroom apartments.
While the triplex penthouse is sold to be designed from scratch, the other residences in Tower East feature top-of-the-range interiors already in place.
Kitchens have Gaggenau appliances, Carrera marble, customised carpentry and hardwood flooring.
Elsewhere there is underfloor heating and a fully integrated home automation system, which uses smart technology to control everything from the lights to devices.
Interiors are contemporary and make the most of the breathtaking views of a mile-long stretch of the Thames.
Tower East residents also get access to a concierge, 24-hour security and the Waterfront Club, with its private wellness sanctuary, 20-metre pool overlooking the river, steam room, sauna, Jacuzzi and Technogym equipment.
There’s also a Residents’ Lounge for socialising, working and relaxing, while outside you’ll find beautifully landscaped gardens and water features
“Exclusive river views, regeneration and cultural vibrancy are proving major draws for younger affluent, tech-savvy buyers, particularly millennials and Gen Z,” says Jeremy James, director in the London Residential Development team at Savills.
“These transformational areas are likely to capture the demand from this cohort that value neighbourhood character and Instagram-able opportunities as much as traditional prestige locations.”
Prices at Tower East start from £1.4 million for one-bedroom apartment. Four-bedroom homes cost from £4.4 million.
