£33.5m London Mansion Comes With £4m Cashback

The owner of a £33.5m mansion near Buckingham Palace is offering to pay the buyer’s stamp duty up to £4m, a report says.

The 11,500 sq ft mansion in Queen Anne’s Gate, in a location which the agent says is a few feet from Buckingham Palace, has a 40 ft ballroom with stunning views, a 60 ft family/TV room, six bedrooms and a private garden.

The selling agent has apparently revealed that the offer has “attracted the right people – £4 million is still £4 million, even among the very wealthy.”

Homes & Property comment: “The owner is a foreign national who lives in the UK and has two London homes.

“It is common for developers to cover the stamp duty on the sale of starter flats — but highly unusual for the same terms to be offered on such a property.”

Observers may wonder what if anything this says about the prime central London market at the moment. Two possibilities spring to mind: Either the owner is keen to sell and is concerned that a £4m stamp duty bill  is deterring affluent mansion buyers in a tough market …. or the property isn’t actually worth the asking price.

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Source Homes & Property
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