An anonymous Hong Kong multi-millionaire has purchased the £10.75
million penthouse at the Corinthia Hotel London.
The property comprises a
3,700 sq ft four bedroom top floor lateral residence at the hotel. It
comes complete with 24/7 five star hotel room service and direct internal
access to the spa, restaurants, cocktail bars and lounges of the
adjoining Corinthia Hotel .
Agents Aston Chase report that the deal was agreed in under 72 hours once the buyers found that the penthouse was available, and is the biggest deal in Whitehall in the last five years.
Simon Deen, Director & Partner at Aston Chase says: “The Corinthia Hotel Private Residences purchase is the biggest deal in Whitehall in the last five years. Despite its prime location in the heart of London’s government district, by No.10 Downing Street, residential properties in Whitehall are more price competitive than neighbouring Mayfair, St James’s and Belgravia. The deal equates to a price of just under £3,000 per sq ft, compared to other high end developments in Mayfair the couple looked at which were priced at around £7,000 per sq ft.”
It is in some ways odd to suggest that Whitehall is an up and coming area where bargains are to be had but, in high end London terms, in some ways it is. It will be interesting to see if this transaction encourages other buyers to buy in the area going forward.