A report from estate agents Knight Frank and Aston Chase shows the arrival of celebrity buyers in Regent’s Park has pushed up house prices in the area by nearly 10% over the past two years.
Comedian Sasha Baron-Cohen, artist Damien Hirst as well as fashion royalty Tom Ford all enjoy residences in the neighbourhood. Genuine royalty in the form of Her Highness Sheikha Mozah bint Nasser, the Queen Mother of Qatar, also mingle with the locals after the Qatari’s purchased a Regent’s Park property in 2013.
Property tycoons are also getting in on the act. In 2013, real estate mogul Marcus Cooper bought One Cornwall Terrace for £80 million, the most expensive property in the UK at the time. Fellow billionaire property magnate Christian Candy also owns a £200 million mansion nearby and recently failed in a planning application to extend his garden.
“Regent’s Park is one of the best residential addresses in Central London and the area of choice for discerning British families alongside buyers from the Middle East and Asia” said Mark Pollack, Director at Aston Chase.
The area continues to generate interest. In October, Amazon Property will launch ‘The Park Crescent’, a new development providing 20 ultra-prime residences, with prices starting from £3.95 million for a two bedroom apartment.
With sustained high-end international demand in addition to the relatively cheap sterling, DMZ sees Regent’s Park upward trend continuing. The nearby Chiltern Firehouse and renovated Marylebone Village illustrate the rise and rise of an area many view as the place for London’s movers and shakers.
If any DMZ’ers want in on the action, Iron ore tycoon Pramod Agarwal recently listed his trophy home on Cornwall Terrace for £32 million!