Saturday 3 September 2022 08:19 PM Regent's Park home designed by Buckingham Palace architect sells for £130m, ... trends now
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A desirable London mansion overlooking iconic Regent's Park has had £50million shaved off its asking price of £180m, signalling that even the top end of the capital's housing market is feeling the impact of economic downturn.
Indian businessman Ajay Kalsi is said to have snapped up the Grade-1 listed 1-18 York Terrace East - which has permission to be turned into 26 flats and two houses - for just under £130m.
The lowered price signals that London is feeling the pinch of rising inflation, interest rates and fewer wealthy Russian investors, who have largely left the UK since Vladimir Putin invaded Ukraine.
Designed by Buckingham Palace architect Josh Nash and spanning 95,000 square feet, the row of houses originally came with a much higher price tag, but the sale is said to be 'an immense relief' for property firm Zenprop, which bought the building in 2016, reports Financial Times.
Desirable Grade-1 listed 1-18 York Terrace East in London has sold with £50million shaved off its asking price of £180million
Zenprop originally intended to develop and flip the property for a profit, but this plan was scuppered by Brexit,
