£10,000,000+ For A 3-Bed Flat?
I often get asked “If you had the funds, would you buy a 3-bed flat in London for £10,000,000+?”
If it was the kind of lifestyle that I was after, then without a doubt, yes!
Some 3-bed flats in London are truly stunning…
3-Bed flats in Mayfair’s Grosvenor Square, as an example, are likely to come onto the market in 2020 with a price per sq ft of £5,000+.
A 3-bed flat like this would typically have a 24 hour porter, bespoke finishes, interior design from the best experts in the world and access to exquisite communal spaces.
Belgravia’s Eaton Square and Knightsbridge’s Cadogan Square have historically commanded premium prices (in London terms) and are incredibly high on many buyer’s wish lists.
They are in superb locations for shopping, restaurants, bars, transport as well as a host of other local amenities.
3-bed flats, and 3-bed lateral flats especially, offer a totally different lifestyle to that of a 3-bed family house or a 3-bed townhouse.
It allows families to live in the heart of London and to live all on one level or two levels, much like a 5 star suite in one of London’s best hotels.
For some buyers, this is perfect.
For other buyers, they would like to have more privacy and a 3-bed home that they can truly call their own…
“Belgravia’s Eaton Square and Knightsbridge’s Cadogan Square have historically commanded premium prices.”
I truly think some of London’s 3-bed townhouses are incredible!
The same can be said for a select group of 3-bed flats in London…
Talk within the industry is that over the course of the next decade prices in prime areas of London will exceed £8,000/ sq ft, £9,000/ sq ft and even £10,000/ sq ft for new builds.
Of course a flat in One Hyde Park in Knightsbridge sold for more than £10,000/ sq ft, but that is not common place in London or indeed the world.
Prices per sq ft that hit this level in the future will be reserved for one of a kind and best in class flats with world-class amenities, in world-class locations, with either a world-class view or world-class private space.
It’s really important to go back and work out what your intended lifestyle is…
From that, will come the location that is best suited to you, the kind of 3-bed property (flat/ house) that works best for you, along with a host of other factors.
Take your time and work out exactly what you are after…
Would you live in a 3-bed flat or lateral flat in London?
If so, where would your favourite location be and why?