What Brexit? London mansion tries for nearly $200M

Admiralty Arch
Admiralty Arch (Image Credit : David Iliff)

A luxury apartment in London’s historic Admiralty Arch hit the market today with a price tag of £150 million ($196.6 million).

The 15,000-square-foot mansion comes with 12 bedrooms, 12 bathrooms, original fireplaces, antique fittings, plus private off-road valet parking, a private entrance and lift, a 24-hour concierge service and security, and lifetime membership to the private members’ club which will be set within the landmark. If that wasn’t impressive enough, its views span Buckingham Palace, St James’ Park and Trafalgar Square.

(Image Credit : www.admiraltyarch.co.uk)
(Image Credit : www.admiraltyarch.co.uk)

According to the London Evening Standard, Spanish developer Rafael Serrano bought a 250-year lease to the Grade I-listed building from the Government for a reported £60 million ($78.6 million) in 2012. If no buyer wants to part with that much cash, Serrano plans to split the space into separate units ranging from 1,700 square feet to 7,100 square feet.

Building work on the space is already underway, with buyers being asked to place a deposit now to move in within three years.

(Image Credit : www.admiraltyarch.co.uk)
(Image Credit : www.admiraltyarch.co.uk)

Along with the residence(s) and private members club, Serrano is turning most of the site into a 100 bedroom luxury hotel.

If the Admiralty Arch property sells for £150 million it will become London’s most expensive apartment, beating a penthouse at One Hyde Park that sold for £140 million ($183.5 million) in 2014. This side of the pond, the most expensive spread is 834 Fifth Avenue #78A, which is a comparable bargain at just $120 million. [London Evening Standard]