A look inside London’s $500M Carlton House Terrace

TRD New York /
Oct.October 13, 2013 04:00 PM

While NYC is just getting used to increasingly commonplace $100 million listings, global demand for London property has long pushed asks four or five times that. But even for posh London, the billionaire Hinduja brothers’ $500 million mansion at Carlton House Terrace is something special. 

At the center of Westminster near Buckingham Palace, the 67,000-square-foot, 25-bedroom estate consists of four interconnected six-story white Georgian houses and was the 18th-century boyhood home (since demolished and rebuilt) of King George IV, who considered it for his palace before settling on Buckingham.

The houses were also occupied by infamous Victorian prime minister William Gladstone, before being transformed into offices by the British Red Cross, the National Portrait Gallery, and for a short time a casino.

Together the secretive owners, Srichand, Gopichand, Prakash and Ashok Hinduja, control the Hinduja Group, a multinational conglomerate with interests in real estate, oil, automobiles, banking and media. In 2006, they purchased the houses from the Crown Estate, which manages the royal property portfolio, for a mere $95 million. Almost immediately they poured another $95 million into renovations that attempted to “return the house to its former glory,” Sandie Altman, Weldon Walshe’s managing director, which handled the renovation, told Forbes.

The brothers also own a four-floor, 25,000-square-foot Townhouse Across The Street From Carlton House Terrace, whose 50,000-square-foot neighbor at number 18 has hit the market asking $400 million. Based on the skyrocketing values in the neighborhood, Eliza Leigh, property partner at Knight Frank in London, values Carlton House Terrace at more than $500 million – not bad for a $190 million investment. [Forbes]Christopher Cameron


Related Articles

arrow_forward_ios
From left: 60 Sloane Avenue, Domenico Giani, former head of security of The Vatican, and Vatican City (Credit: Wikipedia and iStock)

Real estate scandal rocks the Vatican

From left: London, Shanghai and Paris

In London, WeWork already reaping rewards of planned Brexit: Global property

From left: London, Shanghai and Paris

The TRD weekly global digest

London’s office market has proven to be surprisingly resilient (Credit: iStock)

Brexit is no longer slowing down London office developers

Outfoxed a decade ago by Gary Barnett, Marty Burger pays $10M for Carlton House pad

Outfoxed a decade ago by Gary Barnett, Marty Burger pays $10M for Carlton House pad

The Brexit effect in Amsterdam: High home prices and ultra-competitive bidding wars

The Brexit effect in Amsterdam: High home prices and ultra-competitive bidding wars

Simon Reuben, David Reuben and London (Credit: Wikimedia Commons, iStock)

The Reuben brothers have paid about $117M for a London office building

Wealthy investors to face stricter rules to obtain a “golden visa” in the U.K.

Wealthy investors to face stricter rules to obtain a “golden visa” in the U.K.

arrow_forward_ios