$185.5M London penthouse is UK’s second-priciest sale this year

Penthouse sells at 1 Grosvenor Square

National Weekend Edition /
Nov.November 14, 2020 09:00 AM
No. 1 Grosvenor Square (Lodha Luxury)

No. 1 Grosvenor Square (Lodha Luxury)

A palatial penthouse at a storied address in London’s Mayfair neighborhood has sold for £140 million (or $185.5 million), making it the second-priciest deal of the year in the U.K.

Lodha U.K., the developer behind the luxury residential project 1 Grosvenor Square, announced that the deal was finalized “very recently,” Mansion Global reported.

Lodha would not elaborate on details of the deal, nor the identity of the buyer. There are reports that the buyer also bought two other units with plans to combine all three.

The developer is set to complete the 44-unit property next month.

The deal was eclipsed this year by Cheung Chung-kiu’s £200 million (or about $262.6 million) purchase of a 45-room mansion in Knightsbridge in January. That deal was the most expensive ever recorded in either the U.K. or the U.S.

That 84-year-old building at 1 Grosvenor Square served as the U.S. Embassy in London from 1938 through 1960, when the mission moved to another building nearby. The Canadian government purchased the property, and ended up selling it to Lodha in 2013.

The developer demolished most of the building, but kept its facade to install onto the new residential project. [Mansion Global] — Dennis Lynch 


Related Articles

arrow_forward_ios
Homebuilding is largely responsible for the increase in construction spending. (Getty / Photo Illustration for The Real Deal)
Construction spending hits new record in January
Construction spending hits new record in January
(iStock/Illustration by Kevin Rebong for The Real Deal)
These are real estate executives’ worst worries for 2021
These are real estate executives’ worst worries for 2021
Bryan Cranston and his California beach house (Getty, Realtor)
“Breaking” news: Bryan Cranston lists eco-friendly SoCal beach pad
“Breaking” news: Bryan Cranston lists eco-friendly SoCal beach pad
RE/MAX CEO Adam Contos (Facebook)
RE/MAX revenue ticks up in Q4 but profit sinks
RE/MAX revenue ticks up in Q4 but profit sinks
Zillow COO Jeremy Wacksman (Zillow, iStock)
Zillow using Zestimate to streamline cash offers for some homes
Zillow using Zestimate to streamline cash offers for some homes
Home sales were the busiest January on record, but still the fifth month of decline in a row. (iStock)
Pending home sales fall for fifth consecutive month
Pending home sales fall for fifth consecutive month
Douglas Elliman chairman Howard Lorber (Getty)
Douglas Elliman reports $14M profit, 50% revenue jump in quarter
Douglas Elliman reports $14M profit, 50% revenue jump in quarter
Glenn Kelman (Randy Stewart via Flickr)
Redfin revenue grows as it races to hire more agents
Redfin revenue grows as it races to hire more agents
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...