Primrose Hill penthouse breaks record for most expensive property in area
16:00 21 October 2014
A penthouse flat in a Primrose Hill development has broken the area’s record for the highest price based on surface area.
The new build apartment has an asking price of more than £4,400 per square foot, around four times the average for the location.
The property is in the St Edmund’s Terrace development, a luxury complex by developer CIT featuring 36 flats and a separate two bedroom townhouse, all overlooking Primrose Hill.
Tim Gledstone from Squire and Partners, the architects working on the project, said: “St Edmunds terrace is a set of three contemporary parkland buildings, crafted from Portland stone and bronze and set within a series of landscaped gardens.
“The modern design draws its inspiration from the elegant detailing and rigour of the existing Regency buildings and villas surrounding Regents Park, while embracing this exceptional location where the wonder of nature meets the city of London.”
Contemporary building is rare in the area and this is the first new build development to be built directly overlooking the park in many years, which is the main reason for the record-breaking price of the penthouses.
Luxury building materials such as a bronze tile cladding with an ivy leaf pattern and projecting windows and balconies giving unrivalled views of the park and the London skyline beyond also help.
A 20 metre swimming pool, gym, 24 hour concierge and green roof are additional benefits for residents.
With a surface area of 3,600 square foot, the asking price for the penthouse apartment is in the region of £15,840,000, while prices in the block start at £3.8 million for a two-bedroom flat.
The most expensive London home by surface area – a penthouse overlooking Buckingham Palace – is reported to have sold off plan this year for significantly more than the previous record of £5,000 per square foot.
The development is scheduled for completion in Easter 2015.