{"id":12477,"date":"2024-09-20T11:09:44","date_gmt":"2024-09-20T11:09:44","guid":{"rendered":"https:\/\/www.black-brick.com\/?post_type=guide&p=12477"},"modified":"2024-11-27T10:49:54","modified_gmt":"2024-11-27T10:49:54","slug":"life-at-the-top-your-guide-to-luxury-penthouses-in-london","status":"publish","type":"guide","link":"https:\/\/www.black-brick.com\/property-guides\/life-at-the-top-your-guide-to-luxury-penthouses-in-london\/","title":{"rendered":"Life at the Top – Your Guide to Luxury Penthouses in London"},"content":{"rendered":"

They are, in property terms, the ultimate status symbol: rare, beautiful, and very, very expensive.<\/strong><\/p>\n

If you want an apartment which sits at the very top of prime central London\u2019s housing market then you are going to want a penthouse.<\/strong><\/p>\n

The birth of penthouse living<\/h3>\n

The concept of penthouse living was born in 1920s New York. The Jazz Age was in full swing, the Manhattan skyline was starting to take shape, and developers began creating premium top floor homes in the sky to cater to high rolling buyers. <\/span>The owners of those early penthouse apartments must have believed they were living a life of unparalleled luxury. A century on, the standard of penthouses on sale in the British capital would astound them.<\/span><\/p>\n

What makes a true London penthouse?<\/h3>\n

\u201cA penthouse is more than just being on the top floor,\u201d said Camilla Dell. \u201cA true penthouse needs to have direct lift access. Views are important<\/a>, you want to have the most incredible views over London or views of an iconic London landmark.\u00a0<\/span><\/p>\n

\u201cYou need usable outside space as well, so you can go outside to enjoy the views. And you want a sense of space and volume.\u201d<\/span><\/p>\n

Prime London penthouses on the market<\/h3>\n

This year\u2019s crop of prime central London penthouses include the Penthouse at Clarges Mayfair. This circa 8,000 sq ft property spread over three floors has six bedrooms, two terraces, and views over Green Park, and is listed for \u00a3100m.<\/span><\/p>\n

Alternatively there is a brand new eight (ensuite) bedroom penthouse at Park Modern, with a 2,400 sq ft wraparound terrace overlooking Hyde Park. Price tag? \u00a360m.<\/span><\/p>\n

Or, a few minutes\u2019 walk away, is The Whiteley. This property, with services provided by an on-site Six Senses hotel,\u00a0 is smaller, with five bedrooms, but its landscaped terrace measures 4,462 sq ft. It is on sale for \u00a340m.<\/span><\/p>\n

The penthouse premium<\/h3>\n

The rarity value of penthouses means they are, naturally, more expensive than apartments lower down a building. According to recent research by Knight Frank the exclusivity and privacy of penthouse living carries a London premium of 43 per cent. \u201cIn reality the premium varies between buildings, and can be a lot more than that,\u201d said Dell. \u201cWe are in the process of buying a penthouse in St John\u2019s Wood which overlooks Lord\u2019s cricket ground. We are paying \u00a33,300 per square foot but lower down the building you can buy a flat for \u00a31.300 per square foot.\u201d<\/span><\/p>\n

At One Hyde Park, in Knightsbridge<\/a>, prices rise as you go up the building. Two apartments, both sold in 2017, sold for \u00a37,369 and \u00a34,152 per square foot respectively. The key difference between them was that one was on the fourth floor, the other on the ground and first. And when property mogul Nick Candy listed his One Hyde Park penthouse in 2021 he asked \u00a3175m for the duplex property, which works out at \u00a39,722 per square foot.<\/span><\/p>\n

What is the sub-penthouse trend?<\/h3>\n

There are a few pitfalls to avoid when penthouse shopping. In recent years some smart developers have started selling what they describe as sub-penthouses \u2013 apartments directly below penthouse level \u2013 at elevated prices.<\/span><\/p>\n

For Dell, however, there is really no such thing as a sub-penthouse. It is top floor or nothing.<\/span><\/p>\n

\u201cIt is a nice marketing tool, and it does mean you are higher up the building so you should still have the views, but beyond that it doesn\u2019t mean much,\u201d she said.<\/span><\/p>\n

Negotiating a price<\/h3>\n

Where a buying agent really comes into play when it comes to penthouse buying<\/a> is in the negotiations<\/a>. The headline price is one thing, but developers may be willing to make a deal.<\/span><\/p>\n

Black Brick recently helped a Hong Kong client by a 2,050 sq ft duplex penthouse in Pont Street, Knightsbridge. After some delicate negotiation we shaved \u00a3200,000 off the original \u00a34.5m asking price: <\/span>https:\/\/www.black-brick.com\/expertise\/case-studies\/pont-street\/<\/span><\/a>\u00a0<\/span><\/p>\n

A buying agent<\/a> also has essential insider information. \u201cWe are familiar with a developers\u2019 track record, which is very important,\u201d said Tom Kain, a partner at Black Brick. \u201cAnd there have been times when we have been able to negotiate not only discounts but also for a developer to make changes to an apartment to suit our buyers\u2019 requirements or even to agree to include the first year or two\u2019s service charge into the price.\u201d<\/span><\/p>\n

Investment appeal for famous buyers<\/h3>\n

Given their seven and eight figure price tags penthouse buyers will want to know that they are making a solid investment<\/a> as well as a lifestyle choice. \u201cThey do hold value as long as the building is well run,\u201d said Dell.\u00a0<\/span><\/p>\n

\u201cThey are rare by their very nature and there will always be someone who wants the best of the best.\u201d<\/span><\/p>\n

In recent years buyers who have put their faith in penthouses include Ken Griffin, the hedge fund billionaire, who reportedly spent \u00a3100 million on a penthouse at The Peninsula London, a newly built development almost next door to Buckingham Palace.\u00a0<\/span><\/p>\n

Meanwhile another international<\/a> billionaire, Russian dating app mogul Andrey Adreev, is thought to have spent \u00a3145m on the penthouse and two adjacent properties at 20, Grosvenor Square in Mayfair<\/a>, in 2020.\u00a0<\/span><\/p>\n

\u201cBuyers are people who appreciate and want a really luxurious lifestyle,\u201d said Dell. \u201cA penthouse is prestigious and it is just a sign that you have really made it to own one.\u201d<\/span><\/p>\n

If you’d like to learn more about buying a luxury penthouse in London, or to talk to our buying agents about any other aspect of buying prime property in London, contact Black Brick today.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

They are, in property terms, the ultimate status symbol: rare, beautiful, and very, very expensive.<\/p>\n","protected":false},"featured_media":12478,"template":"","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","inline_featured_image":false,"ghostkit_customizer_options":"","ghostkit_custom_css":"","ghostkit_custom_js_head":"","ghostkit_custom_js_foot":"","ghostkit_typography":""},"topic":[],"hub":[253,255],"class_list":["post-12477","guide","type-guide","status-publish","has-post-thumbnail","hentry","hub-buyers-guides","hub-all"],"acf":[],"yoast_head":"\nLife at the Top - Your Guide to Luxury Penthouses in London<\/title>\n<meta name=\"description\" content=\"If you want an apartment which sits at the very top of Prime Central London\u2019s housing market, then you are going to want a penthouse.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.black-brick.com\/en-ae\/property-guides\/life-at-the-top-your-guide-to-luxury-penthouses-in-london\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Life at the Top - 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