Luxury property developer sells eight flats for £60 MILLION – mainly to posh Brits looking for a SMALLER home
A LUXURY property developer has heralded the "super-downsizer" after selling eight flats for £60 MILLION - mainly to Brits looking for a smaller home.
The Park Crescent is a Grade I Listed building originally designed by 18th century architect John Nash and overlooks Regent's Park in London.
It has just been transformed from tired offices into a state-of-the-art residential development - at a time the high-end property market struggles due to high taxes and an uncertain economy.
But despite the downbeat market, Amazon Property yesterday revealed it had sold its entire first phase of eight lateral apartments - at record prices.
The developer said six of the flats have been bought by British families downsizing from large homes in London with the remaining two apartments sold to buyers were from the Middle East.
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Prices ranged between £4 million and £18 million with the top apartments selling for a record-breaking £3,500 per sq/ft. They have been sold by Knight Frank and Aston Chase.
Amazon Property said the downsizers have been selling homes worth from £5 million to £25 million to move to The Park Crescent, where ceilings are up to 12-foot high.
On top of having Regent's Park on its doorstep The Park Crescent also has eight acres of private gardens.
Charles Gourgey, CEO at Amazon Property, said: "In our view this is the most exceptional, unique and exciting property launch in London this year.
"The Park Crescent, London's only Royal crescent, forms a beautifully designed, intimate scheme providing exclusive unique homes alongside eight acres of private gardens.
"Each residence has its own features, is dressed by a different interior designer, located within a managed and concierged 5-star estate."
Amazon Property recently held a VIP launch party attended by 700 guests including three billionaires, 20 'nine-figure' multi-millionaires, three Princes, two Princesses, five Sheikhs and two Sheikhas.
The developer has just unveiled eight previously unseen apartments for phase two, with phase three unveiled in two years.
Chris Lanitis, director at Amazon Property added: "For our phase two release we anticipate significant interest from British families relocating from North West London, and buyers from Continental Europe and the Middle East.
"Affluent North London based downsizers and buyers from the Middle East drove our phase one sales.
"With the repositioning of Pound Sterling against the Dollar, we anticipate that our phase two release will continue to be driven by domestic downsizers, but could also see a rise in interest from Dollar linked overseas buyers from the Middle East and Asia."