Check out this article I found! You all know how pricey London real estate is and we’ve learned that from the many insane purchases made by filthy rich billionaires in the past. (ex -Lakshmi Mittal) Well, a London property developer wants to convert 7 office buildings into a 50,000 square foot mega home. This would make it the 2nd largest residential home behind the well known Buckingham Palace. The developer hopes to sell the stucco mega home for 100,00,000 British pounds (or around $156 million).
HERE IS THE ARTICLE:
The 50,000 square foot Regency terrace, which currently houses a row of seven office buildings, will be converted into a 10 bedroom stuccoed mansion.
Marcus Cooper, the north London property developer, has won planning permission to redevelop the buildings, designed by the Regency architect John Nash, when Cancer Research, the current occupiers, move to new offices in April.
The developer bought the buildings at 6-10 Cambridge Terrace and 1-2 Chester Gate for £23.7m in 2007, but hopes to sell the completed “super-prime” residence for £100m.
The plans include 10 huge bedroom suites, several vast reception rooms and a basement leisure complex including a cinema, gym and swimming pool.
A 40-ft roof garden, complete with a sliding ceiling and overlooking Regent’s Park, will be built into the eaves, and the development will come with two additional staff houses.
The “mega-mansion”, which will be sold to a single owner, will claim the title of London’s biggest residence after Buckingham Palace – an accolade currently held by Witanhurst House in Highgate.
Marcus Cooper made millions of pounds two years ago from the redevelopment of Witanhurst House, which he bought for £32 million in 2007 and sold the following year for more than £50 million.
If sold for more than £100 million, the Regent’s Park development would also claim the title of London’s most expensive home.
The official record was set in February 2008 when a buyer paid £80 million for a detached house in Kensington’s Upper Phillimore Gardens.
Camden Council approved Mr Cooper’s plans on the condition that affordable housing is built on another site.
