Prime Resi: Average Price of a PCL Penthouse
- By Adam Foster
- 08 December 2014
According to data from Russell Simpson mined from Lonres, apartments of the true penthouse variety now sell at an average price of £13.3m in prime central London.
What’s more, the agency tells us they’ve discovered that prices rise 1.5% per square foot on each storey of prime London properties, with a 2.2% rise at penthouse level.
The most expensive penthouse to sell to date, however, remains the extraordinary shell and core affair atop One Hyde Park, which went in May for a cool £140m. At the time, Candy & Candy confirmed the sale but declined to comment on the price or identity of the buyer. However, a spokesperson said that ‘global professional valuation companies have valued the finished penthouse at circa £160 million-£175 million.’
Alan Russell, Founder of Russell Simpson: “Penthouses are becoming the most sought after properties in London. Social hierarchy is built into the architecture of London property, with capital concentrating at the top. As property prices continue to grow across London, we’ll begin to see the highest values at the highest points.”