Sixteen Million Pounds for a basement apartment in London. If that sounds like a lot of money, that is because it is a lot of money. So much money in fact that the developers and agents selling the properties are targeting rich Russians as most-likely to be interested in buying these particular slices of the London luxury real estate pie.
Two basement apartments went on the market in London recently:
1A King Street, just off St James’s Square, is 3,500 square feet of prime period property complete with Swarovski light fittings, leather furniture and stone clad bathrooms big enough to get lost in. Although, if you do get lost in one, a waterproofed television comes as standard equipment. The developer, Manhattan Properties says this about the apartment:
Located in the very heart of the Piccadilly and St James’s district, this stunning residence, comprising some 3,500 sq ft, with it’s own street entrance, has been meticulously reconfigured and refurbished by Manhattan Properties, and combines a period elegance in a calm and contemporary style.
The apartment boasts an elegant drawing room with solid oak flooring, dining room with marble fireplace, kitchen/breakfast room with a fitted American-style fridge freezer, an open study/library with skylight, a spectacular master bedroom suite with floating bath and two further double bedroom suites. The property incorporates the highest contemporary specification, technology, fixtures and furnishings.
Accommodation comprises: Entrance hall, drawing room, Dining room, kitchen/breakfast room, cloakroom, library/study, master bedroom suite with dressing room and en suite luxury bathroom, guest bedroom suite with dressing room and large bathroom, bedroom three with shower room en-suite.
This gracious Grade II listed period building was converted into ten apartments in 1998. The area blends quality shops and galleries with the most fashionable and highly regarded restaurants and hotels in the capital, with London’s theatreland close at hand.
Leather adorns the bannister, bed-heads, door handles and inside the jewelery drawers in the walk-in wardrobes. Two entrances, one with a concierge, the other private. Sexy adequately describes the bathroom fittings.
Price - £9 million, plus a £35,000 per year service charge.
The other property is a 4,200 square foot flat in Hans Place just off Sloane Street within walking distance of Harrods. Correction - within a short chauffeur-driven limousine ride of Harrods. 
The flat was purchased last year and renovated by Turnkey Estates, a high-end London property developer. Although, renovated is a bit of an understatement.
Hand embroidered silk panels, hidden audio visual equipment, a hand crafted cocktail bar and £100,000 worth of art on the walls. But thirty-two million dollars (give or take) for a basement apartment? Insane? Apparently not - The real estate agent, Noel de Keyser of Savills told the Times:
We sold flats in Eaton Square and Chesham Place last year for £15-20 million, and we already have serious interest from some Russians.
So, a new record as the most expensive basement apartment in London soon perhaps?
Filed under Luxury Properties by Mark Knowles
