Kensington Palace Gardens Home For Sale
£100m mansion for sale on London's Billionaire's Row (but Saudi Prince owner wants transaction to remain a secret)
- Prince's detached, three-storey property is in Kensington, West London
- The average house price on Billionaire's Row' is a staggering £19.2million
- Other residents include the Sultan of Brunei, Britain's richest man Lakshmi Mittal and the founder of Foxtons estate agents, Jon Hunt
- Potential buyers have been requested to sign confidentially agreements
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It is an exclusive address that only a handful of people would be rich enough to be able to afford.
But that still hasn't stopped a Saudi prince swearing would-be buyers to secrecy if they decide to purchase the luxurious Kensington home in the heart of London.
Prince Abdul Aziz bin Fahd is attempting to sell one of Britain's priciest homes, which is located at the bottom of Kensington Palace Gardens - itself dubbed 'Billionaire's Row' as it is one of Britain's most expensive streets.
A home fit for a prince: Saudi prince Abdul Aziz bin Fahd was reported to be selling his luxury London mansion in Kensington Palace Gardens - known as Billionaire's Row - which is estimated to be worth £150million
Very few of these ambassadorial-type houses come onto the market and they attract global attention on the rare occasions they are made available.
Because of the expected international media interest, estate agent Knight Frank is understood to have approached potential buyers and asked them to sign confidentiality agreements, The Times reported.
Secret sale: Price Abdul Aziz bin Fahd was last year selling his home in Kensington Palace Gardens
The Prince's detached, three-storey property in Palace Green, is one of many luxurious homes that make up the exclusive area in West London.
In fact, the homes in Kensington Palace Gardens would be too pricey even for many celebrities, bankers and lottery winners.
A string of eye-watering property deals has helped to turn the tree-lined half a mile long avenue into Britain's most expensive street.
The average price of a mansion in the affluent road in Kensington, West London, is an astonishing £19.2million, according to a study by property company Zoopla.
That equates to around 93 times the national average house price of around £210, 000. Even a single square foot of land in the street would cost you £1,193.
It is estimated that the Saudi royal family owns at least ten of the properties on the street between them - with the mansion up for sale believed to be worth £150million alone.
Other residents are said to include the Sultan of Brunei, the steel magnate Lakshmi Mittal and the founder of Foxtons estate agents, Jon Hunt.
Both ends of the street are manned by armed Diplomatic Protection Group officers because it houses several embassies, including those of Israel and Russia.
The street's allure is helped by Kensington Palace, set back from the road on the eastern side, where the Duke and Duchess of Cambridge are currently staying with newborn Prince George.
Billionaire's row: The privately-guarded road by Hyde Park is one of the most exclusive streets in Britain
Living in luxury: Large mansions along Billionaire's Row - where the average house price is £19.2million - can be seen at the end of Kensington Palace Gardens in London
The Prince is not the only resident believed to currently be considering selling up their property in Kensington Palace Gardens.
It was reported in April that the Nepalese embassy plans to sell its property on the famous street.
The mansion, built in 1865, was gifted to the Nepalese in 1937 as a thank you for the heroic help from the Gurkhas to the British armed forces. Soldiers regard the Victorian Villa as a priceless part of their history.
They pay a nominal £1,000 a year rent on the crown lease, but the mansion - which has remained untouched for half a century - requires more than £5million in essential repairs.
The rundown property, which backs onto Palace Green, has been described as a 'national embarrassment' in its current condition.
Exclusive: A 12-bedroom mansion on Kensington Palace Gardens which was bought by Britain multi-billionaire steel magnate Lakshmi Mittal
Embassy street: The Russian Ambassador's official residenence on Kensington Palace Gardens
Heritage: The exclusive No 12A Kensington Palace Gardens was given to Nepal in 1937 as a thank you for the work of their Gurkhas in the British armed forces
Toilets don't flush, the roof needs repairs and visa applicants are greeted by the sound of pressure cooker whistles from upstairs.
But despite the 32,000 square foot property's dilapidated state, there is likely to be a bidding war the moment the property is officially made available. It is not known whether the Nepalese Government has decided to go ahead with the sale.
Desirable location: The luxury property is located in the heart of the London
Trevor Abrahmsohn, from Glentree Estates, who sold Bernie Ecclestone's house on Kensington Palace Gardens to Lakshmi Mittal in 2004 has previously said the road is one of the best protected in the UK.
He said: 'With all the embassies in the road, security is probably higher than any other private road in the UK. This is why it is so sought after amongst oligarchs who crave their privacy and protection.
'The mansions in the road are surrounded with sizeable gardens and that is unique in central London.
'Of course, once you exit this road you are literally in the centre of London.
'Since there are very few properties in this road available at any time, of the few people able to afford it, there could certainly be a bidding war.'
Research by Knight Frank, the upmarket estate agency, shows about half of the homes bought in central London for more than £1million are acquired by foreigners from countries such as Russia, the United Arab Emirates, the United States, France, Singapore and India.
Many of the world's super-rich, including Britons, have concluded that London property is one of the best investments at a time of global economic uncertainty.
Kensington Palace Gardens Home For Sale
Source: https://www.dailymail.co.uk/news/article-2380644/100m-mansion-sale-Londons-Billionaires-Row-Saudi-Prince-owner-wants-transaction-remain-secret.html
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