London's most expensive flat up for sale at £150 million

London's most expensive flat: A luxury apartment in London's historic Admiralty Arch is now on the market with a record price tag of £150 million, according to a report by Evening Standard.

This 15,000 sq ft home, located in the Grade I listed landmark, features 12 bedrooms and 12 bathrooms, positioning it as one of the world’s most expensive residences.

Historic Admiralty Arch on sale

The 15,000 sq ft apartment in Admiralty Arch, a Grade I listed landmark, offers 12 bedrooms and 12 bathrooms. The developers are marketing this expansive serviced apartment to potential buyers.

Spanish developer Rafael Serrano, who secured a 250-year lease for the building from the government for £60 million in 2012, offers buyers the option to purchase one massive apartment or divide it into up to four units ranging from 1,700 to 7,100 sq ft.

Prime London property agents predict prices ranging from £8,000 to £9,000 per sq ft. Therefore, acquiring the entire residential site could cost up to £150 million, including over £16 million in stamp duty and fees. Buyers would receive a 250-year lease.

The iconic building, designed by Sir Aston Webb, connects Trafalgar Square to Buckingham Palace and has housed figures like Lords Mountbatten and Hailsham.

Serrano is also converting much of the site into a 100-bedroom luxury hotel, with 12 international hotel groups competing to manage it. He stated that purchasing a single serviced residence would create the largest serviced apartment in London.

Amenities and features

The apartment features six-meter-high ceilings, original fireplaces, and antique fittings from 1910. Buyers will also enjoy private off-road valet parking, a private entrance and lift, a 24-hour concierge service, security, and lifetime membership to a private members' club.

"The ceiling heights are at least a third higher than those of other luxury London apartments. There's also the prestige of living at this address and its unmatched London views," said Tim Macpherson, Head of London Residential Sales at Carter Jonas.

Richard Cutt, head of London super-prime at Knight Frank, remarked, “This could be one of the grandest and finest serviced apartments in the world. It’s a globally recognised landmark attached to what will be one of London’s finest hotels.”

Setting new records

If sold for £150 million, the Admiralty Arch property would surpass London's most expensive flat, a penthouse at One Hyde Park that sold for £140 million in 2014.

Proximity concerns

Admiralty Arch’s terrace offers views of Buckingham Palace, St James’ Park, and Trafalgar Square. However, its proximity to the Queen’s residence has sparked controversy, with peers warning that the government’s sale of the landmark could pose national security risks. Former Home Secretary Lord Reid described the development as "not a price worth paying."

Renovations involve top-tier British designers like David Mlinaric and Michael Blair, noted for their work on major British landmarks and hotels. Serrano added that the development team aims to preserve the historic significance of the building.

Construction is underway, with buyers expected to place deposits now and move in within three years. The hotel operator will be chosen in the coming months.