There were some interesting property sales in London in 2015, including luxury homes selling for multiple millions of pounds and some surprising sellers that outperformed even the highest estimates. With the arrival of 2016, many people are wondering what the near future will hold for the market. Now is a good time to take a look back to some of the most amazing sales of the past year.
One of the most expensive homes sold in 2015 was a penthouse on historic Albemarle Street in Mayfair. The luxury three-bedroom property covers 5,845 square feet and was bought by a mystery buyer in December. It cost £30 million and the new owner is expected to be paying £61,000 per year as a service charge.
November saw what is arguably the most unusual sale of the year. A pre-fabricated bungalow in Peckham dating from the 1950s sold at auction that month for £950,000, which was well over the £590,000 guide price. The property was dilapidated and didn’t have a fitted bathroom, but sat on 0.6 acres of land, so buyers clearly saw the potential.
In the same month, headlines were grabbed by the rapid sale of starter homes in new development Trinity Square. The 215 apartments and studios sold out in just three hours after prospective buyers camped overnight to make a purchase. The properties were bought for a collective £60 million even though they won’t be completed for two years.
In July the popularity of Primrose Hill reached new heights when a garden measuring 45 feet in length sold for £1.25 million. The land sat behind an existing property and had been put on the market valued at just £100,000. The incredible sale price shows just how highly sought-after the area is.
July also saw a bid on the most expensive home in the UK. The 45 bedroom mansion in Knightsbridge, located in the sought after borough of Kensington and Chelsea and just a short distance from Hyde Park, was placed on the market in 2012 for £300 million. The £280 million bid fell short of the full asking price, but it would still have set a new record.
If 2015 is anything to go by and predictions of further growth in prices come to pass, 2016 could be an even more exciting year for property sales in London. Whatever takes place, we will always be on hand to provide support, guidance and estate management services to help our clients get through it.