The listed building was completed in 1826 under designs by John Nash, the architect behind Buckingham Palace, Regent Street and the Royal Pavilion in Brighton.
Britain’s second most expensive home has just gone on the market for an incredible £185million, four years after being purchased by its billionaire owner.
The listed mansion, which overlooks Regent’s Park in central London, was built in 1826 under designs by John Nash, the architect behind Buckingham Palace, Regent Street and the Royal Pavilion in Brighton.
Zenprop, the current owners of 1-18 York Terrace East, want to sell the Grade-I listed terrace to a foreign billionaire.
The amazing property would be become the UK’s second most expensive home if it’s sold for its marketed price. The developers have planning permission for 26 flats and two houses.
Zenprop purchased the property in 2016 but are set to break even under the current asking price.
It it sells for £185million, it would become the UK’s second most expensive house sale, second only to a mansion sold to Chinese property tycoon Cheung Chung-kiu in January this year. That 45-bed property, overlooking Hyde Park, was sold for £200million.
The York Terrace East property, with 117,000 square feet of floorspace, previously served as Government offices and then student accommodation, after bomb damage during World War Two.
Derrick Beare, chief executive of Zenprop, said a buyer would have to spend an extra £80-90million to refurbish about 90% of the interior.
He said the property was “priced attractively for what it is” and described it as “one of the most amazing buildings I’ve ever seen”.
He admitted selling now “is not for me to make a return, it’s pretty much to get my money back and move on”.
