Property in South Kensington |
Over the last week there have been 27 sales over £1m in Prime Central London*
Total sales were £96,008,996
The highest price paid was £9,500,000
The highest price paid per square foot was £2491 for a property in Chelsea
The lowest price paid per square foot was £855 for a property in South Kensington
However, the figure for South Kensington is misleading. This was a block of flats, so the communal areas were included in the official calculations – excluding them the price per square foot was £970. The building is also an irregular shape, so the flats were compromised.
Capital growth is unlikely to be in line with the market due the layout of the flats and lack of a lift. Nevertheless, this was acquired at an attractive price by an investor seeking a good yield (for clarity, we did not acquire this for one of our clients).
