A mansion on “Billionaires’ Row” in north London has sold for £33.7 million - more than 70 times the average cost of a property in the capital.
Jersey House is a 20,000 sq ft new-build in The Bishops Avenue, Hampstead, a street known for its super-rich residents as well as for empty, decaying “ghost homes”.
The property has eight bedroom suites, a leisure complex with a 10.5-metre mosaic-lined indoor swimming pool, a massage room, two-bedroom staff accommodation and 1.2 acres of land.
It also has a reception hall with a 21ft-high ceiling, an eight-person lift and a dining room large enough for 10. The master suite is 1,800 sq ft, or larger than a typical three-bedroom house.
Ten types of marble were used in the construction of Jersey House, with the floors decked out in “luxurious deep woven wool carpet”.
It was originally put on the market for £39 million, but was reduced last year to just under £35 million.
Jersey House, The Bishops Avenue
It has now been sold for £33.7 million, making it the most expensive sale of December recorded by the Land Registry and the third highest of the year.
The site was bought for £4.2 million in 2001 and the home’s buyer is believed to be from the Middle East. The sale was logged on December 5, the day after George Osborne’s stamp duty changes were introduced.
If the deal exchanged before the changes came in, the buyer would have paid £2.35 million in stamp duty — a saving of £1.6 million over the £3.95 million that would have to be paid after midnight on 3 December. The Land Registry’s latest report says 1,132 homes sold for more than £1 million in October — up from 984 in October 2013.
But buying agent Henry Pryor said: “The million-pound market was already slowing in the autumn and while we wait for official figures I think this trend continued up to Christmas.”
