Super-prime St John's Wood townhouse pitched as 'possibly the best value home in the area'
Full ArticleMulti-million-pound price cut makes 'ambassadorial' Hamilton Terraceresidence one of PCL’s best deals, says agency.
A super-prime Victorian townhouse in St John’s Wood is being pitched as “possibly the best value home in the area” after taking a multi-million pound price cut. Slashed from £14.75mn to £11.5mn, the 8,200 sq ft property on Hamilton Terrace, a top address in NW8, comes with grand reception rooms, a coach house, cinema room and gym. Sales agency Ian Green Residential said the 22% reduction takes the asking rate to £1,371 per square foot, which “cannot be matched for similar homes in the area and possibly the rest of Prime Central London”.
According to the latest analysis by Coutts, the average discount across Prime London was 8.7% in Q2 – slightly below the previous quarter but “indicative of the consistent gap between buyer and seller price expectations”. 38.3% of sales in Q2 had seen their published asking price reduced, and 77% of sales were completed at a discount to the asking price. The biggest discounts are being secured in Central London postcodes, particularly the traditional international buyer hotspots: the average in Mayfair & St James’s during Q2 was 17.7%, followed by Knightsbridge & Belgravia at 12.5%. That compared to average discounts of just 2.1% in Battersea, Clapham & Wandsworth, and 4.5% in Wimbledon, Richmond, Putney & Barnes – where needs-driven domestic buyers have been out in force
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