Mansion tax, shmansion tax - check out this GBP24m London home
Fri 29 May 2015
Property types may have been worried about the looming spectre of a mansion tax during the run-up to theGeneral Election - but that concern clearly didn't stretch to one billionaire buyer, who forked out 24m on a housein Notting Hill.
An "unmodernised" end-of-terrace home on Kensington Park Gardens, which comes complete with eightbedrooms and bathrooms, four reception rooms, two dressing rooms, four cloakrooms, a staff flat, a swimmingpool, a linen room - and even the ultimate London luxury, off-street parking - sold a few weeks before theelection.
The 11,660 sq ft home will have cost the buyer just shy of 2.8m in stamp duty, said estate agent Marsh &Parsons, which sold the house, which added that it was a positive sign for the prime central London market.
The view from the top: the buyer also gets access to private garden Ladbroke Square (Source: Marsh & Parsons)
"Buyers are learning to live with the new higher stamp duty costs above 937,000," said Keith Gorny, the directorof Marsh & Parsons Prime Sales. "Prime London property continues to be a highly sought-after asset."
And it looks like the end of uncertainty over mansion tax - both Labour and the Liberal Democrats had threatenedan annual tax on homes worth more than 2m - has paid off for London's prime residential property market.
Figures earlier this week by estate agent comparison site Getagent.co.uk found the number of properties worth2m plus listed on it have doubled since the election.
"For the first time in a while we've got serious interest, people talking about offering more viewings," Nick Davies,from agent Stirling Ackroyd, told City A.M.