The Park Crescent Generates £60m in Sales After Launch onto Market.
Almost £60m of sales have so been agreed at The Park Crescent, a super-prime property project at the heart of Regent’s Park.
Amazon Property, who own the properties, announced that they are rolling out 20 homes at The Park Crescent in 3 phases; and the 1st phase of 8 properties has sold out for price tags between £3.95m and £17.95m. The entire 20-property project is estimated to fetch up to £200m.
The Park Crescent, completed in 1820, was designed by the famous Georgian architect John Nash. He was also responsible for remodelling Buckingham Palace and Brighton’s Royal Pavilion.
Towards the end of the 20th century, many of the crescent’s former homes were transformed into offices. The entire set of properties were bought by Amazon Property in 2013 and turned back into homes.
Amazon claimed that, o the 8 homes sold, most were bought by domestic buyers who “downsized” to buy the properties; the buyers sold their larger homes elsewhere to purchase property at The Park Crescent. Among other buyers were wealthy investors from the United Arab Emirates.
Amazon Property’s director Chris Lanitis said: “For our phase two release we anticipate significant interest from British families relocating from north-west London, and buyers from continental Europe and the Middle East.”
“Affluent north-London-based downsizers and buyers from the Middle East drove our phase one sales. With the repositioning of pound sterling against the dollar, we anticipate that our phase two release will continue to be driven by domestic downsizers, but could also see a rise in interest from dollar-linked overseas buyers from the Middle East and Asia.”