On the northern edge of London’s famed Hyde Park, an undulating new luxury development debuted its residences on Tuesday, and its most lavish offering is a sprawling £60 million (US$84.7 million) penthouse.
Currently under construction and set to be completed next year, Park Modern offers 57 one- to six-bedroom residences over nine floors, including three penthouses, lateral apartments and mews houses, the project’s developer Fenton Whelan announced this week.
Accompanying the homes will be hotel-style amenities including a concierge, a resident’s lounge, valet parking and a wellbeing floor with a 25-meter pool, a gym, a spa, a 16-seat cinema and a treatment salon.
Encompassing the top floor, the £60 million trophy penthouse is the crown of the Park Modern.
The six-bedroom home spans more than 7,000 square feet inside—and a wraparound terrace adds another 2,400 square feet outside—and will be loaded with lavish amenities. There’ll be soaring ceilings, three reception rooms, a staff studio and views across the city taking in famous sights including Kensington Palace, the Royal Albert Hall and the Shard, according to Fenton Whelan.
“The south-facing aspect means that the penthouse will have sunrise to sunset views,” and natural light will cascade “through the floor-to-ceiling windows that border the living spaces,” James Van Den Heule, co-founder and director of Fenton Whelan, told Mansion Global.
“We anticipate that the purchaser will want to work with us to fully customize the design of the penthouse and the roof terraces to meet their personal lifestyle requirements,” he said. “A yoga studio, a home gym, a private cinema or a rooftop cocktail bar and an infinity pool are the types of features that a penthouse buyer may wish us to tailor for them to create their perfect Hyde Park residence.”
London’s high-end homes have just seen their prices tick up on a yearly basis for the first time since the U.K.’s Brexit vote in 2016, demonstrating the newfound vitality within the market. The gradual relaxation of international travel rules is expected to give a further boost to the city’s high-end housing sector, which in April recorded a 21% jump in sales compared to April 2019 levels.
“The prime central London housing market has roared back to life,” said Mr. Van Den Heule. Prior to the official launch on Tuesday, Park Modern had pre-sold £100 million worth of apartments to buyers across the globe.
“As the U.K. and global vaccine rollout has begun to work we have seen buyers, who have been watching from the wings during the pandemic, now come out and make offers on apartments,” Mr. Van Den Heule said.
“There is a real pent-up demand out there and U.K. and international buyers want to get in early on the best properties before they are snapped up,” he added. “There is now the feeling that Prime Central London residential property prices will rise over the next 18 months, so people want to buy now to avoid price rises later.”
Article Source: Mansion Global