London’s Hyde Park Square is a restful sea of green surrounded by residential buildings. Reserved for the exclusive use of residents, the gated plot of mature trees, lawn, benches and pathways offers a welcome respite for those seeking a private open-air spot to take in a pleasant day.
Set within the Hyde Park Estate, a residential district that includes the Connaught Village luxury shopping quarter, is an airy leasehold penthouse currently for sale and represented by Dylan James of Chestertons. “It is an affluent area, characterized by a layout of garden squares and crescents,” James says, “and is home to several embassies, prestigious businesses and celebrities.”
The sought-after neighborhood enjoys a mix of British and international inhabitants. “But we do have quite a large community of residents that live here and work in London as the area is close to Paddington Station,” the agent says. “Transport to Heathrow and around London is very easy from here.”
Lancaster Gate Underground Station and Marble Arch Underground Station, as well as Paddington, are all within a 10-minute walk. The boutiques, cafes, restaurants and pubs of Connaught Village are also nearby.
If the park square and walkable environs aren’t enough to satisfy the need for outdoor space, the penthouse comes with a private 585-square-foot rooftop terrace that takes in southerly views of the manicured communal gardens and cityscape.
High vaulted ceilings and skylights enhance the 2,148 square feet of interior space. There are two living or reception rooms, a formal dining room and eat-in kitchen with a center island. The three bedrooms are all ensuite. The residence comes with underground parking.
The penthouse, priced at about US $4.23 million, is in a building with a concierge and elevator. The one-time World War II bomb site was redeveloped in the 1980s in keeping with the Georgian-style structures in the area.
Generally, prices for this sort of property hold quite well, James says. “Sellers in this area for the most part don’t need to sell … so they hold out for their price no matter how long it takes.”
The lease for the unit is set to expire in 2084. “Which means whoever buys it will more than likely have the lease extended in order to keep the value up and make it more saleable when they sell in the future,” he says.
As for whom James envisions snatching up the residence? “It’ll more than likely be an international cash buyer looking for a London pied-a-terre.”