Would you pay £25 million for a London flat?

An incredible penthouse apartment has hit the market in Marylebone, for a jaw-dropping £25 million. The development comes complete with a private cinema, an on-call personal trainer and chef, a private tasting room, a gym, a sauna, and David Bailey artworks on the walls. But can it really be worth £25 million?

The Chilterns development in W1 is in one of the most desirable parts of London - a stone's throw from the achingly trendy Chiltern Firehouse. This flat boasts 5,047 square feet of space - including four individual bedroom suites - and a walk-in wardrobe in the master bedroom that's as big as most people's spare room. There's also an additional studio flat - presumably for staff.

The flat is designed for impressing your many guests. There are three private rooftop terraces, which are accessed through folding glass walls. There's also a dining room with space to seat 16.

However, when it comes down to it, this is just a four bedroom flat in London for £25 million.

Compared

It's far from the most expensive penthouse flat ever sold in London. That title went to One Hyde Park, which reportedly sold for £140 million in May this year. It was three times larger than this property, but six times more expensive.

However, in the area, you can get some stunning homes for this sort of money, including a 7 bedroom terraced house on Nash Terrace in Regent's Park, which is a completely refurbished Grade I-listed house with a garden of its own, leading to one of London's most impressive public spaces.

Alternatively, for roughly half the cost you could get a penthouse apartment in a 1875 French empire-style terrace in Regent's Park, laid out over three floors and boasting five bedroom suites, a roof terrace and parking. In fact, if you like all the bells and whistles of the Chiltern, you can get the penthouse next door for £12,575,000 - with around half the floor space, and three bedrooms, but all the chefs, personal trainers and private cinemas you need.

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Will it sell?

The developers surely have to appreciate the fact that they are launching an incredibly expensive penthouse in a market which has started to show real weakness. Last month prime central London house prices fell - with a range of experts putting the fall at anything from 3% to 20%.
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Even if the falls are at the more modest end of the spectrum it could give pause to the multi-millionaires who would be interested in this sort of property. They're unlikely to need to move terribly fast, as they probably have a number of properties around the world in which they can bide their time to see what happens to the property market in London.

At the very least, it has to be off-putting to those buyers who have been parking their money in posh London properties on the understanding that it's a relatively safe haven for their spare cash, even if they never bother to stay in the home.

But what do you think? Can a London flat be worth £25 million? And will there be someone out there with enough money to consider this a bargain in the current market?

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