Battersea power station penthouse for £30m?

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If you fancy a high-rise view of Chelsea or Westminster from your new Battersea power station penthouse, it may cost you up to £30 million, according to the investors behind it. Around 250 apartments in total will be up for grabs.

At that price you'll need all the Help to Buy you can get and pray interest rates stay low. So, what do you get for your £30 million?

From £338k to £30m

One of the project's Malaysian backers confirmed that the price of owning a penthouse in the power station will be an estimated £25-£30m and will be built in the second phase of construction, according to Bloomberg.

Phase one, tagged Circus West, sold out earlier this year (75% of the properties were reserved in the first week). Prices started from £338,000 for a studio to £894,000 for a three-bedroom apartment. A social housing element is also planned for the project.

Power prices

Those prices are some distance from £30m. No wonder comments made by the developer's chairman, Lieu Kee Sin, in Kuala Lumpur to push the properties, made headlines in London.

"This is the only apartment in the UK, and perhaps Europe, that's being built on top of a power station," Liew Kee Sin was quoted in the Guardian. "There are people who want to own a piece of the history."

While the arguing over prices continue, for your £30m piece of history you could instead have a 9-bed, 9,000 square foot penthouse with terrace and park views over St James' Park. Alternatively this £29,950m 6-bedder with mews house would be within budget.

Rental demand

Or, you could save yourself £5m and move into Avenue Road, St John's Wood for £25m incorporating "a breathtaking leisure complex including a swimming pool, a gymnasium, a cinema and a games room as well as other features."

Given London's current market froth and talk of £30m riverside apartments, one question lurks: will tenants of these properties really pay what the owners demand when a slowdown arrives? Not all City professionals will be sold down the river.

From Peckham shell to dream home - Choumert Mews

From Peckham shell to dream home - Choumert Mews