After writing that title, I feel a little better about the rent I pay…
Cornwall Terrace is home to some of the most expensive homes in the world. Don’t believe me? Re-read that title again, because $120 million is quite a large sum.
Here is a quick breakdown of the property thanks to LuxuryLaunches:
- The economic implications of owning this high profile property is more in monetary terms. There would be a $17.88 million (£12 million) stamp duty, apart from $2,040 (£1,369) charge per year in Council Taxes.
- The strange thing however, is that the property stands at approx 412 times the price of an average property within UK.
- In order for the purchase to go through, Cooper has created a separate legal entity called ‘1 Cornwall Terrace Limited’.
- The Cornwall Terrace apartment in question is placed directly opposite Regent Park and was once the residence of the High Commissioner from 1950s to the 1970s, before being converted into a squatting place by a group of hippies. After that it went subsequent refurbishing to come up as one of the top pieces of real estate to own from the world over.
- History shows that the place was actually named after King George IV as he was the Dutch of Cornwall.
- The building block was originally created by Decimus Burton with the supervision of John Nash.
- 21,000 sq ft, 11 bathrooms, 7 bedrooms, 9 reception rooms, and a catering kitchen.
(Source: LuxuryLaunches)
