Lodha UK sells penthouse in London for Rs 1400 crore
This is perhaps the most expensive home sold this year. On a per sq ft basis, it cost almost Rs 9 lakh per sq ft.
The London-based arm of Lodha Group, Lodha UK, has sold a penthouse at London’s prestigious No. 1 Grosvenor Square for 140 million pounds (around Rs 1,400 crore), making it the world’s most expensive real estate sale in 2020.
Located in Mayfair, near the United States Embassy and Hyde Park, the residential property, that will be opening in December, provides a unique opportunity to own a beautiful residence in one of London’s finest neighbourhoods.
“This is the most expensive home sold this year and probably amongst the top 5 most expensive homes ever sold. On a per sq ft basis, at GBP 9200 per sq ft (almost Rs. 9 lakh per sq. ft.), it is the most expensive home ever sold in London. To make a mark of this stature globally is truly a testimony to our efforts of building the world’s finest developments,” said Gabriel York, co-CEO of Lodha UK.
No 1 Grosvenor Square is the only building that has served as the American Embassy and then as the Canadian High Commission. It has been home to John Adams, the second president, who lived in 1785 as a US ambassador. And to top this off, there is a replica of the world-renowned Oval office in the lobby of the development.
The property was acquired in 2014 by Lodha for around Rs 3,000 crore. The company restored the façade of the building and also built the apartments. The development houses 39 apartments and five duplexes.