Property news PrimeResi brings you the latest news in prime property and development in London Carlton House Terrace, Images courtesy of ROCKHUNTER
Top of the grade Inside the Carlton House Terrace mansion that was sold off by The Crown Estate
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uried among record returns and profits, The Crown Estate’s latest annual report also confirmed the sale of one of London’s great townhouses. Lording over the Mall, Carlton House Terrace was built between 1827 and 1833 as part of John Nash’s Roman-inspired Via Triumphalis route from St James’s to Regent’s Park – for many, the single most successful town planning scheme of all time. Described by Pevsner in his volume for Westminster as “the greatest terraced houses ever built in Britain”, these vast mansions provided the grandest of addresses for London’s noble folk until the first part of the 20th century, when the Second World War prompted a raft of conversions into offices and headquarters.
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It has taken a while, but ultra-highnet-worth individuals are realising that these places are peerless in location and volume – the Hinduja brothers have led the way with their project at Nos. 13-16, creating a single residence worth an estimated £250m. Now it’s the turn of No.1 to return to original trophy home use. The Grade I-listed mansion at the Buckingham Palace end suffered some
heavy bomb damage during the Second World War, but was partially restored. The Institute of Materials, Minerals and Mining moved in during the 1970s, for 42 years. After buying in the head lease for £15m and getting the green light for a residential conversion, the Estate slipped the five-storey behemoth onto the grey market last year via Aylesford, asking a rumoured £55m for a new 125-year lease. While the final selling price remains undisclosed, the Estate has confirmed completing the sale. Designs provide a single residence of more than 26,000sq ft, with the original sweeping staircase, seven reception rooms, five bedrooms, staff accommodation, a pool and sauna, cinema, wine cellar and terrace overlooking St James’s Park.