Join the Rich and Famous
Luxury homes for multi-millionaires
Despite sustained market falls in late 2008 and 2009, finding £10 million properties in the capital is still relatively easy, with a raft of luxury homes always on sale as multi-millionaire sports stars get transferred overseas or business tycoons leave British shores for overseas tax havens. However, £10 million pound properties are not so abundant that they can be found on every street corner - so prospective buyers will need to do some research to find where the best houses are located.
What Streets?
As a rule of thumb, those looking to join the London Exclusive £10 million Club should hone their attention on the north and the west of the city. In particular, Kensington Palace Gardens in the West End is home to some of the world's most enviable homes; in fact it came fourth in a 2008 list of the planet's most expensive streets compiled by 'Wealth Bulletin'. Adjoining Kensington Palace, the thoroughfare plays host to numerous embassies and consulates, including that of Russia, meaning that even those buyers able to afford the sky-high prices would struggle to find anyone willing to sell up.
Looking north, Bishops Avenue in Hampstead has long been known as 'millionaires' row' and for good reason. Here, £10 million can certainly land a decent home, but it would nevertheless look out of place next to properties that come with price tags of £30 million or over. Just round the corner from here is steel tycoon Lakshmi Mittal's former abode, 'Summer Palace', which cost him £40 million but which he later put on the market after deciding that Kensington, after all, was the best place to live with his family.
Aside from these hotspots of the mega-rich and famous, most mansion blocks in the heart of London, including those new developments in Mayfair and close to Harrods, contain penthouse suites costing upwards of £10 million, while the recent trend of Russian and Arabic billionaires knocking through several period properties means even the most unassuming-looking home can come with a huge price tag.
What postcodes?
For the best - and most expensive - north London properties, the N2 postcode is set apart from the rest.
Meanwhile, for the west of the city, any property in the W1, WC1 and WC2 postcodes will likely cost at least seven figures, with most pushing the £10 million mark.
What do you get for your money?
Aside from the prestige of living on one of the most exclusive streets on the planet, buyers snapping up a home that will give them entrance to the £10 million Club will have enviable links to the high life.
In the north, the sprawling Hampstead Heath and the landscaped Regents Park are on the doorstep of most of the best homes, while the West End and London city centre are just a few minutes away by car.
Out west, however, is where the real connections are. Alongside the parks - more Kensington Gardens and St James than the popular Hyde Park - the best properties are in demand due to their proximity to the luxury leisure of the Ritz, the best restaurants and bars, as well as the closeness of Westminster School and numerous other public educators, making homes here popular with billionaires with young families.
