A London mega mansion, valued at up to nearly $440 million and which was once home to the late US president John F. Kennedy, is likely to attract Middle East investors due to its exclusive prime location in the UK capital, the agent selling the property said.
13-14 Princes Gate in London’s Kensington was built in 1849 and was the London home of the JP Morgan banking family before becoming the official London residence of the American ambassador in 1921. One of the eight US Ambassadors who lived in the house was Joseph Kennedy, who lived in the house between 1938-1940, along with his son John Fitzgerald Kennedy, who would later go on to become the 35th president of the US.
It was later owned by the Royal College of General Practitioners and was sold for around £35 million ($52 million) in 2010. Developers Viridis Real Estate has now submitted plans to Westminster Council to turn it back into a lavish residential family home.
“The mansion is Grade II listed, and provides 41,000 square feet of living space, this could be configured as either one mega-mansion, or as two residences, providing 30,000 sqft or 11,000 sqft…. This is prime Knightsbridge so if the property was refurbished and converted into a single super-prime mansion it could be worth anything from £200 million up to £290 million, which at the upper valuation would make it London’s most expensive private home,” said Becky Fatemi, managing director of estate agent Rokstone.
With such a high potential value and exclusive location, up the road from One Hyde Park, the luxury residential and retail development that includes residents such as former Qatari prime minister Sheikh Hamad bin Jassim bin Jaber Al Thani, Fatemi expects the property to attract a lot of interest from the Middle East.
“The potential purchasers list for a mansion of this luxury, value and importance is extremely rarefied. The Gulf Royals, in particular Qatari, Kuwait, Saudi Arabia and Abu Dhabi would have the money, and a trophy property like this would interest them. Other contenders are a billionaire businessman from Asia, Russia, Africa or Europe. It’s possible that an oil or gas rich state may also like it for a new embassy or ambassador’s residence but at this price level I think it’s more likely to be a billionaire or oil royal buying as a London home,” she said.
Plans for the property include a huge basement with a swimming pool and underground car park, up to seven bedrooms and a lift.
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