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Mon 29 Jul 2013 04:10 PM

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Saudi prince said to sell $230m London mansion

Can anyone afford one of the most expensive homes on the richest street in London?

Saudi prince said to sell $230m London mansion
A general view of houses along Kensington Palace Gardens in London. (Getty Images - for illustrative purposes only)

A Saudi prince has put on the market one of the most expensive properties in the world, carrying a price tag believed to be worth £150m ($230.6m), according to local media.

The three-storey mansion in Kensington Palace Gardens is one of the most luxurious homes in the most expensive street in London, which boasts the third most expensive luxury property in the world according to Knight Frank.

The street is bordered by heavy security and boasts Kensington Palace as its neighbour, where Prince William and Kate Middleton are currently staying with newborn Prince George.

The average property price on the affluent strip is £19.2m, according to property company Zoopla.

That equates to about 93 times the national average house price of about £210,000, the Daily Mail reported. A single square foot of land in the street would cost £1193.

Members of the Saudi royal family own about 10 properties in the street, the newspaper said. London is a popular vacation and investor destination for the oil-rich kingdom’s wealthy.

The property for sale is owned by Prince Abdul Aziz bin Fahd and is located at the bottom of Kensington Palace Gardens.

With such a hefty price tag few in the world will be able to afford the home, meaning it could stay on the market for some time.

Prince Abdul also has requested any potential buyer sign a confidentiality agreement to not disclose the sale price, The Times reported.

According to the Daily Mail, other residents on the half-mile street are said to include the Sultan of Brunei, the steel magnate Lakshmi Mittal and the founder of Foxtons estate agents, Jon Hunt.

Both ends of the street are manned by armed Diplomatic Protection Group officers because it houses several embassies, including those of Israel and Russia.

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Jasmine Bird 7 years ago

Sorry but that is just wrong ....