All posts filed under: REAL ESTATE

Grosvenor Crescent is UK’s Most Expensive Street with £17m Average Homes

Grosvenor Crescent, located in the heart of Belgravia between Hyde Park Corner and Belgravia Square, is the most expensive residential street in England and Wales, according to the annual research from Lloyds Bank. A typical property on Grosvenor Crescent will cost an average of £16,918,000. Embed from Getty Images Belgravia has long attracted wealthy buyers and famous residents including former prime ministers Stanley Baldwin and Margaret Thatcher to the area due to its graceful white stucco residences, sweeping crescents, private garden squares and closeness to all the amenities of nearby Knightsbridge, Pimlico and Chelsea, to create the nation’s wealthiest district – three of the top five most expensive streets are in Belgravia. Grosvenor Crescent seems to have weathered the storm buffeting property valuations at London’s top-end of the market after the vote to exit the European Union, with the typical price tags unchanged since last December. However same thing cannot be said for next-door neighbours Eaton Square – which topped the bank’s table a year ago – which has seen more than £3m wiped off …

Super-rich ‘Happy to Pay Voluntary Mansion Tax’

A London council plans to launch a revolutionary voluntary “mansion tax” on high-value properties which its leader says the rich are happy to pay. The tax would be for owners of properties worth more than £10m, like the One Hyde Park luxury apartments which heralded the prime central London high-end property boom. Nickie Aiken, leader of Westminster Council, is confident Ultra High Net Worth Individuals (UHNWIs) would pay the optional charge. “This scheme might have its cynics, but I have spoken to very wealthy people who want to help the borough more,” she said. She explained proceeds could be used to freeze council tax for other council tax payers. The tax would collect a voluntary supplement of £1,376 a year from the estimated 2,000 owners of £10m-plus properties in band H, doubling what they already pay in council tax. The scheme would raise an extra £2.75m a year if they all fulfilled their promise made the payment. It will come into force from next April and the voluntary contribution will be collectable alongside ordinary council tax. …