A vast luxury property in London's Admiralty Arch, overlooking Buckingham Palace, could sell for up to £150 million ($197 million), the Evening Standard newspaper reported on Tuesday.
Four serviced apartments in the Admiralty Arch — a London landmark built in 1912 and commissioned by King Edward VII — went on sale this week and can be purchased either individually or as one huge property.
If sold as one residence, the property could fetch up to £150 million, both the Telegraph newspaper and the Evening Standard said, citing unnamed estate agents. This assumes the property would fetch £8,000-£9,000 per square foot and the buyer would pay stamp duty (a U.K. property purchase tax) of over £16 million.
If sold for £150 million, the apartment would set a new London and U.K. record, trumping the reported £140 million sale of One Hyde Park in 2014.