Prime London agency Lurot Brand claims to have set a record sale price for a traditional London mews street in the Hyde Park W2 area where many such properties are found.
This month a sale in Hyde Park Gardens Mews by Lurot Brand achieved £2,326 per square foot. At a sale price of £3.75m the agency says this was 15 per cent above the previous record price and makes this specific mews street the most expensive of all 67 mews streets in the area.
The transaction very easily beats the previous record in this part of W2, where Zoopla states an average value of £1,403 psf for a terraced house.
“To put this sale into perspective, a house in Tony Blair’s mews, the nearby Archery Close, is currently on the market for a price that is 30 per cent less at just £1,628 a square foot” says James Robinson, Lurot Brand’s general manager.
“This particular house in Hyde Park Gardens Mews was a perfect specimen in terms of size and location, being un-modernised it provided a project for the buyers to put their own stamp on. Its proximity to Hyde Park and crucially its position within the mews being on the south side of the street, elevated its value considerably. Although the owners had no intention whatsoever of selling the property, our tenacity and expertise in mews properties paid off, and we negotiated to reach an offer level the owners simply could not refuse.”
Last year Hyde Park Gardens Mews hit the headlines as the location of London’s most expensive outdoor parking space - one was for sale at a price of £350,000.