£19.75m mansion sale marks return of "super-wealthy" international buyers to London
As part of Bdaily’s latest feature week, The Property Market, we look to London property specialist Beauchamp Estates, who has sold the £19.75m 6,504 sq ft five bedroom London residence of the billionaire Hariri family in Cadogan Gardens in Knightsbridge.
This residence is notably close to Harrods, and has been sold to an “ultra-high-net-worth” Lebanese buyer who wanted a super-luxury London residence for his family.
Gary Hersham, founding director of Beauchamp Estates commented: “Beauchamp Estates has sold this extremely refined London home of the Hariri family to an ultra-high-net-worth Lebanese businessman who wanted a super-luxury London home for his children to live in.
“London is the international capital of the world and Knightsbridge, on the doorstep of Harrods, is the place to be in the capital. London’s super rich buyer market has continued to be extremely buoyant during the course of the first six months of 2022.
“We have seen a flurry of deals for London properties priced over £15 million, earlier in the year many buyers were UK based buyers as international flights resume we are seeing the return of wealthy international buyers as this latest Knightsbridge deal in Cadogan Gardens underlines.”
The billionaire Hariri family, of whom Rafic Hariri and son Saad Hariri have both served as Prime Ministers of Lebanon, are reportedly one of the wealthiest families in the Middle East.
This Knightsbridge property deal by two of the wealthiest families in the Middle East underlines the return of “super-wealthy international buyers” to London and this year the return of Knightsbridge, Belgravia and Kensington as key places for £10m plus property deals in Prime Central London.
Jeremy Gee, managing director of Beauchamp Estates said: “Since the start of 2022 there have been a wave of deals for Prime London homes priced above £10m with the lion’s share of deals done in the £15m to £25m price bracket.
“This year, especially as international buyers have started to return to the capital, the top five locations for super-prime deals are Knightsbridge, St John’s Wood, Kensington, Belgravia and Chelsea. The traditional neighbourhoods of the super-rich are once again the locations for the majority of top end deals.”
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