Lodha's UK arm sells penthouse in London for 140 mn pounds

Lodha UK, the real estate arm of Lodha group, on Monday said it has recently sold the penthouse in London for 140 million pounds, the "most expensive" home sale deal this year.

Mumbai-based Lodha group said in a statement that its UK arm sold the "penthouse at London's No. 1 Grosvenor Square for GBP 140 million, making it the world's most expensive real estate sale in 2020".

The project is located in Mayfair, near the United States Embassy and Hyde Park.

Commenting on the sale,?Gabriel York, co-CEO of Lodha UK said, "This is the most expensive home sold this year and probably amongst the top 5 most expensive homes ever sold. On a per sq ft basis, at GBP 9,200 PSF (almost Rs 9 lakh per sq ft), it is the most expensive home ever sold in London."

No. 1 Grosvenor Square is the only building that has served as the American Embassy and then as the Canadian High Commission.

It has been home to John Adams, the second president, who lived in 1785 as a US ambassador. And to top this off, there is a replica of the world-renowned Oval office in the lobby of the development.

Lodha group bought this property in 2014. The development houses 39 apartments and five duplexes.

Lodha group had made a foray into the London market in 2013 with the acquisition of the landmark MacDonald House at 1 Grosvenor Square in prime Central London for over GBP 300 million (Rs 3,100 crore).

The group acquired another site in prime Central London, New Court at 48 Carey Street for 90 million pounds in 2014.
 

The story has been taken from a news agency