A freehold investment in London’s Knightsbridge is up for sale at £28 million.
Consultancy Knight Frank has been appointed to market Cornerstone, which is situated at 47 Princes Gardens on the border of Knightsbridge and South Kensington.
Cornerstone comprises of three interconnected Victorian buildings with three mews houses at the rear. The white stucco fronted buildings comprise of approximately 26,147 sq ft of gross internal area arranged over lower ground to fifth floors.
Harrison Collins, a partner in the residential investment team at Knight Frank, said: “Cornerstone represents a rare opportunity to acquire a best-in-class freehold residential asset in one of London’s most prestigious addresses.
“The property’s grand lateral apartments, prime location moments from world-class attractions, and potential to add value, makes this a compelling prospect for investors and developers.”
The property currently provides 15 lateral apartments ranging from studios to four-bedrooms which are fully occupied and produce an annual rent of £997,000.
The asset offers investors an opportunity to further enhance value through refurbishment, reconfiguration, and extension options, subject to obtaining necessary consents.
Cornerstone is in a prime location near Hyde Park, Harrods, renowned museums, and Imperial College London.