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September 14, 2012
2-8A Rutland Gate – 60,000sqft of Opulence
It was recently announced that the property at 2-8A Rutland Gate would be offered for sale though not officially marketed. Such soft marketing of trophy properties is not uncommon, as such strategies are often pursued to avoid the stigma of having a property listed for a large amount of time, which inevitably attract lower offers from purchasers after some time. Less common is the staggering size of the property in a ultra prime central London, which covers an approximate total area of £60,000 sq foot. At this guide price, this palatial residence would still offer better value per square foot at £5000 per square foot than the penthouse at One Hyde Park which sold for over £6,000 per square foot.
Image source (http://ktelontour.blogspot.co.uk/2012/09/for-sale.html)
The property, which quite literally is fit for royalty, was formerly owned Sultan bin Abdulaziz, crown prince of Saudi Arabia and previously by Rafiq Hariri, the late Prime Minster of Lebanon who gifted the property to him. The properties were most recently re-built in 1985–7 by the architects YRM. The current building replaced the original No. 2 Rutland Gate and a Nos 4–8A which Holland & Hannen and Cubitts (source: http://www.british-history.ac.uk/report.aspx?compid=45932).