A freehold residential investment opportunity in London’s Knightsbridge area has hit the market with a £28m price tag.
Located at 47 Princes Gardens, on the border of Knightsbridge and South Kensington, Cornerstone comprises three interconnected Victorian buildings with three mews houses at the rear, offering approximately 26,147 sq ft of gross internal area.
The property 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.
Harrison Collins, partner in the residential investment team at Knight Frank, which has been instructed to market the opportunity, 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.”
