The property includes a spa with a sauna, gym, a movie theatre along with other facilities.
A luxurious townhouse in London, backed by the Qatar Investment Authority (QIA), is set to go on the market for up to $78 million, a representative for the property’s developer told the Wall Street Journal (WSJ) on Tuesday.
According to the report, Qatari Diar, a subsidiary of QIA, had purchased the Chelsea Barracks townhouse in 2008 for approximately $1.9 billion, in partnership with British developers, Christian and Nick Candy.
The purchase has been described as the UK’s most expensive property deal.
Located just around London’s Belgravia neighbourhood, the building spans up to 13-acres and contains seven bedrooms, a spa with a sauna, a steam room, a gym, a swimming pool measuring around 40-feet, a private movie theatre, as well as a wine room.
The lavish building also contains a separate one-bedroom guesthouse and a terrace that offers a breathtaking view of the neighbourhood.
Upon entering the property, guests are welcomed with a limestone-and-marble entrance hall as well as a classical staircase embellished with bronze detailing and steel blausters.
Speaking to the WSJ, Richard Oakes, the chief sales and marketing officer for Qatari Diar, said that the house stands out for its width of roughly 33 feet, with most traditional London Georgian townhouses measuring up to 23 feet wide.
Given that the house is a freehold property, owners purchase the land beneath it rather than signing a long-term lease.
The townhome emerged as a result of a plan to redevelop an old military facility for over a decade, in central London.
The Qatar-backed property is yet another major investment in London by the QIA, which had acquired the high-end department store, Harrods, for around $2.3 billion in 2010—becoming the fifth owner of Harrods since it was founded in 1840.
Reports from last year also claimed that Qatar was in talks with owners of the prominent London department store, Selfridges, but no updates over the purchase have been made public, since.
Qatar further also purchased the world-famous Printemps store in Paris, in 2013, through Divine Investments.
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