Many say that it is one of the most valuable chunks of real estate in the world and if all the houses on the leafy road came on the open store it would be worth an fabulous £2.5million. The road in inquire is Kensington Palace Gardens and Palace Green. It connects High road Kensington and Notting Hill Gate and everyone wants to live there. The figure of £2.5million does not consist of Kensington Palace itself; this would add someone else £1billion to the figure.
The difference between Kensington Palace Gardens and other hyped real estate locations is that Kensington Palace Gardens has world class buildings in such a unique location that the properties here will all the time be able to command the top prices and never have to fear a asset crash.
Brunei News
Built in 1843 on part of the grounds of Kensington Palace the road was built by notable architects of the time such as Decimus Burton and the designer Sydney Smirke who designed the British museum. At the northern end of the road the style is Italianate whilst the southern end favours the Queen Anne style. Most of the mansions are listed and the lighting is in case,granted by quaint Victorian gaslight style streetlights.
All of the freeholds of the properties belong to the Crown Estates as the mansions were built on palace grounds. Many of the worlds embassies are based on the road so there are gates and check points at both ends of the street. Police presence is also in place although they are very discreet and some of the buildings even have crash barriers. Due to these factors the street, although situated in central London, experiences very slight traffic. Most of the road is occupied by ambassadors for other countries but those that were vacated were renovated by the Crown Estate and sold privately to buyers on long leases.
Kensington Palace, notable to most as the home of Princess Diana, is situated at the southern end of the street. The Duke and Duchess of Kent still reside there as do the Duke and Duchess of Gloucester and Prince and Princess Michael of Kent. Parts of the palace are open to the public. Recently though it has become the place for the world's richest billionaires to want to reside. In 2004 the Indian steel tycoon Lakshmi Mittal bought a house in the road for £57,145.967, although it did have three mews houses at the rear. Previously to him owning it, Bernie Ecclestone was the owner who bought it back in 2001 for £50million. However it was reported that his wife Slavica did not like the building and refused to move in which was the surmise behind the sale. It is now opinion to have trebled in value. Mittal opinion the opposite, he liked the house so much he bought two more in 2008, one for an apparent £70million and someone else for a record £117million. He has got permission to change over 50 rooms in the customary asset he bought from Mr Ecclestone. He is said to be concerned in the Nepalese embassy, although they do not want to sell. However if they did, the building is said to be worth colse to £150million. Russian oil billionaires are opinion to be some of the secret owners on the street, Chelsea owner Roman Abramovich reportedly missed out on one of the mansions but he Sultan of Brunei is the secret owner of entire buildings on the road and has been an owner since 1989. He hardly ever lives there but his investment has skyrocketed.
The 2.5 Billion Gbp London streetTags : todays world news headlines
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