Joint selling agents Savills and Aylesford, on behalf of Zenprop, are selling 1-18 York Terrace East with a guide price of £185 million.

The Grade 1 Listed 117,000 sq ft building has planning permission for the development of two houses and 26 apartments with 42 underground parking spaces.

The terrace is Part of John Nash’s masterplan for Regent’s Park. It was built by James Burton between 1821–26 and was originally configured as 18 single family houses.

During the Second World War, the building suffered significant bomb damage.

In 1947 a decision was made to preserve the building and most of it was requisitioned as government offices and occupied by the Ministry of Works. In 1967, the terrace was converted to student accommodation by the International Students Trust. Many original internal features were lost following a fire in 1969. The buildings were listed as Grade I in 1970.

Zenprop acquired the building from International Student House in 2016. A long leasehold extension with the Crown was agreed. The site iis set to bee redeveloped in three years and it includes building 44 affordable housing units in the borough for St Martin in the Fields Almshouse Charity at the site known as Chesterfield Lodge in St John’s Wood.

Derrick Beare, CEO of Zenprop commented: “Working on this historic terrace to reinstate its prime residential use, in accordance with the original architectural vision for the park and with the support of the Crown as freeholder, has been a very rewarding experience. It is a unique property which is now fully assembled and we look forward to seeing its magnificent restoration.”

Stephen Lindsay, head of Savills St John’s Wood, added: “Nothing on this scale in such a prime London location has ever come up for sale. It is an opportunity to create a special and extensive private estate within the tranquil surrounds of Regent’s Park, moments away from Marylebone High Street and the West End.”