28 Cadogan Gardens
Beauchamp Estates sells 28 Cadogan Gardens for £19.75M

Beauchamp Estates sells 28 Cadogan Gardens for £19.75M

21/06/2022 by Buildington
Beauchamp Estates has sold the 6,504 sq ft five-bedroom residence of the billionaire Hariri family in Cadogan Gardens in Knightsbridge to an ultra-high-net-worth Lebanese buyer for £19.75 million.

The Hariri family – of whom Rafic Hariri and son Saad Hariri have both served as Prime Ministers of Lebanon - are one of the wealthiest families in the Middle East.

The family’s most high-profile London residence was the 62,000 sq ft mega-mansion at 2-8a Rutland Gate which the family owned between 1982 to 2005.

This Knightsbridge property deal by two of the wealthiest families in the Middle East underlines the return of super-wealthy international buyers to London and this year the return of Knightsbridge, Belgravia and Kensington as key places for £10 million-plus property deals in Prime Central London.

Gary Hersham, Founding Director of Beauchamp Estates commented: “Beauchamp Estates has sold this extremely refined London home of the Hariri family to an ultra-high-net-worth Lebanese businessman who wanted a super-luxury London home for his children to live in. London is the international capital of the world and Knightsbridge, on the doorstep of Harrods, is the place to be in the capital.”

“London’s super rich buyer market has continued to be extremely buoyant during the course of the first six months of 2022. We have seen a flurry of deals for London properties priced over £15 million, earlier in the year many buyers were UK based buyers as international flights resume we are seeing the return of wealthy international buyers as this latest Knightsbridge deal in Cadogan Gardens underlines.”

Jeremy Gee, Managing Director of Beauchamp Estates said: “Since the start of 2022 there have been a wave of deals for Prime London homes priced above £10 million with the lion’s share of deals done in the £15 million to £25 million price bracket. This year, especially as international buyers have started to return to the capital, the top five locations for super-prime deals are Knightsbridge, St John’s Wood, Kensington, Belgravia and Chelsea. The traditional neighbourhoods of the super-rich are once again the locations for the majority of top end deals.”

“Prime Central London’s super-prime housing market for multi-millionaire and billionaire buyers doubled in size during 2021, over a two year period there were 49 sales for luxury properties priced over £15 million with 32 sales in 2021 compared to 17 sales in 2020. This is being driven by the huge accumulation of wealth that billionaires have enjoyed over the last two years and the availability of highly advantageous interest-only “billionaire mortgages” which is driving the current “buying spree” of luxury homes in the UK capital.”

The grand house in Cadogan Gardens set in landscaped gardens is one of just a handful of surviving full houses in this sought-after Knightsbridge address.

See other buildings in Cadogan Gardens.

See other buildings Beauchamp Estates has sold and see the contact details for the agent here.
Show all news for 28 Cadogan Gardens