Those looking to go up in the world have a once-in-a-lifetime opportunity to live on London’s “Billionaires’ Row” — but only property hunters with the deepest of pockets should apply.
The Saudi Arabian royal family is believed to have sold 10 properties on The Bishops Avenue in Hampstead for £80 million, making way for the next generation of super-rich.
Investment company LJ Capital is said to have bought the houses — many of which have never been lived in — to create a luxury mansion and apartment complex on on the five-acre site.
Homes on the famous tree-lined street are renowned for their size, grandeur, large gardens and sumptuous furnishings.
The Brunei royal family are among its high-profile residents, who have in the past included Bernie Ecclestone, Ringo Starr and Joan Collins.
Steel magnate Lakshmi Mittal also lived on the road until last year when he sold Summer House for £35 million.
It has 11 bedrooms, marble bathrooms, and a glass lift that descends to a basement with a swimming pool and Jacuzzi.
LJ Capital, which invests on behalf of wealthy families, is understood to have taken a £36 million bridging loan from Topland Group to make the purchase.
It has appointed specialist luxury developer Harrison Varma to advise on the project and is carrying out a planning review with Barnet council.
Trevor Abrahmsohn who runs estate agents Glentree International and has sold £3 billion worth of property on the street, said The Bishops Avenue is a must-have address for ultra-rich foreigners wanting to tell the world that they have arrived on the main stage.
Mr Abrahmsohn described the road as “a cross between a country estate and a town residence”.
He added: “The Bishops Avenue is probably one of the best-known addresses in the world, ranking alongside Beverly Hills.
“It is the address which is one of the ultimate statements of wealth.”
