The rise of 'super-prime' Westminster: four homes hit the market with £20 million-plus price tags

For the first time ever, four homes are for sale in Westminster with asking prices of more than £20 million, reflecting the growing status of this "super-prime" London borough.

The uber-luxurious homes range in price from £21 million to £25 million and cement the borough's reputation as a rival to Kensington and Chelsea.

Two of the properties are converted from offices into family homes of Georgian-style grandeur, and sit side by side in Old Queen Street. Number 26, a six-bedroom, eight-storey townhouse with a lift serving all floors and a duplex master suite, is on the market for £21 million. Its neighbour, number 28, is expected to achieve a similar figure.

Rooms with a £21 million view : principal rooms of 26 Old Queen Street all face St James’s Park

"The office-residential change is a key trend of the area that is helping to recreate a village feel and bolster prices," says Kirsty Sugden from estate agents Hathaways.

“There is pressure on good-quality family homes in central London and, as a result, buyers now look outside of the golden triangle of Knightsbridge, Chelsea and Mayfair. Houses in Westminster are grand and spacious with fantastic architecture and situated in a very central location.”

Westminster is the second most expensive area to buy property in London - behind only Kensington and Chelsea - and has seen growth of 6.4 per cent over the last year. Yet the average property price for the borough is still far from £20 million, currently standing at £990,896.

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The third of the £20 million-plus properties, this time with a £25 million price tag, is located in Queen Anne’s Gate - a street that is being restored to its residential roots following decades of domination by office buildings. Queen Anne House is a Grade I-listed, five-bedroom home that has recently undergone extensive refurbishment and restoration.
This Grade I-listed Queen Anne House in SW1 has been extensively restored

Properties around "Queen Anne’s Village" - as the locale is commonly known -  are popular with British buyers for the tucked-away location, but also with Americans and Europeans who appreciate the imposing and impressive architecture, says Sugden.

"For 1,000 years, since Westminster Abbey was built, Westminster has been the heart of political and cultural life in Britain and is synonymous with anything that could be regarded as archetypal for London," she adds.

£25 million: Mulberry House occupies a prime corner position in secluded Smith Square

Mulberry House completes the quartet. A Grade II-listed building by renowned architect Sir Edwin Lutyens, the property offers 11,720sq ft of living space, with seven bedroom suites and staff accommodation - for £25 million.

“It could be argued that Westminster offers the widest range and most varied profile of property in London, from small, purpose-built flats to quintessential Victorian townhouses and stunning St James’s Park Mansions," says Noel de Keyzer, from estate agent Savills in Sloane Street.

A more affordable redevelopment to watch out for is 55 Broadway, the former Transport for London base overlooking St James’s Park, which is set to be transformed into a residential block with family-size homes.

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