For those looking to buy or rent in London, especially in one of its most prestigious areas, Knight Frank has unveiled an extraordinary opportunity. The global property consultancy has been appointed to market Cornerstone, a remarkable freehold residential investment in Knightsbridge, SW7. This unique property, situated at 47 Princes Gardens on the border of Knightsbridge and South Kensington, offers investors an exceptional chance to acquire a prime asset in one of the city’s most coveted locations.
Overview of Cornerstone
Cornerstone is a stunning ensemble of three interconnected Victorian buildings with an additional three mews houses at the rear. The property boasts a grand white stucco front, a hallmark of the area’s architectural heritage, and covers approximately 26,147 square feet of gross internal area, spread over lower ground to fifth floors.
Currently, the property is divided into 15 lateral apartments, ranging from studios to four-bedroom units. All apartments are fully occupied, generating an impressive annual rent of £997,000. This already lucrative asset offers significant potential for investors to enhance its value further through refurbishment, reconfiguration, and extension options, subject to obtaining the necessary consents.
Prime Location
Cornerstone’s location is nothing short of spectacular. Positioned on the border of Knightsbridge and South Kensington, it offers residents easy access to some of London’s most iconic destinations. Hyde Park, Harrods, and a plethora of renowned museums are all within walking distance. Additionally, the area is home to Imperial College London, recently ranked 2nd in the QS World University Rankings, making it an attractive locale for affluent local households and international residents alike.
The excellent transport links add to the property’s allure, making commuting and exploring London convenient for residents. Knightsbridge station, served by the Piccadilly Line, is just a short stroll away, connecting residents to the wider city and beyond.
Investment Potential
Harrison Collins, a Partner in the Residential Investment team at Knight Frank, emphasised the unique investment potential of Cornerstone:
“Cornerstone represents a rare opportunity to acquire a best-in-class freehold residential asset in one of London’s most prestigious addresses. The property’s grand lateral apartments, prime location moments from world-class attractions, and potential to add value, makes this a compelling prospect for investors and developers.”
Investors can look forward to various avenues for enhancing the property’s value. The Victorian buildings, with their historic charm and substantial size, offer a canvas for sophisticated refurbishments and reconfigurations. The addition of modern amenities while preserving the classic architectural elements could significantly boost rental yields and capital value. Furthermore, subject to planning permissions, the potential for extending the property adds another layer of opportunity for value appreciation.
Lifestyle and Amenities
Living in Knightsbridge is synonymous with a luxurious and cosmopolitan lifestyle. Residents of Cornerstone will find themselves at the heart of one of the most affluent neighbourhoods in London. The proximity to Hyde Park provides a serene escape from urban life, perfect for leisurely walks or morning jogs.
Shopping enthusiasts will revel in the closeness to Harrods and a range of high-end boutiques along Sloane Street. The cultural vibrancy of South Kensington, with its array of museums such as the Victoria and Albert Museum, the Natural History Museum, and the Science Museum, is just around the corner. Fine dining options abound, with a myriad of Michelin-starred restaurants and charming cafes lining the streets.
