Most Expensive U.K. Homes 2007

Real Estate Feature

What kind of home would you have loved to own if you had £70 million all to yourself? Probably, you would have considered buying one of the Most Expensive Homes in the U.K. If you love Expensive homes this would be of great value to your money.

Here are some of the lovely homes.

First:

Updown Court

Price: £70 million ($138 million)
Location: Windlesham, Surrey

On the market for over a year, this 103-room home has 58 acres of gardens and woodlands that cover an area bigger than Buckingham Palace. This First Expensive home has a panic room, an indoor squash court, bowling alley, 50-seat cinema, helipads, space for eight limousines and a heated marble driveway. ©Savills/Beauchamp Estates/Hamptons International

Visit a real estate agent in the United Kingdom and ask to buy a £10 million ($20 million) home and you will be told to join a long list of global super-rich who are already lining up for a chance to live there.

That’s because, whether it be Russian billionaires, Arabs buoyed by petroleum dollars or locally bred bankers fueled by seven-figure bonuses, the U.K., and London in particular, is awash with flush buyers looking for an international base they can call home.

“There is tremendous liquidity in the market at present, and property seekers feel safe about their investments here in the U.K. and London in particular,” says Gary Hersham, managing director of Beauchamp Estates, a high-end luxury real estate firm. “It is also globally accessible and centrally positioned for international business.”

This year, £8.8 billion ($17.4 billion) in bonuses were paid to executives in London’s finance and banking industry, according to the Center for Economics and Business Research--a good slice of which is expected to go into luxury housing. Agents and sellers have already upped high-end house prices knowing that there will be increased competition for multimillion dollar estates.

Second rated Most Expensive Home In The U.K.

Toprak Mansions
Price: £50 million ($99 million)
Location: Bishops Avenue, Hampstead, London

Toprak Mansion, built by Turkish entrepreneur Halis Toprak, is in one of the most sought-after addresses in North London. The 28,000-square-foot house has a double staircase and glass elevator. There is a swimming pool with a glass bridge and a Turkish bath for 20. It couldn't have been rated lower than the 2nd Most Expensive home in the UK.

© Glentree Estates
Trophy Homes
The country’s stand-out properties have a unique combination of size, history and character. Many of them are also outfitted with the latest security systems, state-of-the-art technology and leisure facilities necessary for the super-rich family.

Updown Court, for example, the country’s priciest at £70 million ($138 million), boasts 103 rooms on 58 acres of landscaped grounds in Surrey, just southwest of London. A panic room, indoor squash court and 50-seat theater await potential buyers who, should they choose, fly in via helicopter thanks to the property’s multiple helipads.

London’s 19,000-square-foot Old Swan House, one of the largest--and, at £32 million ($63 million)--most expensive in Chelsea, offers a dining room that seats 20, five bedrooms and 11 staff quarters. It was designed by renowned Victorian architect Norman Shaw in 1875 and commands views of the River Thames.

Throw in Britain’s relatively lenient tax regime, which allows the super-rich to legally sidestep some taxation, a prosperous economy, world-class retail and recreation facilities, and top-notch private education, and you’ve got a potent--and pricey--real estate cocktail.

The central London market, in particular, stands out when it comes to buyer desire. Here, one will find super-rich enclaves such as Belgravia, Mayfair and Knightsbridge. This chic area boasts high-end shopping and dining and as a result has separated itself from the rest of Greater London when it comes to attracting the highest prices for what’s becoming increasingly limited property.

“It is the worst supply-demand imbalance I have ever known. There are five to 10 serious buyers for every good £10 million house that comes to the market,” says Tim Wright, partner and head of property at Knight Frank’s South Kensington office.

Wright says international buyers are helping drive up prices--so much so that London’s real estate is now valued at a staggering £724 billion, up 26% from a year ago, according to research by the Halifax Bank.

“The advent of the eastern European nouveau riche and, to a lesser degree, the Indian buyers,” he says, “has dramatically increased the flow of capital into the top-end of the market.”

Third classed:

Old Swan House

Price: £32 million ($63 million)
Location: 17 Chelsea Embankment, London

Old Swan House is one of the largest in Chelsea and was designed by Norman Shaw in 1875. It has commanding views over the River Thames and boasts 16 bedrooms, a 20-person dining room, a swimming pool complex, an elevator and a theater.

© Simon Barnes/Knight Frank

Rural Refuges
London, however, is not the only part of the country getting attention.

“The old idea that international buyers only want to be within 30 miles or three quarters of an hour drive from London has been disproved,” says Crispin Holborow, director of the country department at Savills estate agents. “We have sold property to Russians from one end of the country to the other--Scotland to Cornwall.”

In fact, half of the country’s 10 most expensive homes are in areas such as Surrey, Somerset and Berkshire.

Fourth:

Holland Park Mansion and Holland Park Mews

Price: £28 million ($55 million)
Location: Holland Park, North London, W11

This eight-bedroom, 14,000-square-foot home comes with a two-bedroom, separate mews house. Boasting 14,000 square feet of living space, there is also a gym, wine cellar and basement swimming pool. Looking for some quiet time? Head to the 130-foot garden that abuts Kensington’s Holland Park.

Developer Dream Homes

To keep up with demand, developers are starting to cater directly to the super-rich by building multimillion pound apartments and houses. Some are also buying up existing properties in prime locations intending to knock them down and build state-of-the-art tailored premises with the latest security, leisure amenities such as swimming pools and cinemas, and the latest technology systems.

How will this affect home values? The consensus among agents is that prices at the super high-end of the market will rise by more than 10% in 2007 driven up by a chronic lack of super-luxe property available.

Fifth:

The Compton Castle Estate

Price: £22 million ($43 million)
Location: Compton Pauncefoot, near Wincanton, Somerset

This romantic castle has five cottages, a farm, two lodges and 1,270 acres of land. There’s even a spot to park your helicopter. The house was completed in 1820 and has a vaulted hexagonal entrance hall. There are five reception rooms and 12 bedrooms.

“We are into a new stratosphere when it comes to prices, and there is no shortage of people who want to buy, the value of property in this category could go up by as much as 25%” says Trevor Abrahamsohn, managing director of Glentree Estates who sells high-end property in North London.

So if you’ve got the cash, you’d better buy soon.

Curtesy: Nick Easen; forbes.com