Introducing Britain’s priciest new build
A sprawling eight-bedroom property in North London has been hailed as the country’s most expensive new-build home.
The £22 million Fairways mansion is situated on the illustrious Bishops Avenue, popularly known as ‘Billionaires’ Row’.
Its eventual buyer will enjoy a private pool and leisure complex, games, cinema and entertainment rooms, jaw-dropping multi-tiered atrium, 16-seater dining room and enough garage space for four cars. The expansive garden backs onto Highgate golf course, while there is also a guesthouse.
At 17,000 square feet, it is certainly not short on space, with the master bedroom alone thought to be as large as the average one-bedroom flat. There is reportedly a dance floor in one of the four entertainment centres that can comfortably hold up to 200 people.
Its estate agent, Trevor Abrahmsohn, describes the Fairways as ideal for someone “looking for a family home ready for occupation”.
The Bishops Avenue is home to all manner of famous faces, from pop stars to royalty, and properties have been known to sell for as much as £65 million. Its relatively tranquil setting belies the fact that it is only a short distance from the hustle and bustle of central London.
What about Stamp Duty?
As with any property bought for over £2 million, Fairways will incur the top bracket 7% in Stamp Duty Land Tax (SDLT), which in this case amounts to around £1.5 million.
However, in this situation Fiducia would be able to help the buyer find a more tax-efficient way of completing their purchase, pursuing solutions that would result in a much lower SDLT obligation.
If you are about to buy a property and would like to find out how to potentially save money on Stamp Duty, call Fiducia today on 01625 599 200 to discover how we can assist you with tax relief options.