Property for Sale in London's Most Expensive Neighbourhood

A home in the U.K.’s most expensive neighbourhood is being offered for more than £100 million according to the broker handling the sale.

The neo-classical house is located at 6 Palace Green in Kensington, one of London’s few private roads where no passing traffic can enter, Aylesford International Managing Director Louise Hewlett said. The 16,000-square-foot (1,486-square-meter) home is owned by Tamzen Ltd., a closely held company incorporated in the British Virgin Islands, according to the U.K. Land Registry.

“This is considered the best address in Europe, not just London,” Hewlett said by e-mail. While declining to disclose the value of the property or its owner, she said its price would exceed 100 million pounds.

Palace Green is on the southern section of Kensington Palace Gardens, one of two London streets known as Billionaires Row; the other is Bishops Avenue in Hampstead. Luxury-home prices in Kensington have gained about 110 percent since 2004, said Grainne Gilmore, head of U.K. residential research at Knight Frank LLP.