Source says Heron International Ltd wants GBP 18 million for penthouse

By Nicel Jane Avellana

Dec 05, 2013 05:30 AM EST

A source told Bloomberg that Heron International Ltd will be selling a penthouse located in its London residential tower for GBP 18 million or USD 30 million. Information from its website said Heron International is one of the leading property investment and development firms in Europe. It has developed over 160 commercial buildings in 9 global cities and have developed, invested and managed various properties in the UK and Europe.

At that price tag, broker Savills told Bloomberg that a sale would be a new record for the district. The person, who spoke on the condition of anonymity because the information is confidential, said the property located at the 36-storey building called the Heron will be put on sale starting next month. The penthouse has an area of 6,000 square feet and is one of the penthouses that will be sold.

Heron International Commercial Director Lisa Ronson told Bloomberg through email that the minimum price of the smaller penthouse is GBP 12 million. She did not reveal the price for the bigger apartment, which boasts of 4 bedrooms, retractable roof and gym and screening room space.

Citing a November 24 report from consulting firm EC Harris, Bloomberg reported that luxury home developers intend to construct over 20,000 properties in London in the next ten years. Savills said that in the city center, the prices will gain an estimated 23% through 2018.

In October, global alternative asset management firm Carlyle Group was granted approval by the local government to construct a tower that is 558 feet tall on the south bank of the River Thames. The report also cited the plans of Ryan Corporation UK Ltd to construct a residential tower measuring 794 feet in the financial district of the Canary Wharf. The residential building is said to be the highest building in London.

Brokers for the Heron are Alan Selby & Partners, CBRE Group Inc and Jones Lang LaSalle Inc, the report said.

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