An influx of celebrities such as comedian Sasha Baron Cohen and artist Damien Hirst into the elegant terraces of Regent’s Park has pushed up prices in the area nearly 10% in the past two years, according to two property industry reports.
Hirst recently paid £34 million for a home in Hanover Terrace while Baron Cohen paid £13 million for one in Chester Terrace.
Fashion designers Tom Ford and Stefano Gabbana have also paid millions for properties in the area while developer Christian Candy is creating a £200 million mansion.
Agent Knight Frank said the soaring activity around the royal park has pushed prices up 9% between 2014 and 2016 while fellow agent Aston Chase added that residential values in Regent’s Park now average £2500 to £3000 a square foot against £1000 in 2005.
The 11 terraces, squares and crescents that border the Royal park are considered among the most exclusive addresses in the capital, according to Knight Frank, which is tipping the area to join Chelsea, Belgravia, Kensington and Knightsbridge as a “golden postcode” for super-prime development.