An extraordinary penthouse with stunning panoramic views of London is now available for £48 million. This brand-new duplex penthouse, located at 1 Five Fields Square in the heart of Belgravia, occupies the top two floors of a seven-story building. With 7,000 square feet of indoor living space and an impressive 3,000 square feet of outdoor terraces, the property offers over 10,000 square feet of total usable area. Its grand scale and prime location make it a standout among London's luxury real estate offerings.
This penthouse is part of the larger Chelsea Barracks development, a project spearheaded by Qatari Diar. As the real estate arm of Qatar’s sovereign wealth fund, Qatari Diar has ensured that the property is fully furnished and move-in ready. Every detail, including custom-made furniture and high-quality bed linens, has been meticulously selected. The home also features exclusive amenities, such as a versatile indoor court that can be easily converted from tennis to basketball or pickleball.
From Barracks to Belgravia
The location of the penthouse was once a historic 19th-century military barracks, which served as a base for British Army regiments. Over the past decade, the site has been transformed into an elite residential neighborhood. The development masterplan balances modern luxury with elements that respect Belgravia’s rich history. Expansive green spaces and carefully designed public areas ensure the project complements the area’s reputation for exclusivity and sophistication.
The transformation of the site has been a long and intricate process. Initially, modernist architectural designs faced public pushback and were eventually revised. A new plan was adopted that blended with the traditional aesthetics of Belgravia. Construction of the latest tower was recently completed, and the penthouse now represents the most recent stage in this extensive redevelopment. The site has gradually introduced luxury apartments, townhouses, and public spaces while retaining the site's historical significance.
The new tower has already seen a notable interest from buyers. As of now, 25% of its 28 apartments have been sold since sales began last year. The largest group of purchasers is made up of British buyers, followed by buyers from Turkey. This indicates the project's strong international appeal. The penthouse listing occurs during a period of renewed momentum in London’s ultra-prime property market. Despite challenges like increased borrowing costs and tax changes affecting overseas buyers, demand for luxury homes remains strong.
The development spans 12.8 acres, strategically situated at the intersection of Belgravia, Chelsea, and Pimlico. These areas form one of the most prestigious districts in London. The project includes a combination of private luxury residences, elegant townhouses, and well-maintained green spaces. Together, these elements have helped maintain the area's distinguished reputation. The penthouse serves as a testament to how a former military site has been reimagined into a world-class residential destination.