Property valuation - Flat 35, Fountain House, Park Street, London, City Of Westminster, W1K 7HG (2024)

Flat

1970 sq ft

For sale

Sold Prices

Sales Graph

What To Offer?

1499%

PROPERTY VALUATION

£15,991,000

Price change: +£14,991,000

Since last sold: June 1997

VALUATION RANGE

£15.43M - £16.55M

LOW OFFER | HIGH OFFER

Confidence: Medium

Good
Condition

Reasonable
Condition

Poor
Condition

Property summary Last updated: 05/03/2024

Last updated: 05/03/2024

Flat 35, Fountain House is a 4th floor 3 bedroom flat spread over 1,970 square feet, making it one of the bigger properties here - it is ranked as the 2nd most expensive property* in W1K 7HG, with a valuation of £15,991,000.

Since it last sold in June 1997 for £1,000,000, its value has increased by £14,991,000.

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Essential buying details

If no refurbishment work has been carried out since it was last purchased, we expect the property to sell for between £15.43M and £16.55M; with the most likely sale price being £15,991,000.
Built between 1900 and 1929, the property has sold once over the last 29 years.
This property only has one recorded sale since 1995 so it doesn't have a historic investment return or rating yet.
4 flats have sold at an average price of £4,175,000 over the last 12 months (in the area coverring W1K 7).

Sale history

The most paid for a property in Park Street, W1K 7HG was £7,500,000 in 2012.

Date	Price	Change
Today's value*	£15,991,000	1,499.1%
12 Jun 1997	£1,000,000	-

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1499%

This property has increased in price by 1499% since it last sold 26 years ago

184%

This property is 184% more expensive than average in Park Street, W1K 7HG

SOLD PROPERTY PRICES - W1K 7HG

Nov 2022 Flat 4, Fountain House, Park Street Price paid £2.05M Aug 2022 Flat 67, Fountain House, Park Street Price paid £3.41M Jun 2021 Flat 65, Fountain House, Park Street Price paid £4.55M Mar 2021 Flat 37, Fountain House, Park Street Price paid £2.55M Jan 2020 Flat 67, Fountain House, Park Street Price paid £2.15M Jun 2019 Flat 56, Fountain House, Park Street Price paid £2.15M Jun 2018 Flat 3, Fountain House, Park Street Price paid £1.8M Oct 2017 Flat 36, Fountain House, Park Street Price paid £2.3M Sep 2015 Flat 47, Fountain House, Park Street Price paid £2.88M Oct 2012 Flat 44, Fountain House, Park Street Price paid £7.5M May 2008 Flat 26, Fountain House, Park Street Price paid £1.2M Apr 2004 Flat 46, Fountain House, Park Street Price paid £750k Jul 2001 Flat 17, Fountain House, Park Street Price paid £585k Mar 2000 Flat 17, Fountain House, Park Street Price paid £565k Oct 1999 Flat 3, Fountain House, Park Street Price paid £510k Sep 1999 Flat 26, Fountain House, Park Street Price paid £225k Sep 1999 Flat 17, Fountain House, Park Street Price paid £338k May 1998 Flat 77, Fountain House, Park Street Price paid £10k Feb 1998 Flat 57, Fountain House, Park Street Price paid £10k Feb 1998 Flat 3, Fountain House, Park Street Price paid £400k Dec 1997 Flat 16, Fountain House, Park Street Price paid £415k Jun 1997 Flat 35, Fountain House, Park Street Price paid £1M Sep 1995 Flat 25, Fountain House, Park Street Price paid £1.03M Jul 1995 Flat 46, Fountain House, Park Street Price paid £350k Feb 1995 Flat 47, Fountain House, Park Street Price paid £400k

Flat 35, Fountain House, Park Street is moderately bigger than the average property in this postcode.

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Valuation details

The most likely sale price is £15,991,000 but at the lower end we think it should fetch a minimum of £15,431,000.

On a cost per square foot basis, this property is valued at 134% more than the other houses in this postcode.

A higher cost per square foot can indicate that the property is in a better condition than the other properties or that it has a bigger garden (for more information see our valuation review) of this property.

If the property was previously purchased in a bad state of repair, making home improvements could increase its sale price to £31,102,000.

Note: If the lease has less than 82 years remaining, the property valuation will start to drop rapidly (due to the cost of the lease renewal increasing significantly at this point).

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What condition is the property in?

At a sale price of £15.99M, we expect this property to be in a substantially better condition than the neighbouring properties.
This property has a higher cost per square foot than other properties in the area, which is why we think it is more likely to be in good condition. This can be caused by it having recently been refurbished to a high standard although particularly pretty properties can also sell for a premium.
At a valuation of £15.99M it has a cost per square foot of £8,117, which is substantially more than the average for the area.The average cost per square foot for property here is £3,465.

Cost per square foot valuation

If we valued this property using the average cost per square foot (CPSF) - it would be worth £6.83M. For it to sell for this amount, we would expect it to be in a similar state decoratively to the average property here and also have a similar sized plot of land.
Note: Properties that are in a better condition will sell for more money per square foot.

What does it cost to live here?

Prices start at:

£89k

Average house price:

£5.63M

Most expensive:

£17.78M

Recent sales in the surrounding roads

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Property details
Local market
Regional prices

Property details

Most likely sale price: £15,991,000
- Offers likely to be accepted between £15,431,000 and £16,551,000.
- Cost per squre foot: £8,118 (at a valuation of £15,991,000).
Property energy rating: 67
- Which is similar to the average for this postcode.
- A score of 100 is the best energy rating a property can be given.
Compare this to other properties in W1K 7HG

The local market - W1K 7HG

The average property price for this postcode is £5,631,000
- Prices here range from £89,000 to £17,779,000.
- Expect to pay £2,945 to £3,984 per square foot for property in W1K 7HG.
6 properties have sold in W1K 7HG over the last 5 years.
- The latest sale in W1K 7HG went for £2.05M on 28 Nov 2022.
Park Street has 37 postcodes associated with it.
- The average price of property in Park Street is £6,723,270
- Property in Park Street typically sells for between £2,998 and £4,056 per square foot.
- Properties in Park Street are currently valued at an average cost per square foot of £3,527.

The property market across W1K 7

The average price paid for a flat in the area W1K 7 over the past year is £4.18M.
Flats have been selling for £2,464 per square foot across W1K 7.
4 flats have sold over the last 12 months (in the area coverring W1K 7).

What does it cost to live in this area?

This property has increased in price by £14,991,000 since it last sold in 1997 - this equates to a 10.9% rise each year.

If the property has been refurbished or extended since it was last purchased, tell us about any home improvements to get a revised valuation.

What are some of the other properties worth?

The cheapest property here in W1K 7HG is valued at £89k.

At the top end, the most expensive property is worth £17.78M - this postcode has an average valuation of £5.63M.

	Property	Valuation
	Flat 4, Fountain House 1109 sq.ft.	£1,728,000 (-16% since 2022)
	Flat 67, Fountain House 2 bed \| 1109 sq. ft.	£2,737,000 (-20% since 2022)
	Flat 56, Fountain House 1109 sq.ft.	£2,827,000(+31% since 2019)
	Flat 37, Fountain House 1130 sq.ft.	£3,835,000(+50% since 2021)
	Flat 65, Fountain House 2185 sq.ft.	£7,249,000(+59% since 2021)

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