While Phones 4U founder John Caudwell is one of the U.K.’s richest businessmen it is his partner Claire Johnson who owns what many believe to be the U.K.’s most expensive rental property. The six-storey Mayfair townhouse is available for a staggering £780,000 a year and if that’s not enough, bills are not included!
This is an area of the world which has seen enormous growth in property prices and while many of the local UK markets are performing well, none of them get anywhere near the London prime property market. It has been placed upon the rental market at a staggering £15,000 a week which equates to £65,000 per month with household bills on top. So what makes this rental property so attractive? Why does the owner believe it can yield such an attractive income?
What makes this Mayfair townhouse so special?
Well, where do we start? This is a six-storey home spread across more than 8000 ft.² boasting four receptions, family kitchen, gym, courtyard garden and five ensuite bedrooms. As you might expect, the furniture is the best that money can buy, the layout is perfect and when you bear in mind that even the silk wallpaper is hand-painted you might begin to get the message. You will also notice the array of antique crystal chandeliers throughout this enormous property.
Quote from PropertyForum.com : “The Lake Palace Hotel is situated on a natural foundation of rocks in Lake Pichola, Udaipur, India. It was originally known as Jag Niwas and was built in 1743-1746. It has been named one of the most romantic hotels in the world….”
Some more interesting facts about this townhouse asset include the fact that the master bedroom alone is 1.5 times the size of the average UK home. There is off-street parking for 2 private vehicles and accommodation for the array of staff which you would probably need if you are paying £700,000 per annum – but who pays the staff wages?
It is sometimes easy to forget that John Caldwell sold his Phones 4U business for a whopping £1.5 billion back in 2006 and while many people retire to tax havens to enjoy their later years, he is renowned as the U.K.’s largest income tax payer. It is estimated that he has paid in excess of £200 million to the Treasury over the last five years which is often overlooked when media outlets comment upon his enormous wealth.
This is not the only London luxury property connected with the high-profile businessmen as he owns a number across the capital and indeed is looking to link two of them together via a 14,000 ft.² basement. These are ambitious plans, this is a heavy investment in London premium property but when you consider the wealth behind the man himself perhaps this £13.5 million property is chicken feed to him?
While John Caldwell often attracted unhelpful and unwelcome headlines in his business career it is testimony to the character of the man that he has maintained his domicile in UK and paid over £200 million in income tax over the last five years. When you compare this to the overseas investors now pushing London premium property prices to record highs, while enjoying beneficial tax status, perhaps the former second-hand car dealer from Stoke-on-Trent deserves a bit more credit than he receives?