Mittal residences are on UK’s most expensive streetSeptember 5th, 2008 - 11:17 am ICT by IANS
London, Sep 5 (IANS) The street on which UK’s wealthiest Indian lives is the country’s most expensive street.In a list of Britain’s costliest streets, the top slot has been grabbed by Kensington Palace Gardens, popularly known as Billionaire’s Row, where Arcelor’s Laxmi Mittal has purchased three houses.
As per a ranking of Britain’s 20 highest value streets, compiled by property website Zoopla, London’s Kensington Palace Gardens is top-ranked with an average house price of about 41.4 million pounds, while Compton Avenue in Hamstead, North London, has come as the distant second with an average price of 7.5 million pounds.
All the 20 costliest streets in Britain are in London.
Last month, Mittal reportedly purchased a 70-million-pound house, formerly the Philippines embassy — for his daughter Vanisha on this street, close after a world record 117-million-pound mansion bought for his son Aditya and the third for the family in the same area. About four years ago, Mittal had purchased his first house on the Billionaire’s Row for 57 million pounds.
The combined value of the three properties owned by Mittal family on this street is said to be valued at about 440 million pounds - nearly 200 million pounds more than the amount paid for these properties over a period of four years.
The street has been home to a number of celebrities even before Mittals came here. Late Princess Diana once lived in this street in central London and its current residents include Chelsea Football Club owner Roman Abramovich.
Kensington Palace Gardens is a private avenue lined with trees and dotted with foreign embassies.
The remaining eight in the top 10 are Courtenay Avenue, Chelsea Square, Manresa Road, Ilchester Place, Spaniards Close, Elm Walk, Essex Villas and Gilston Road.
Others in the top-20 list include Carlyle Square, Kensington Square, Eldon Road, Mulberry Walk, Cottesmore Gardens, Victoria Road, Earls Terrace, Winnington Road, Ingram Avenue and Albert Place ranked last with a price tag of over 4.5 milion pounds.