Property developer Mount Anvil sets record for Old Street penthouses

Deal: British buyers snapped up the penthouses in Mount Anvil's Eagle tower in the Old Street area

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15 April 2015

One of London’s fast growing property developers has secured a new record residential value a few minutes walk away from Old Street station, netting £11 million from two penthouses.

Mount Anvil sold the top-floor flats in its Eagle and Lexicon developments on City Road, to British buyers.

It said the £1,700 per square foot achieved is a record value for a penthouse in the area.

The strong prices follow a buoyant period for the company, which today announced a record £20 million profit for 2014, up from £15.4 million the previous year.

Sales jumped 33% to £216.2 million, while the group’s property pipeline increased to £1.4 billion accounting for 1,535 new homes.

Deals last year included the purchase of Keybridge House- the brutalist former BT telephone exchange in Vauxhall – which it plans to convert into luxury flats.

Ahead of the general election, Mount Anvil chief executive Killian Hurley said whoever is next in power will need to be radical to ease the housing shortage in the capital.

“We want London to continue to be a major success story. As part of that we think the fruits of its success, including the proceeds from its enhanced stamp duty receipts or potential mansion tax, should be reinvested only into the capital rather than the whole of the UK, and specifically used to boost affordable housing.”

Property developer Mount Anvil sets record for Old Street penthouses

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