World’s most expensive rental costs £80,000 a week

November 18, 2011 | by | 1 Comment

A wealthy Londoner is cashing in on next summer’s Olympics by renting out their penthouse for a world record £80,000-A-WEEK.

World's most expensive rental costs £80,000 a week

Thousands of tourists will be flooding hotel rooms across the capital in hot anticipation of the games which start in July.

Insiders have now reported an ”unprecedented” demand from billionaires looking for a short-term ‘super prime’ property – prompting rental prices to soar to extraordinary levels.

Harrods Estates, which manages a host of mansions in the most affluent areas of London, has just taken three luxurious properties onto its books for the Olympics, ranging from £40,000 to £80,000 per week.

The priciest is Wellington Court – a Knightsbridge penthouse which is now the most expensive rental property ever marketed, comfortably beating the £55,000 a week paid by a Middle-Eastern billionaire nearby.

It comes with six bedrooms, a library, screening room, gym, hydrotherapy spa, two kitchens and a number of terraces.

If a tenant was to rent the penthouse over a 12 month period it would cost £4.16 million.

Each hour costs £476 – the same as a tenant would pay for a double room in Wimbledon for a month.

World's most expensive rental costs £80,000 a week

The Olympics also takes place in the middle of ‘The Season’, when millionaires from the Middle East leave them home country for cooler surroundings – with the oil rich fighting it out amongst sports fans for the best properties.

It’s expected the demand will soar even further as the games get closer – with experts not ruling out the world’s first £100,000 A WEEK rental property.

Shirley Humphrey, sales and marketing director at Harrods Estates, said: ”We have witnessed a surge in demand for short term rentals during the four week period of the Olympics.

”The demand itself is not surprising, but baring in mind the global economic situation, the scale of the demand is encouraging and genuinely refreshing.

World's most expensive rental costs £80,000 a week

”We anticipate that more luxury properties will become available at a later date at an ever higher premium.”

A six-bedroom property in Wilton Place which comes with access to Wilton Crescent Gardens and the tennis courts in Belgrave Square is on the market for £65,000 a week.

But if £65,000 and £80,000 is too much, Harrods is also offering a four-bedroom family home on Walton Place, Knightsbridge, for a mere £40,000 per week.

Shirley Humphrey added: ”Many home owners in Central London have taken the decision to vacate the city during the bonanza, reaping the potential benefits to be realised in the short term rental market.”

Category: News

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  1. Renting is an contract where a payment is made for the short-term use of a good, service or residence run by another. A total lease is when the actuel will pay a smooth lease amount and the property owner will pay for all residence expenses consistently received by the possession from landowners. This system is used in case of units to purses and jewelry

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