The independent London newspaper

High living available in £55m penthouse

05 January, 2018

IT was once home to a celebrated bar and restaurant known as Paramount, and there was much regret when Centre Point developers Almacantar won planning permission in 2013 to turn the top floor of the 1960s listed building into a private home as part of their redevelopment of the one-time office block at the junction of New Oxford Street and Tottenham Court Road.

As work continues at a fair lick to convert the building into luxury housing, Diary has learned that around 50 per cent of the apartments have now sold, but the Duplex Penthouse, where Paramount was once situated, is still up for grabs. Diary heard it was on the market for around £55million back in 2015 for its five bedrooms. Its price today is similar.

Reports in the housing market trade press say the sales on other floors so far are around 50 per cent from UK-based buyers, and the rest overseas.

A more “modest” home, a one-bedroom flat for example, will set you back £2million while the three-bedroom homes come in at about £8million.

For those of us who can’t quite find that sort of change, and mourn the fact we can no longer go to parties on the top floor, the cleaned-up façade of this famous listed building is a silver lining: 50 years of smog has been scraped off and it looks the Modernist jewel in the West End that architect Richard Seifert envisaged all those decades ago.


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