London luxury property: $11.42m apartment in Covent Garden's oldest building

The flat offers views across the world-renowned piazza and the best seat in the house every night

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London is awash with spectacular residential properties – and with the UAE now on the UK's amber list for travel, the capital's premium property brokers are once more ready to show off their luxurious wares.

The National's London luxury property series serves to whet the appetite, and this month's offering is a real "piazza de resistance" in the heart of Covent Garden.

Featured property

43 King Street, Covent Garden, London, WC2E 8JY. Approximate market value: £8.25 million ($11.42m).

The key details

The restored two-bedroom flat in Covent Garden's oldest building occupies the entire first floor.

Period features in the central reception room include Baroque plaster decoration, bolection mouldings, panelling and cornice detailing across the walls and ceiling.

King Street provides an enviable panorama of Covent Garden piazza. Photo: Savills

The spacious kitchen / dining room comes with fully integrated appliances and a feature fireplace, and there is a further reception room / study also with a feature fireplace.

The principal bedroom suite is at the back of the apartment and so away from the piazza's hubbub. It includes a dressing area with fitted wardrobes and ensuite bathroom with a bath and separate shower.

There is a further generous double bedroom with ensuite bathroom, and a separate guest cloakroom.

Lofty ceiling heights in excess of four metres provide a sense of space, and seven grand sash windows across the width of the building's facade bathe the flat in natural light.

The windows also provide south-facing views over the beautiful Covent Garden piazza, taking in St Paul’s church which dates back to 1633.

What's the story

Built in 1716, 43 King Street is Covent Garden’s oldest and arguably most important building.

The handsome Grade II-listed house was built by the Baroque architect Thomas Archer, and was originally named Russell House after its first owner Lord Russell, First Lord of the Admiralty.

Covent Garden Piazza, as it would have looked when King Street was first built. Getty Images

The fully restored property is perfectly positioned for the area's upmarket boutiques, restaurants, theatres, museums and hotels.

Covent Garden itself has benefitted from significant investment and development in recent years, and is now one of London's finest and most picturesque retail and restaurant neighbourhoods.

What the broker says

What makes this property stand out from the crowd?

It's a very well protected and preserved apartment given its position in the oldest building in Covent Garden.

The first floor in every period building is absolutely the best because you've got the floor-to-ceiling windows, you've got the high ceilings and you've got the intricate detailing of period features.

It is arguably the best apartment in Covent Garden and is the most unbelievable entertaining space. Everyone who has looked round it says it is just magnificent.

The light and spacious apartment is perfect for entertaining. Photo: Savills
Are there many similar apartments in London?

Apartments like this don't come up very often. We sold a similar property in St James's earlier this year and the buyers actually bought it unseen, such was the rarity of its period features.

We think the same thing could happen with this one. It's one of the most special first floor apartments we've had on our books.

Who would the property most suit?

Anyone who wants to buy a very beautiful and very special piece of history that works both as a living and entertaining space.

Those with an interest in arts and culture would also be ideally suited.

You've got the the British Transport Museum. You've got all the shops and all the street entertainers. And, of course, you are right on the doorstep of the Royal Opera House − not to mention the multitude of theatres and world-class restaurants London's West End has to offer.

Not many people can step out of their front door and into the Royal Opera House. Getty Images

Why is now a good time to buy in London?

Pricing in central London is still 20 cent below the peak of 2014 but all areas in London have recorded price growth in every quarter this year.

Savills research team forecasts 2 per cent growth this year for prime central London and 8 per cent growth next year in terms of pricing. So in terms of timing, now's a really good time to buy.

Claire Reynolds, co-head of PCL and head of Mayfair at Savills
Updated: September 14, 2021, 7:30 AM