Mayfair estate agent Wetherell is launching what it claims to be London’s most expensive student accommodation right on Park Lane.
There are more than 100,000 foreign students in London and while not all are wealthy, the city acts as a magnet for rich foreigners looking for a good education. Wealthy Chinese, Malaysian, and Russian students flock to the capital to study.
Wetherall has sent out details of six luxury flats in the refurbished Fountain House block to a database of international students looking for accommodation in London and 80% of inquiries so far have been from overseas students.
Check out the high-end student digs below.
This is Fountain House. It was originally built in 1938 and was designed by Sir Giles Gilbert Scott, the man who also designed Britain's iconic red telephone box.
The block takes its name from Hyde Park's 'Fountain of Joy', which you can see from the apartments. Not a bad view.
Criterion Capital recently refurbished part of the block, designing five luxury 2-bedroom apartments and a 3-bedroom flat.
The flats range from 1,600 sq ft. to over 2,000 sq ft. in size. Until recently, most of the building was used as offices.
The 2-bedroom apartments rent for £2,250 per week, or £108,000 per year. The average London salary is only £27,000.
Despite the high rents, estate agent Wetherell is marketing the flats to international students. The agency has sent details of the six apartments to a database of foreign students.
80% of inquiries have been from overseas students. Wetherell says many rich foreign parents prefer the safety of a private rental over student halls.
The 3-bed apartment has already been let to a 19-year-old fashion student from North America. That's £21,000 a month, remember.
Some of the perks of the apartments include stone flooring, walk-in wardrobes, stone worktops in the kitchen, and a free-standing bath.
Alexander James Interior Design has worked on each of the apartments. The agency's bread and butter work is luxury apartments, Sunseeker yachts, and country homes.
The building also has a pillared main entrance foyer with 16 ft. high ceiling, a manned hotel-style concierge desk, and a 24-hour porter service.
Although it is not exclusively student housing, Wetherell is claiming Fountain House could become London's most expensive student accommodation if all the flats end up being rented to foreign students.
Business Insider Emails & Alerts
Site highlights each day to your inbox.