Fancy being able to call The Queen your neighbour while owning a luxury penthouse for a fraction of the cost? Now’s your chance.
A three-bedroom property, located in the capital’s iconic Queen Street in Mayfair, has hit the market complete with its own private roof terrace for just a fraction of its multi-million-pound price tag.
Spanning two floors of the period building, the light and airy space oozes luxury with a carefully-designed, elegant interior and cool neutral palette.
Both Piccadilly Circus and Hyde Park are just a 15-minute walk away, and Buckingham Palace just a short five-minute drive.
With gourmet restaurants, high-end fashion and the nightlife of Berkeley Square on your doorstep, the chance to own this £7.3 million property for just over one million pounds sounds too good to be true.
So here’s the catch.
You’ll be co-owning the Georgian penthouse with up to eight other people.
Pacaso, founded in the US in October 2020, buys properties, refurbishes them and turns them into limited liability companies.
It then sells them in one-eighth increments, up to half a property. So, you’ll always be sharing with at least one other owner.
Owners can access the homes for a certain number of days per year – 44 days for a one-eighth share.
A one-eighth share costs £1,084,000 with a minimum 30 per cent deposit of £325,200 required.
Pacaso CEO and Co-Founder Austin Allison said: “Co-owning a home is a more responsible way to own a holiday home as it better utilises existing property on the market.
“We are boosting sustainability in the second home real estate market by now helping families purchase and enjoy their homes that would otherwise be sitting empty a majority of the year.
“With Pacaso, homes have a nearly 90% occupancy rate.”
