It's tough at the top of the prime central London property market. A series of tax hikes on high-end and investment property has cooled demand, and buying is less attractive amid uncertainty about the market's future stability following the vote for Brexit.
Developers and agents are having to work harder to seal deals. Amazon Property is trying something different with the launch of The Park Crescent by Regent's Park — it's turning half the luxury development into a temporary art gallery in a bid to dazzle and woo potential buyers.
In partnership with art curator House of the Nobleman, Amazon Property will display £100m of art in £100m of property at The Park Crescent, where the price tag on homes ranges from £3.65m to £20m, as part of their launch to market.
Among the artists whose work will be on display are Marc Chagall, Salvador Dali, Damien Hirst and Andy Warhol. Part spectacle, part sales gimmick, the exhibition will run for three weeks from October 3-23 and will coincide with Frieze London, an art festival in the neighbouring park.
The Park Crescent, finished in 1820, was designed by the Georgian architect John Nash, among whose significant body of work is the remodelling of Buckingham Palace and the Royal Pavilion in Brighton. During the late 20th century, many of the crescent's former homes were turned into offices. They were purchased by Amazon Property in 2013 and turned back into homes.
"These newly completed residences at London's only Royal crescent exhibit adroit design, exceptional quality and fine attention," said Chris Lanitis, director at Amazon Property. "The other unique and sought after features of The Park Crescent are the high ceilings and large principal rooms which lend themselves to providing a stunning canvas for displaying important works of art."