A Regent’s Park mansion has become London’s first super prime home to sell after Chancellor Rachel Reeves’s autumn Budget, following months of uncertainty before the announcement.
The John Nash-designed property on Chester Terrace sold for £10.95 million within hours of Rachel Reeves’ Budget announcement last week, say selling agents Beauchamp Estates.
Before the Budget, uncertainty around potential tax changes —including the so-called mansion tax and rumoured adjustments to stamp duty and capital gains— had made buyers and sellers cautious.
Knight Frank, for example, reported that speculation about the Budget had caused property values in prime central London to fall by four per cent in the year to October, which was the steepest decline since February 2021.
Yet the Budget, which did not overhaul stamp duty, proved less disruptive than anticipated. “In the end, the bark was worse than the bite,” commented Tim Hyatt, Knight Frank’s head of residential. “Weeks of speculation caused more disruption than the measures introduced are likely to.”
The Budget provided a “soft landing” for the property market, says Beauchamp Estates’ managing director Jeremy Gee.
“The ‘soft landing’ for the London property market following the autumn 2025 Budget announcement triggered this £10.95 million deal, the first super-prime sale in central London following the chancellor’s speech on Budget day,” he says.
The Grade I-listed Chester Terrace house, which has a cinema room, private roof terrace and passenger lift inside, was sold by a UK vendor to another UK buyer, who is relocating from the home counties into central London.
According to Beauchamp Estates, the house had gone under offer before the Budget, but the buyer had requested that the sale be paused until the Budget had been announced. The agency believes that the deal may have unravelled had the outcome been different.
Instead, shortly after the chancellor’s speech, the buyer instructed Beauchamp Estates to progress with the sale, which was finalised the following day.
To the agency, the sale is an encouraging indication of the strength of the capital’s property market.
“The sale of this beautifully presented Nash house in Regent’s Park by Beauchamp Estates underscores the key trend in prime central London’s super-prime market that high quality, turnkey homes continue to attract international buyers,” says Gee.
“Despite a recalibration in the prime central London property market, Beauchamp Estates has continued to deliver results at the very top end of the market with over £150 million of deals in the past few months.
“Beauchamp Estates prime central London market survey data shows that while transaction volumes have decreased, average spend per deal has increased - proof that discerning buyers are focusing on best-in-class assets. This high-profile sale reflects the enduring appeal of London’s most prestigious addresses.”
Overlooking Regent’s Park, the Chester Terrace house was designed by John Nash and built by James Burton in 1825.
During the Home Rule crisis between 1912 and 1914, the house served as a base for meetings and correspondence, including those between Unionist party leader Edward Carson and prime minister Herbert Asquith.
Today, the house has five bedrooms, with the principal suite spanning the entire second floor. There is a grand double reception room downstairs, family cinema and private rooftop garden, with a passenger lift connecting all five floors.
“The house retains all its fine period features, alongside beautiful interiors, and is presented in immaculate turn-key condition, complete with a private roof terrace with spectacular views over Regent’s Park,” says Rosy Khalastchy at Beauchamp Estates.
“We are delighted to have sold this magnificent house in Regent’s Park to a UK buyer.”
© The Standard Ltd