October 10, 2016
Amazon Property inaugurated its most recent real estate development project overlooking Regent’s Park, London with support from fine works of art valued at £100 million, or $124 million at current exchange rates.
Park Crescent, London’s only royal crescent, was purchased in 2013 by Amazon Property, which has completed its redevelopment plans of the building that had been used as office space for most of the 20th century. To formally announce the renovated and restored Park Crescent, Amazon Property staged a property event that brought together London’s new luxury addresses and Post-War and Contemporary art.
Designed by John Nash between 1812 and 1820, Park Crescent was intended as luxurious residences, which counted Napoleon Bonaparte’s family, members of the De Beers dynasty and international ambassadors among its tenants. Amazon Property has funded a £200 million, or $248 million, redevelopment project that restored the 19th century building to its former luxury.
Penned as “£100 million worth of homes matched by £100 million worth of artwork,” Amazon Property worked with art curator House of the Nobleman to put together a memorable art exhibition during the annual art fair London Frieze Oct. 6-9.
Together, Amazon Property and House of the Nobleman curated works of art valued to the approximate total value of the six Park Crescent residences. The units in Park Crescent are each worth £3.95 million to upwards of £20 million, or $4.91 million and $24.8 million, respectively.
David Bradley artwork on display in the Park Crescent
Each unit was given a particular theme with artwork and home interior decor made to match. For example, a four-bedroom residence had its interiors designed by 1508 London and includes paintings by Alexander Calder, Marc Chagall, Joan Miro and Salvador Dali.
Other homes in the building have been curated with abstract or Modern British artists, while another is dedicated to the work of young British artists such as Anthony Caro and Damien Hirst. The latter unit was interior-designed by DH Liberty.
In addition, DH Liberty, with Taylor Howes, decorated a pair of duplexes in Park Crescent that will host the “What’s Up” showcase, curated by Lawrence Van Hagen of LVH. The showcase will include abstracts and political op-art, as well as a special display by LVH.
Alexander Calder artwork on display at the Park Crescent
“The main launch of the Park Crescent will showcase luxury property and artwork by world-renowned and young up-and-coming artists,” said Chris Lanitis, director of Amazon Property in a statement. “Visitors to the launch will have the opportunity to view previously unseen dressed residences and view beautiful works of art in our ‘mini-Frieze’ showcase created by our art curator House of the Nobleman.
“These newly completed residences at London’s only royal crescent exhibit adroit design, exceptional quality and fine attention,” he said. “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.”
After a number of events held at Park Crescent during the Oct. 6-9 London Frieze, the exhibition will remain up throughout the residences, by invitation and appointment only, through Oct. 23.
Park Crescent's private interior garden
The event is a sure way for its developers to glean interest among those looking to purchase residential property in London.
Hope is on the horizon for London’s real estate market following Brexit, with a 22.1 percent rise in the number of new prospective buyers, according to real estate consultancy Knight Frank.
Knight Frank's Prime Central London Sales Index for August revealed the increase in interest since the European Union referendum compared to 2015. Buyers’ interests in the area are growing despite the dramatization of Brexit, with users viewing listings 20.8 percent more since last year (see story).