£65m St John's Wood super-mansion has price cut by half

If you thought the only way is up when it comes to London property prices, think again.

Why?

A £65m home in St John’s Wood has seen its price slashed by half.

The 11-bedroom home, which is described as a property built to the “highest imaginable specification”, comes with a games room with a snooker table, cinema room, temperature-controlled wine cellar, gym and sauna, plunge pool and a hairdressing salon.

At 21,600sq/ft, it is more than 20 times the size of the average new UK home.

Henry Pryor, a buying agent, warned that London’s multi-million pound properties are seeing asking prices slashed.

“The market has softened in the past year and people can’t be so cavalier with their asking prices. It can punish those who are over-ambitious,” he told the London Evening Standard.

“Canny buyers now appreciate that you no longer have to pay ticket price and the queue of potential buyers for these mega-sales has reduced to a trickle.”

• Follow me @LondonlovesBiz and @shrutitripathi6 
• Try our free newsletter

Now Read: