Think penthouses and the mind journeys to grand, sprawling spaces, breathtaking sights, and nothing short of perfection in finishing details. They are the undisputed titans atop the lofty edifices of new developments, causing sophisticated buyers to break the bank for that unmatchable experience of high living.

This is not just speculation - hard facts back it up. A 2021 study by Knight Frank sifted through the charms of penthouse living in five top-tier global cities and found that premium penthouse apartments could steal a solid 35% per square foot (psf) premium relative to the average units in the same development.

Look at the crème de la crème of the luxury residential markets - Hong Kong, London, New York, Sydney, and Singapore - and you see some startling revelations. Penthouses, it turns out, are, on average, 129% larger than the run-of-the-mill unit in the same development, and can coax out a premium of 35% per square foot (psf) when compared to their development average. But it's not a one-size-fits-all deal. Local dynamics like privacy, exclusivity, and even internal layout can tweak premiums by a solid 50% across each city.

London, the regal old lady, commands the second-highest penthouse premium, with an average uplift of 43%, while Hong Kong, the vibrant dragon, wins the race with a smashing 59%. Singapore penthouses, on the other hand, might command the smallest premium, at a humble 7%, but they make up for it by being nearly thrice the size of their counterparts.

The past ten years have witnessed a surge of ultra-prime developments reshaping the prime central London property landscape, with projects such as Southbank Place putting forth a stunning lineup of new apartments and penthouses. This dramatic metamorphosis has put London on the global map as the city with the second-highest penthouse premium, with an average surge of 43%.

Credit must also go to developers like Braeburn Estates, a powerhouse joint venture between Qatari Diar and Canary Wharf Group, who have been relentless in their pursuit of luxury, whether it's expansive rooms, soaring ceiling heights, or obsessing over minute details to stand apart and pull in the ultra-wealthy buyers.

In 2023, Southbank Place will roll out its final units - three penthouses and a three-bedroom sub-penthouse, boasting the most panoramic views of London - the London Eye, River Thames, Houses of Parliament, extending to St. Paul's Cathedral, the City of London, and The Shard.

Up for a cool £17 million, the first penthouse is a unique, river-facing, 3,862 sq ft masterpiece crowning the entire 10th floor of the second Belvedere Gardens tower. Featuring bespoke interiors, adorned with rare artwork and custom-made furniture, the penthouse comes with two master bedroom suites with walk-in dressing rooms, two guest bedrooms, two kitchens, an open-plan living/dining area, two guest bathrooms, a sprawling terrace, and a private balcony.

Southbank Place residents also enjoy exclusive access to a 17,000 sq ft private health club in the basement of the wider development. Designed by Goddard Littlefair and managed by specialists Educated Body, this wellness space houses a 25-meter swimming pool, separate steam and sauna rooms for him and her, an expansive gymnasium featuring specialized workout rooms, relaxation pods, treatment rooms, and even a hair and beauty studio.

Priya Black, Department Head of the West End New Homes team at Knight Frank adds: “Since launching to market, Southbank Place has been one of the fastest selling schemes in prime central London. We look forward to the release of the final penthouses which will provide a unique offering, with large riverside, lateral homes benefitting from breath-taking views over the city’s most famous landmarks.”

Richard Oakes, Chief Sales & Marketing Officer at Qatari Diar, said: “Southbank Place has been one of London’s most successful developments in recent history, with close to 700 apartments sold, including some magnificent award-winning sub-penthouses, since the project first launched. All that remains now is an exclusive collection of incredible penthouses that will appeal to those that want a statement address in London.”

Brian De’ath, Managing Director of Residential Sales at Southbank Place, adds: “Penthouses always command a premium and the buyer pool is smaller than typical apartments, so we are working with some of the world’s best designers to create spaces that will provide a one-of-a-kind opportunity to live at the pinnacle of this spectacular development in the heart of London.”

See more photos on the Belvedere Gardens and Southbank Place development profiles.

For more information or to enquire about the Penthouse Collection at Southbank Place call 0207 001 3600.