The wealthy residents of north London’s Billionaire’s Row may soon get annoyed by the gaggle of giddy teenage girls that will no doubt descend onto the elite street.
That’s because Justin Bieber has just rented a £108,000-a-month (US$132,000-a-month) mansion on The Bishops Avenue—dubbed Billionaire’s Row—in the Hampstead neighborhood, according to the Daily Mail.
And he could be there for some time as the “Sorry” singer is reportedly keen to split his time between London and his California home.
he property is perfect for Mr. Bieber, 22, to entertain his celebrity friends, as it’s set on 2.5 acres of land and boasts six reception rooms, a tennis court, indoor and outdoor swimming pools, home cinema, steam room with sauna, a wine cellar and a driveway large enough for 50 cars. Mr. Bieber will also feel safe as the property has a panic room.
The 24,000-square-foot, 15-bedroom home, which was built by a British sugar tycoon in 1910 and changed hands several times since, was sold to an anonymous buyer for £25 million (US$30.8 million) in 2015, a quarter of its original asking price, who decided to rent out the property. Two-months rent would be enough to buy an average home in the U.K.
More wealthy homeowners in London are opting to rent out their homes on the back of a double dose of sales tax hikes and uncertainty over the Brexit, according to a recent report by Knight Frank, the global real estate consultancy.
“With the market slowing down as a result of stamp duty increases and other tax changes, the turnover of homes has dropped by around 60% so more people are considering rentals. We’ve done about half a dozen rentals in the area recently which is extraordinary,” Trevor Abrahmsohn, managing director at Glentree International, who sells homes on Bishops Avenue, told Mansion Global.