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In Whitehall, a heritage address courts Asia's most exacting buyers
Ultra-wealthy buyers from Asia, whether property magnates, tech entrepreneurs or family offices, have long been active participants in London's prime residential market. But few opportunities, even for this discerning cohort of buyers, match the rarity of The OWO Residences by Raffles.
The central courtyard at The OWO boasts one of the nine restaurants at The OWO, which both hotel guests and residents can enjoy.
'There will only ever be one Old War Office, and only one Raffles London. No other scheme compares in terms of build quality, beauty and location,' says Mark Elliott, head of Savills International Realty in Hong Kong, on the OWO's appeal.
Housed within the former Old War Office on Whitehall, once the preserve of Churchill and T. E. Lawrence, the scheme offers 85 bespoke residences next to a five-star Raffles hotel. Its appeal lies not only in its prime location and architectural grandeur but in the convergence of imperial heritage, branded service and enduring value.'There will only ever be one Old War Office, and only one Raffles London,' says Mark Elliott, head of Savills International Realty in Hong Kong. 'No other scheme compares in terms of build quality, beauty and location.'At entry prices of roughly £4mn for a one-bed and £8-10mn for larger family homes, the residences sit firmly in London's 'super-prime' bracket. Elliott regards the premium as defensible: comparables near Hyde Park may share leafy views, but they lack the gravitas of a Grade II* listed palazzo abutting Horse Guards Parade, within strolling distance of Buckingham Palace.
'It isn't the Churchill connection that closes deals,' he concedes. 'Clients buy because of where it is, what it is, and the level of finish we're delivering. It's like buying a Monet or a Picasso,' he muses. 'You're acquiring a slice of history that will be handed down through generations.' The pitch is resonating with Asian capital that increasingly prizes 'wealth-preservation generational purchases'.
Completed in 1906, the War Office served as a strategic command during both world wars and later housed the Ministry of Defence. Its commanding position on Whitehall – between Downing Street and Buckingham Palace – adds geopolitical weight to its architectural gravitas.
Following a £1bn+ restoration led by Westminster Development Services, the building now incorporates nine restaurants, three bars, a Guerlain spa and 30,000 sq ft of residents-only amenities, all anchored by Raffles' first UK hotel.
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