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London’s ‘Love Island’-Like Bachelor Pad Hits Market for £2.9 million

The penthouse, tailored to summer living, is one of the most expensive in Stratford

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London’s Platinum Penthouse, the latest addition to the Olympic Village regeneration project, was unveiled Monday with a £2.9 million (US$ 3.8 million) price tag.

"No other penthouse in London merges indoor and outdoor living in such a spectacular fashion," said Bob Weston, the chairman of Weston Homes, the developer.

The 2,820 square-feet home is one of the most expensive in Stratford, where the average house price is around £392,562 (US$508,000), according to statistics from the U.K. Land Registry.  

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"It’s a new world to try, this particular area hasn’t seen this type of product before," said Mr. Weston. But given the transformation Stratford has undergone over the past 10 years, now is the right time to be building luxury accommodation, he said.

The "Love Island" comparison was created earlier this week by one of the journalists writing about the house, he said. "Love Island," is a British reality show where single people from all over the U.K. go to stay in a Aussie-style villa in Majorca.

Similar to the "Love Island" house, this property has maximized outdoor living space with a chef’s barbecue, spa pool, outdoor kitchen and cocktail bar. Despite the slightly unpredictable British weather, developers call it a "slice of Australia in London."

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Nevertheless, the new home is unique not only because of the six outdoor balconies and 750 square-feet of outside space, but also because of custom-made interior design and furniture, crafted by designer Oz Lancaster of OS Designs Ltd.

Highlights of this home also include floor-to-ceiling windows, two receptions rooms and three VIP bedroom suites that were fitted out by a team of 60 engineers, craftsmen and designers over the course of six months, according to a news release from Lawrie Cornish, Weston Housing’s public relations company. There are in-building luxury amenities available to the residents, like gym and concierge service. The property also has high-tech features such as a state-of-the-art home entertainment system, and security passcode locked entrance, according to the statement.

The Olympic Village regeneration project is part of the British government’s plan to gentrify and modernize Stratford, where the 2012 Olympics took place, in order to provide new, safe and affordable housing in a previously deprived area of East London.