A duplex penthouse in London’s prestigious Belgravia neighborhood has been listed for £48 million, or approximately $64 million, positioning it among the most expensive penthouses on the market this year. The fully furnished five-bedroom residence, occupying the top two floors of 1 Five Fields Square, was completed in May and offers expansive views extending to the historic Battersea Power Station.

The 7,000-square-foot interior is complemented by an additional 3,000 square feet of outdoor terrace space. The seven-story building, constructed on land formerly used as British army barracks owned by the U.K.’s Ministry of Defence, features rare amenities such as an indoor tennis court adaptable for pickleball and basketball.

The property’s listing agent, Rupert des Forges of Knight Frank, emphasized that the turnkey nature of the penthouse—including furnishings, artwork, and bed linens—appeals particularly to ultrawealthy international buyers seeking immediate occupancy.

The development is owned by Qatari Diar, a real estate arm of the Qatar Investment Authority sovereign-wealth fund. Miles Wood, sales director at Qatari Diar, noted that the group acquired the site in 2008 for approximately $1.3 billion, though he declined to disclose the construction costs for the project. Since sales launched in October 2025, about 25% of the building’s 28 units have been sold.

The market for prime London properties priced over $10 million has experienced renewed momentum in 2026. According to Knight Frank, sales in this segment rose by 32% in the first quarter compared to the same period last year. This growth comes despite elevated interest rates and new taxes targeting wealthy expatriates, which had previously dampened activity in the city’s ultraprime residential market.