£20m penthouse completes makeover of London's South Bank. So, who will Shell out for it?

Seventy-five years after the Festival of Britain transformed London's postwar rubble into a showcase of British culture, the area known as South Bank has undergone a new regeneration. This latest project involves the redevelopment of the Shell Centre, home to the global headquarters of oil company Shell. After a 10-year effort, luxury apartments, shops, and restaurants have replaced outdated office buildings. Among these, a £20 million (£26.4 million) penthouse has gone on sale.

The Southbank Place development, a £1 billion (£1.25 billion) project executed by Braeburn Estates, a joint venture between Qatari Diar and Canary Wharf Group, has seen the demolition of the original adjoining blocks. The complex, designed by architects Stanton Williams, aims to create a "modern response" to the brutalist styles of the Royal Festival Hall and Southbank Centre.

The penthouse, located on the 12th and 13th floors, offers 3,800 sq ft of space and panoramic views of central London, the London Eye, St Paul's Cathedral, and Canary Wharf. Its design, crafted by British interior design studio Albion Nord, features bespoke furniture, custom artwork, and a large wraparound terrace. The property's interior is praised for its warmth, movement, and a "stunning vignette" in each room.

Potential buyers are expected to be international, with a mix of British, European, and Middle Eastern residents. The South Bank's appeal lies in its cultural and creative atmosphere, making it a more attractive option than areas popular with the world's super-rich like Mayfair. Despite recent safety concerns, experts believe top-end properties will still command high prices, especially for buyers looking at long-term, generational investments.