A private box at the Royal Albert Hall is on sale for £3 million, having been owned by the same family since the concert venue was built.
The twelve-seat Grand Tier Box 14 is situated on the eastern side of the world-famous auditorium in South Kensington, west London, in a position that mirrors the royal view of the stage from The King’s Box on the western side.
It is being sold by Brendan Parsons, the 7th Earl of Rosse, and his wife, Alison, the Countess of Rosse, who are based at Birr Castle in Co Offaly, Ireland.
The 3rd Earl, the great-great-grandfather of Parsons, was a friend of Prince Albert and his son, the 4th Earl, was invited to pay a “subscription” of £100 in exchange for the box.
A quarter of the hall’s 5,250 seats were sold in this way with 999-year leases in order to fund the construction of the venue.
Box 14 has been kept in the family since the hall was opened by Queen Victoria in 1871 but the current earl and countess are selling the asset because they do not use it as much as they used to.
Martin Bikhit, a luxury property specialist at Berkshire Hathaway HomeServices in London, said: “These luxurious situations come on the market very rarely and have historically been snapped up by the lucky few in the know or passed down through generations.”
There are 843 years remaining on the lease for the Grand Tier box, but the new owners must pay an annual contribution of £13,795 towards the upkeep of the venue.
Owners receive tickets to all “ordinary lettings” events that are not sold to external promoters, which comprise around two-thirds of performances in the hall, including the Last Night at the Proms.
Additional perks include automatic membership of the Corporation of the Hall of Arts and Science, the charity that manages the Royal Albert Hall; a brass plaque bearing the owners’ name; and private catering to entertain guests with champagne and canapés for an extra fee.
Box 14 is more than a flashy asset; it is also being marketed as a savvy investment. A smaller five-seat box in the second tier was on sale for £500,000 in 2011, while a box sold in the Grand Tier by estate agency Harrods Estates sold for more than £1 million in 2009.
Extra income can also be made by selling unwanted tickets back to the box office at face value.
There have already been international inquiries from buyers in Hong Kong, the Middle East and eastern Europe.
Bikhit said: “Fundamentally it’s for someone who either has an immense appreciation for the arts with sizeable wealth, or it’s for an individual who has got the houses, the private jets, and the boats and they want an asset that almost feels as though it’s something money can’t buy.”
The estate agent is unsure whether it is possible to sleep in the box, adding: “My client has never tried.”
