![\"Person](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2026\/08\/Property.jpg\")
\t\tLondon’s luxury property market is slowing (Daniel Leal-Olivas\/PA Wire)\t<\/p>\n\t\t\tMonday 17 August 2026 2:43 pm\n\t\t\t<\/p>\n
\t\tLondon’s luxury property market is slowing (Daniel Leal-Olivas\/PA Wire)\t<\/p>\n
A luxury London property developer has collapsed after running out of funds, as the capital\u2019s prime housing sector faces growing pressure.\u00a0<\/p>\n
London Richmond Ltd, which describes itself as a \u201cboutique\u201d developer focusing on the \u201cfiner areas\u201d of the capital, has appointed administrators, City AM has learned.\u00a0<\/p>\n
In the latest sign that London\u2019s prime property market is facing a prolonged slowdown, the firm\u2019s administrators said its owners had run out of cash.\u00a0<\/p>\n
The developer\u2019s now-deleted website boasted a portfolio of 20 luxury properties worth more than \u00a330m, in up-market locations including West Hampstead, Wimbledon and South Kensington.\u00a0<\/p>\n
A spokesperson for BTG, the firm\u2019s administrators, told City AM: \u201cFollowing financial difficulty due to issues with raising further funding, the director was left with no choice other than to place the company into administration.\u00a0<\/p>\n
\u201cOur priority now is to complete our investigations to maximise the return to creditors in line with our statutory duty.\u00a0<\/p>\n
\u201cWe cannot comment further at this early stage in the appointment, however, we will keep creditors up to date with our findings as our investigation progresses.\u201d<\/p>\n
\t\t\t\t\tRead more<\/p>\n
\t\t\tBarclays in legal battle with MFS administrators over part of \u00a3160m holding<\/a><\/p>\n London Richmond had told prospective investors that it chose \u201cto invest in London because of our love for this city and because the residential property market has consistently performed exceedingly well.\u201d<\/p>\n Kensington house prices shed \u00a3100,000<\/p>\n The developer\u2019s website had boasted 22 years of consecutive increases in the value of London\u2019s property market, with the average house price growing from \u00a3206,000 to \u00a3846,000 between 2000 and 2022.<\/p>\n \u201cLondon has long been considered a safe haven for real estate investments and the city\u2019s unique characteristics ensure its enduring popularity and global appeal,\u201d they said.\u00a0<\/p>\n But London\u2019s prime property market has faced significant headwinds in recent years, as the growing weight of stamp duty and flight of high-net-worth individuals slowed the market.\u00a0<\/p>\n House prices<\/a> in some of the capital\u2019s richest boroughs have fallen by nearly \u00a3100,000 in just a month, according to Rightmove.\u00a0<\/p>\n In research published on Monday, the property portal placed the average price of a home in Kensington and Chelsea at \u00a31,552,970 in August \u2013 marking a drop of more than \u00a395,000 on the month prior.<\/p>\n Earlier this year, City AM revealed<\/a> that prime property transactions in London fell to their lowest level in a decade last year.<\/p>\n \t\t\t\t\tRead more<\/p>\n