A 12-seat box at the London's Royal Albert Hall, which has been put up for sale for the first time in almost a decade, could prove to be a shrewd investment.
The Grand Tier box at the world-famous concert hall in South Kensington, which has hosted some of the world's leading artists since it was opened by Queen Victoria in 1871, is expected to cost in the region of £2.5m.
In 2017 alone, the Grade I listed Royal Albert Hall will host 390 shows and events, including the EE British Academy Film Awards, Titanic Live, and the Royal Philharmonic Orchestra’s The Music of Bond, but it is best-known for hosting the annual BBC Proms, an eight-week summer festival of music.
The box is located on the Grand Tier close to the Royal Family's own, and provides some of the best views in the building.
In purchasing the box, the owner will acquire an 849-year lease and automatic membership of the Corporation of the Halls of Arts and Science, which gives them responsibility for duties including electing the Hall's president, and approving funding.
There are 1276 ‘permanent’ seats in the Hall, which are owned by private individuals and corporations, located in both boxes and the stalls. The seat-holder leases run for the same period as the lease on the Hall itself, which is for 999 years from 1867.
Nicholas Shaw, sales manager of Harrods Estates Kensington, commented: “This Grand Tier box at the Royal Albert Hall is a real generational purchase, and is the first of its kind that is available to buy for almost a decade.
“The box is ideal for entertaining, with its twelve seats, and provides enviable views over the main stage and auditorium. We have witnessed these boxes sell previously to the true lovers of the arts and this time should be no different. I anticipate this will sell to a British investor.”