What is believed to be the last remaining complete John Nash terrace in Regent’s Park has hit the market with guide price of £185m. Should it be bought at the asking price, it will be the second most expensive home to sell in the UK, following the purchase of 2-8a Rutland Gate for £210 million in January this year.

South African property investment company Zenprop is reportedly targeting foreign buyers for the historical home, which spans 117,000 sq ft. Selling agents Savills and Aylesford believe this to be the first time a full Nash terrace has come to the open market.

The Grade I listed building was built between 1821 and 1836 by James Burton based on designs by Nash, whose most famous works include nearby Buckingham Palace, Regent’s Park and Marble Arch. Originally created as 18 single family houses, 1-18 York Terrace East suffered bomb damage during the Second World War and was almost demolished. From 1947, it served as offices for the Ministry of Works, and in 1967 was converted to student accommodation.

Zenprop acquired the building from International Student House in 2016, with the view to restoring it to residential use. The building hits the market with planning permission from Westminster City Council for the development of two houses and 26 apartments, with 42 underground parking spaces.

Stephen Lindsay, head of Savills St John’s Wood, commented: “Nothing on this scale in such a prime London location has ever come up for sale. It is an opportunity to create a special and extensive private estate within the tranquil surrounds of Regent’s Park, moments away from Marylebone High Street and the West End.”