PROPERTY developer British Land has sold some of the most expensive London property ever, with 18 apartments in Mayfair going for £210m. Four of the flats sold for over £5,000 per sq ft, a record for Mayfair’s property market.
The so-called “super-prime” property, Clarges Mayfair, was acquired by British Land for £129.6m in 2012 and now contains 34 apartments over 10 floors, with 16 still waiting to go on the market.
“Clarges Mayfair offered us a rare opportunity to develop an exceptional product in a premium location and we are delighted by the level of interest we are seeing,” said British Land’s head of offices and residential Tim Roberts.
“Demand has been very strong from both UK and overseas buyers, demonstrating both the strength of the premium residential market, and the enduring appeal of developments of this quality,” added Roberts.
At least half the building’s new residents – who were specifically targeted by sales agents Knight Frank and the Mayfair specialist Wetherell – are British-based, while half are foreign, predominantly Indian.