The Clarges Mayfair development is set to add 34 more flats to the super-prime market in London. British Land, one of the largest developers in the UK, purchased the site in 2012 for just under Â£130 million. The location offers amazing views of Buckingham Palace and is within touching distance of both Hyde Park and Bond Street. The building is set to become one of the most valued addresses in London when construction is finished in 2017.
The popularity of the Clarges Mayfair is already becoming apparent. Work is underway and 18 of the 34 flats have already been sold with the sales bringing in £210 million. Four of these sold for above the previous price per sq ft records of £5,000 but it is the penthouse that has proven to be the most highly sought after. British Land claim it has sold for substantially above the previous record. Buyer confidentially has prohibited release of the exact figure but the sales are a very good sign that the other flats will be snapped up too.
When finished the Clarges will be a gated community with modern security measures and a number of facilities for residents to enjoy. There will be a full wellness spa on site complete with swimming pool and gymnasium. Alongside these a private cinema room is also planned. The development will set new standards in what people can expect from luxury apartment buildings.
The 34 flats range in size from single bedroom apartments to huge five bedroom homes. The properties will be spread across ten floors with many of the flats still to be purchased on the upper floors that will offer the best views.
The sales come at a great time when many people are worrying about the number of overseas investors looking for a property investment in Hillingdon, Westminster, and other London boroughs. Over half of the flats sold in Clarges are said to have been purchased by British and British-based buyers.