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PrimeResi Quarterly Journal

The handbook of the luxury property industry

Click on the cover to find out more

PRQ7

Inside the record-breaking Clarges Mayfair

New CGIs released of super-prime resi-led scheme on Piccadilly, which has just topped out after smashing Mayfair price records

British Land’s hotly-anticipated Clarges Mayfair scheme has officially reached full height, and some remarkable new images have been released to show what’s in store.

Designed by Squire and Partners and being built by Laing O’Rourke, Piccadilly’s latest landmark hit 40m this week and is also now fully clad in its fetching Portland Stone façade.

Deputy Leader of Westminster Council, Cllr Robert Davis, joined the core team of British Land’s Chris Grigg and James Taylor, Laing O’Rourke’s Liam Cummins and Squire & Partners’ Michael Squire on the roof yesterday to mark the milestone with a traditional topping out ceremony – and take in the views…

LR: John Czernobay (British Land), James Taylor (British Land), Liam Cummins (Laing O’Rourke), Chris Grigg (British Land), Councillor Robert Davis (Westminster City Council), Michael Squire (Squire & Partners), Tim Roberts (British Land)

LR: John Czernobay (British Land), James Taylor (British Land), Liam Cummins (Laing O’Rourke), Chris Grigg (British Land), Councillor Robert Davis (Westminster City Council), Michael Squire (Squire & Partners), Tim Roberts (British Land)

The transformation of the “once-in-a-lifetime” acre-sized plot opposite Green Park – which was formerly dominated by a multi-storey car park – is altogether delivering 34 super-prime resi apartments and facilities, nearly 50,000 square feet of offices (now complete), just under 15,000 square feet of retail and leisure, and 10,500 square feet of social housing. The project has also involved the relocation of the 143-year old Kennel Club to another position on the site.

22 of the planned apartments were released in 2014 and HNW buyers immediately pounced, snapping them up for a combined £259m (50% of the total GDV of the entire project) at an average psf rate of £4,750. A total of five smashed price records for Mayfair, with a penthouse going for in excess of £5,000 psf. Bear in mind that 18 of those sold were on floors four and below.

The remaining 12 units – which are higher up and have some of the best vistas in the capital – will be marketed (again via Wetherell and Knight Frank) closer to completion in late 2017 “when buyers can fully appreciate the unique design of the building and the panoramic views over London”, so there’s every chance of yet more records being broken. 

Interiors are being taken care of by Martin Kemp Design and residents will be furnished with “one of the best private wellness spas in London” including a 25m swimming pool and fully equipped gym, sauna and steam room, along with a private cinema and a new restaurant on the ground floor. 

Chris Grigg, Chief Executive of British Land: “Clarges Mayfair is a great example of our ability to create exceptional environments where people want to work, shop and live. We have worked hard to ensure we understood what potential residents wanted and also connected with the local community to design an outstanding landmark building. It is a reflection of our continued commitment to design and testament to the expertise of the team responsible for its delivery.”

Michael Squire, Founder of Squire and Partners: “Clarges Mayfair provides the most sophisticated contemporary residential accommodation whilst taking a step into Piccadilly’s rich history as the site of some of the city’s finest homes. Its crisp timeless design reveals layers of detailing in its stonework and bronze which draw upon the historic context.”

Here’s all the new images..

clargesmayfair.com

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