Mayfair estate agent Wetherell has been appointed by Indian luxury property developer Lodha Group to be the official London sales partner for the 1,450 ft high (442 metre high) World One Tower in Mumbai, marketing the world’s tallest residential skyscraper to Indian super-rich buyers based in London.
Designed by international architects Pei Cobb Freed & Partners, the 117 storey high £205 million World One Tower is located in the Worli district of South Mumbai, overlooking the Arabian sea. Worli is a leafy downtown suburb where during the days of the Raj the British administrators had their luxury villas and bungalows.
Once complete in 2016, the World One Tower will be the world’s tallest residential skyscraper providing over 1.2 million square feet of luxury accommodation including over 300 super-luxury apartments and penthouses, a large indoor leisure complex with indoor swimming pools, gymnasium and spa, and a cricket and sports club with cricket pitches, pavilion and club house.
Eighteen high speed lifts will take passengers from gound to top floor at a rate of 8 metres per second, speeds equivalent to the super-fast lifts in the Burj Khalifa tower in Dubai and the Baltimore Tower in London.
The luxurious one, two, three and four bedroom apartments will have interiors designed by Armani Casa, the luxurious homewear brand of leading international designer Giorgio Armani. The Armani interiors brand is known for its sophistication, understated style and state-of-the-art home automation. The brands signature colours are white gold leaf, metallic silver and cream, with features including bespoke fabrics, special wall finishes, wenge wood, mirrored doors, tinted glass and marble bathrooms.
Like the 5-star Armani Hotels in Milan and Dubai, Armani residences are typically highly advanced with comfort cooling, state of the art home entertainment and security and electronic windows, curtains and blinds.
Wetherell will be marketing the premier collection of three and four bedroom residences, with prices starting from £1.4 million. Wetherell highlight that they have been chosen as Lodha’s London sales partner because of their market knowledge and leadership in the Mayfair and wider West End market, home to a large network of UK and international based ultra-high-net-worth Indians. Wetherell aims to tap into this wealthy Indian expatriate community in order to generate London based sales leads for the World One Tower.
Wetherell reveal that UHNW Indian property purchasers, investors and developers are the rising stars in the Mayfair and wider West End property market; purchasing over £1 billion+ of luxury homes, estates, hotels and leisure outlets in the last 18 months.
Wetherell reveal that Indian purchasers are now the largest group of overseas buyers in Mayfair, comprising 25% of all purchasers (second only to British based buyers), and well ahead of Asian and Continental European buyers (19% of all purchasers) and Russians and Middle Eastern buyers, who now comprise just 13% each of all buyers. Wetherell estimate that at the height of each British summer some 3,000 UHNW Indian families escape the heat of the Indian summer make Mayfair their summertime address, living in their London homes, renting property or staying in luxury hotels.
Wetherell highlight that Indian buyers will typically spend anything from £1million to £20 million on purchasing a home in Mayfair, with 70% buying an apartment or penthouse and the balance acquiring a mansion, townhouse or mews property.
Peter Wetherell, Chief Executive of Wetherell said: “The British and international based Indian business community are extremely successful and have been major investors in prime London real estate over the last two years. Now Wetherell aims to tap into this market, and generate some “reverse marketing and sales”, in order to channel some of this wealth back to India and into the luxurious residences in the World One Tower.”
Peter Wetherell continues: “Indian buyers in London are used to homes with an extremely high specification and hotel style amenities. Lodha Group have been extremely clever in providing the World One Tower with every luxury and leisure amenity imaginable, and the Armani Casa brand and interiors clearly demonstrates that this is an international product of a standard that can rival London, Milan and other luxury destinations.”