July 2015 – Road Closure Leads to Record Mayfair Prices
For the last few years those who like to approach Mayfair from Park Lane, driving past the Dorchester Hotel into South Audley Street or towards Hill Street and Berkeley Square have had their route stymied with the closure of Deanery Street during working hours.
The cause is a new luxury development of JUST SEVEN apartments currently being built and replacing an ugly 1960’s office building at 77 South Audley Street.
Following the sale of the Penthouse last week there is now only one remaining apartment. Residents will enjoy luxurious spa facilities, concierge and underground parking; unprecedented in a development of this size.
- 77 Mayfair has contributed to the employment of over 700 highly-skilled jobs since 2011
- Apartments above street level set to achieve an average of nearly £5,500 per sq. ft. and a highest price within touching distance of 7,000 per sq. ft., both record numbers for the Mayfair area
- Designed by award winning London based architectural practice Squire & Partners
- Interior design by leading British designer Martin Kemp Design
- Development Agents Wetherell and Knight Frank
- First new residential apartment building to complete in Mayfair for over 15 years
LUXLO ACHIEVES SALES IN EXCESS OF £100 MILLION AT LANDMARK 77 MAYFAIR DEVELOPMENT
Luxury developer Luxlo has now exchanged on six of the seven apartments at 77 Mayfair within seven months totalling over £100 million.
77 Mayfair has set the new benchmark for residential property. The Mayfair market has witnessed significant changes throughout the last century and it is only since the 1990s that this world famous location has seen the return to residential and returning its status as the best address in London with everything this world-class city has to offer.
To find a collection of just seven apartments which all enjoy the exclusive use of the luxury facilities that 77 Mayfair enjoys, means that the highest premiums have been achieved. Not only have those apartments above ground level achieved an average of nearly £5,500 per sq. ft. but also created a Mayfair record of nearly £7,000 per sq.ft. for one of them.
OLD AND NEW FACADE
Designed by Squire and Partners, each of the lateral apartments which average almost 4,000 sq. ft. will sit behind the signature design which has become synonymous with the multi-award winning practice, coupled with an original Edwardian Portland stone façade dating back to 1904.
The interiors have been further complemented by Martin Kemp Design, meticulously crafted to enhance and celebrate the unparalleled high ceilings and unique lateral living space that 77 Mayfair provides, thereby creating the finest selection of residential properties in the capital.
3,000 SQUARE FOOT RESIDENTS’ AMENITY SPACE
On completion, residents at 77 Mayfair will be able to enjoy dedicated underground parking together with around 3,000 sq. ft. of exclusive resident amenity space, including a luxury leisure spa, swimming pool, sauna, Jacuzzi, treatment room, gymnasium, hair salon and secure storage, all of which will be managed by Harrods concierge 24 hours a day.
SUMMER 2016 COMPLETION
Set to complete in summer 2016, 77 Mayfair has contributed to the employment of over 700 highly-skilled jobs since 2011. By bringing together an array of highly experienced construction, architecture, design and manufacturing knowledge, 77 Mayfair continues to showcase the very best of British talent and expertise, coupled with a £4.2million contribution to affordable housing within the City of Westminster.
MAYFAIR REGAINING CROWN
Mayfair is beginning to regain its crown as London’s No.1 residential area driven largely by the current phase of new developments and infrastructure.
The Development Agents Wetherell and Knight Frank have utmost praise for Luxlo as it proves that the collaborative process, experience, visionary planning and formation of a world class professional team; collectively contribute to creating this rare and exceptional development.
LOCATION LOCATION LOCATION
Within a short walk of 77 Mayfair, residents will be able to enjoy some of London’s most prestigious international art exhibitions and auction houses including Phillip’s, Sotheby’s and Christies, numerous iconic hotels including The Dorchester and Claridge’s, luxury retail which can be found on nearby Mount Street and Bond Street, and an array of private members Clubs such as Harry’s Bar and Annabel’s, makes 77 Mayfair arguably one of the best placed boutique residences in the capital, today.
To launch Summer in Mount Street we commissioned our own Wetherell deckchairs to sit on the realistic AstroTurf on both sides of our corner frontage. Since then we have hardly seen the sun!
It reminds me of many years ago when at the start autumn we first took delivery of our colourful black and yellow Wetherell umbrellas – it did not rain for a month!
Perhaps there is a moral there somewhere?
Enjoy the summer.