So what`s the value of a view, and an ultra-prime location? Answer: £17.5 million, which is for a magnificent five bedroom lateral apartment located above the famous Wolseley Restaurant. Located in St James’s, one of the capital’s most sought after addresses, the apartment overlooks Arlington Street and Piccadilly and is directly adjacent to the world famous Ritz Hotel, with the double drawing room offering views directly onto the hotel.

With its iconic Belle Epoque façade styled after a Louis XVI era Chateau, the Ritz Hotel, opened in 1906, is arguably London’s most glamorous and luxurious 5-star deluxe hotel. Founded by Cesar Ritz and designed by Charles Mewes, the Ritz holds a Royal Warrant and has for generations been frequented by Royalty, business tycoons and the rich and famous. Visitors past and present have included Queen Elizabeth II, Prince Charles and the Duchess of Cornwall, Sir Winston Churchill, Charles de Gaulle, Judy Garland and Charlie Chaplin.

Complete with comfort cooling, the high ceiling apartment that overlooks the Ritz Hotel provides the perfect setting for grand entertaining with a spacious entrance hall, a magnificent West facing 31.6 ft long drawing room, a formal dining room and a large kitchen & breakfast room.

The dual aspect master bedroom suite is the size of a conventional one bedroom apartment and has twin walk-in dressing rooms with bespoke fitted wardrobes and luxurious His & Hers ensuite bathrooms. There are a further four bedrooms, three with luxurious ensuite bathrooms, and a guest cloakroom and a shower/bathroom. The apartment has been designed so that one of the bedrooms can be used as a staff studio suite with bathroom if required.

The apartment sits on the upper floor of a magnificent Grade II listed six-storey Italian Renaissance style building at 160 Piccadilly, originally built in 1921 for Wolseley Motors Ltd, a luxury car brand which was once a rival of Jaguar.

Woleseley Motors Ltd commissioned leading architect William Curtis Green (famous for designing Park Lane’s Dorchester Hotel) to design a prestigious car showroom and headquarters fronting onto Piccadilly and Arlington Street.

Using as his inspiration a magnificent building he had seen in Boston, William Curtis Green designed a magnificent Renaissance style building, faced with Portland stone, with Venetian and Florentine detailing and lavish interiors.

The cars were displayed on the marble floors of the building and cost up to £1,300, a fortune at the time. Customers included the Emperor of Japan, Viscount Nuffield and King Haile Selassie of Ethiopia.

In 1926 the company went bankrupt, trumped by rivals such as Rolls Royce and Bentley. Barclays Bank then acquired the building, with William Curtis Green recalled to remodel the interiors, with the new branch opening in April 1927.

Restaurant entrepreneurs Chris Corbin and Jeremy King (the team behind the success of The Ivy, J. Sheekey and Le Caprice) secured the landmark building in 2003 with its restoration and conversion into a restaurant overseen by David Collins Architects. Opened in November 2003 to rave reviews, the restaurant is the now world famous Wolseley café-restaurant, an all-day grand European café. The Wolseley is one of London’s most popular eateries and requires bookings well in advance.

Peter Wetherell, Chief Executive of Wetherell said: “With its views onto the world famous Ritz Hotel this is one of St James’s most prestigious luxury apartments, benefiting from a triple AAA Prime London address. London apartments rarely come with more prestigious neighbours – the Ritz, the Wolseley, Le Caprice, Wiltons, Bond Street, Buckingham Palace, Clarence House and Green Park all on the doorstep. The apartment provides an abundance of luxuriously appointed lateral living space and the views from the reception room onto the Ritz are breathtaking and priceless.”

Accessed from Arlington Street and benefitting from 24-hour concierge the apartment has lift and stairwell access. The apartment is for sale on a 999-year lease. The apartment is for sale for £17.5 million. Service charge, circa £65,000 per annum, ground rent £1,000 per annum.