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REDD snaps up 7 Charles Street and secures planning permission for £10m duplex

Monaco-based residential developer REDD has acquired 7 Charles Street in Mayfair and obtained planning permission to create a new £10m duplex residence as it continues to execute its luxury residential plan.

The remodelled 7 Charles Street will provide 3,100 sq ft of living space complete with a courtyard garden and double-height stair gallery.

REDD’s new 7 Charles Street project will have an 18-month development programme with interior designers and sales agents to be appointed in due course.

REDD bought Mayfair’s Balfour Place in central London for £15m earlier this month and has built up a£100m development pipeline in a matter of months.

Its stated focus is on the prime end of the market. It is buying in London’s most exclusive postcodes –the likes of Mayfair, Knightsbridge and St James’s.

Russell Smithers, managing director of the REDD operation in London, said: “REDD is delighted to have gained planning consent for this magnificent new luxury residence within this grand listed building.

“The completed duplex will be Mayfair’s nest garden apartment and is part of our on going expansion plans in London’s best addresses. We have recently announced our first multi-unit development at Balfour Place and are looking at other multi-unit residential development opportunities across prime Central London.”

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