82 MOUNT STREET APARTMENT SCHEME SELLS
We are thrilled to announce that our Mayfair Mount Street scheme has sold for £35 million (GDV) to a private international investor in a landmark deal arranged by Prime Central London property specialists Clifton Property Partners.
The 10,000 sqft development provides a mix of lateral apartments, office and retail designed through close collaboration between REDD, architectural practice Formation Architects and 1508 London.
The 82 Mount Street scheme has a stylish ground floor entrance lobby for the apartments, luxury-brand ground floor retail boutique, lower ground floor offices and five upper floors which accommodate the lateral apartments and penthouse.
At the end of 2020 the highly anticipated Mayfair development was launched for sale off-plan, prior to construction on site commencing; we received interest from a range of individual buyers and professional investors with Clifton Property Partners introducing a buyer who opted to purchase the entire freehold building.
The significant uplift in the value of 82 Mount Street, benefitting both us and the new buyer is underlined by the fact that we acquired and assembled the freehold site for £1,600 per sqft, creating value through the design and planning process. When the development is completed the finished apartments have a calculated open market value of £4,500 per sqft, representing significant value for the current buyer.