Mayfair flat comes to the market for an astounding £5,130 per square foot
If evidence were ever needed to show that “ultra prime” London property has become nothing other than a money park for “ultra high net worth individuals”, today it has been provided with the launch of an £18 million 3,059 square foot apartment on Mayfair’s Grosvenor Square.
The apartment – which is the most expensive ever to have been released onto the Mayfair market is priced at 72 times the price of an average UK home – comprises of a 43 foot double reception room, a 12 seat dining room and 4 bedrooms. The master suite is 600 square foot in size – the equivalent of a conventional 1 bedroom flat – and even the guest cloakroom is described as “super-sized” at 53 square foot.
For sale through market leader Wetherell, the service charge on the fourth floor apartment at 18 Grosvenor Square is an astounding £20,019 per annum whilst the Stamp Duty payable on the purchase will be £1.26 million at 7%.
Peter Wetherell of Wetherell predicts that Mayfair will become a “£10,000 per square foot location within the next decade”. On that basis, a tiny 300 square foot studio would be worth £3 million. You couldn’t make it up.
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