The cost for one of London's most pricey apartments will begin at £35million - with 600 megarich customers already securing a spot on the waiting list.
Pricing details of billionaire John Caudwell's spectacular 1 Mayfair development have now been revealed and only those with
the deepest pockets can hope to afford one of the
lavish pads.
The cheapest apartment on offer is expected
to be an eye-watering £35million - around 70 times the
average cost of a house in the capital.
Due to complete in Spring 2026 the scheme will easily surpass London's previous record
breaker, the £1.3billion One Hyde Park development in Knightsbridge.
Caudwell told The Standard that there are already more than 600 prospective buyers on a waiting list
of billionaires and centi-millionaires who have expressed an interest in making a purchase at the scheme.
There will be just 24 'principal residences' in the property including
lateral apartments, penthouses and townhouses with up to five bedrooms, and five more smaller 'pieds-à-terre' apartments.
The size of the homes has not yet been disclosed but the developers say even the most modest property will start with a guide price exceeded by only a handful
of mansions in London's richest neighbourhoods.
The average price of all 29 units - which cover 300,000 sq
ft - will be close to £70million.
The cost of London's most pricey apartments will begin at £35million - with 600 megarich customers already securing a spot on the waiting list.
Pictured: A Computer generated image of the Mayfair development
Details of pricing at John Caudwell's spectacular Mayfair development has
now been revealed and only those with the deepest pockets can hope to afford one of the lavish
pads. Pictured: The building's topping out ceremony
The entry level price of £35million is 70 times the average
London property value of around £500,000, and 130 times the
national average price of £268,000 revealed in today's Nationwide house
price survey for November.
The development's basement is being dug down to 90ft below ground level to make room for a health spa with a 20 metre
swimming pool as well as a car park.
The designs were led by New York based architect Robert Stern and practice RAMSA, with contractors, Mace, the construction managers and
PJ Carey responsible for the creation of the basement substructure and superstructure.
Due to complete in Spring 2026 after a six years build the
scheme will easily surpass London's previous record breaker,
the £1.3billion One Hyde Park development in Knightsbridge.
Pictured: The ground floor at 1 Mayfair
Billionaire John Caudwell (pictured) is funding the scheme.
He founded the mobile phones retailers Phones 4u
The size of the homes has not yet been disclosed but the developers say even the most modest property will start
with a guide price exceeded by only a handful of mansions in London's richest
neighbourhoods. Pictured: A glamourous hallway within Mayfair 1
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Caudwell - who founded the mobile phones retailers Phones 4u - attended the topping out of 1 Mayfair alongside
senior members of the construction team.
The ceremony was marked by the final steel rafter, one of 79 at
roof level, being put into place on the top of the nine-storey main apartment building.
No expense has been spared on the building's interior and it will
feature a ceiling with hand-painted frescos based on Michelangelo's Map
of the Heavens in the Vatican, a reception room with
a double height ceiling and 18ft high French windows overlooking the garden.
There will also be a Palace of Versailles Hall of Mirrors-style crystal callery,
created from over 1,264 hand-set pieces of cut glass,
a library and a garden gallery, with seating areas opening directly onto the central courtyard garden.
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