Luxury agency Oliver Bernard has sold a residential apartment in Mayfair to an East Asian buyer for a record £20.3m.
The 4,000 sq ft unmodernised apartment overlooking Green Park, W1, sold in an off-market deal for £5,093 per sq ft, marking a new record for the Mayfair and St James’s area.
The sale is one of only 10 apartments to have sold for more than £5,000 per sq ft in the area. The previous record was £4,597 per sq ft, which was achieved at Cleveland Court on Cleveland Row in March 2022.
Located on the fifth floor of the building, the apartment is one of six at the site and features four bedrooms, an art studio, office, TV room, living room, two kitchens, a balcony and parking.
The deal marks the third sale above £20m in Mayfair in the year to date.
Charlie Gibson, managing director at Oliver Bernard, said: “Any apartment with views of Green Park demands a premium, but the very few apartments that are located on the east of the park are once-in-a-generation purchases.
“We are not surprised that St James’s Place was snapped up so quickly. Since June, there have been eight sales in the capital over £20m. This flurry of deals shows those who are not reliant on debt are capitalising. These opportunistic buyers are purchasing best-in-class assets for their family offices that are available only once in a lifetime.”
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