Beauchamp Estates has completed a £30.45 million deal involving a 5,818 sqft duplex penthouse with a roof garden, an adjacent three-bedroom apartment spanning 2,700 sqft, and a staff flat at Greybook House in Mayfair.

These properties, recently developed by Fenton Whelan (Park Modern 2023), were acquired by an Abu Dhabi businessman as his London residence.

The deal comprised the penthouse and staff flat, collectively valued at £21.5 million, and the three-bedroom apartment priced at £8.95 million. This purchase serves as a central London home and pied-a-terre for the Emirati businessman, with the penthouse as his primary residence and the additional spaces for hosting guests and accommodating staff.

Greybrook House, situated between Claridge’s and Bonhams, is a Grade II Listed Art Deco building, dating back to 1929. Designed by Sir John Burnett & Partners, it was initially the London base for the Bechstein piano brand (see also Bechstein Hall). Fenton Whelan renovated the iconic building in 2018, retaining its historical essence while incorporating design elements from the Claridge’s façade.

In a new report, Beauchamp Estates highlights Mayfair's super-prime housing market surge in 2023. Sales have doubled compared to 2022, reaching over £450 million. This growth is largely attributed to buyers from the USA, India, and the Middle East, especially Saudi Arabia and the UAE, with purchases exceeding £100 million in recent months.

The report notes that Mayfair leads in super-prime sales by over £10 million in 2023, outpacing other Prime Central London areas such as Belgravia, Knightsbridge, and Hyde Park. The trend in Mayfair has been towards large lateral apartments, averaging 5,447 sqft and selling for about £21 million. Despite fewer house sales in this bracket in 2023, their size and value have nearly doubled, with the notable sale of Aberconway House for £138 million to an Indian billionaire. These properties are predominantly bought for personal use rather than investment.

James Van Den Heule, Co-Founding Director of Fenton Whelan said: “Fenton Whelan is delighted with this landmark deal agreed at Greybrook House, this luxurious apartment building is virtually sold-out now and it enables us to focus on other ongoing projects and new ventures.”

Gary Hersham, Founding Director of Beauchamp Estates commented: “Beauchamp Estates is pleased to have closed this landmark sale at Greybrook House, one of the largest apartment deals done in Mayfair during 2023, managed by my colleague Yahya Swallem. The Greybrook House deal underlines how strong the Mayfair super-prime housing market has been during the last 12 months. Mayfair is currently the most sought-after address in Prime Central London for wealthy home buyers from around the world.”

Yahya Swallem, Senior Sales Consultant at Beauchamp Estates added: “The £10 million-plus deals landscape in Mayfair has been dominated by American, Indian and Middle East buyers who have chosen to invest in London’s very best residential real estate which is a proven safe-haven and stable asset class. Mayfair is seen as the address of choice for global capital and remains arguably the most desirable location in Europe for multi-millionaires and billionaires to buy or rent a home and spend their time.”

See all new developments and buildings for sale by Beauchamp Estates.

For more information on Beauchamp Estates Tel: +44 (0)20 7499 7722 or visit beauchamp.com.