Beauchamp Estates has sold a luxurious three-bedroom duplex at 7 Charles Street in Mayfair to an American buyer for £11.5 million, marking the first ultra-prime property deal in the area for 2024.

The American buyer had exclusively tasked Beauchamp Estates to find them the ultimate turn-key London retreat and the duplex on Charles Street perfectly fitted the brief. 

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Gary Hersham, Founding Director of Beauchamp Estates commented: “Beauchamp Estates is delighted to have sealed the first ultra-prime deal in Mayfair of 2024, with the landmark sale of this spectacular three-bedroom duplex residence on Charles Street, managed by my colleague, Sales Negotiator Vlad Viaryshka. The American buyer entrusted Beauchamp Estates to find them their ultimate Mayfair home, with the neighbourhood continuing to be the most sought-after address for wealthy home buyers from across the globe in search of a Prime Central London retreat. The deal marks a fantastic start to the year, and we look forward to many more such sales throughout 2024.” 

Jeremy Gee, Managing Director of Beauchamp Estates added: “The sale of the duplex on Charles Street for close to its asking price of £11.5 million is a testament to both the perennial desirability of Mayfair, where residents have some of London’s finest private members’ clubs, restaurants and boutiques on their doorstep, but also to the appeal of high-quality craftsmanship and design. This turn-key two-storey home offers its new owner not just beautifully arranged living space, plus a rare courtyard garden, but a bespoke scheme of furniture and interior dressing. The building’s period elegance and a sophisticated, unique interior design scheme were integral to the appeal of the duplex to the buyer.” 

In the recent wealth survey for Ultra Prime Barometer, created with Beauchamp Estates' data and LONRES analysis, it's predicted that in 2024, property values over £15 million will increase by 1-2%, and billionaire home transactions are expected to grow by another 10%. The surge will be driven by affluent buyers from five main countries - the United States, Saudi Arabia, the United Arab Emirates, China, and India.

Last year saw 54 sales for luxury properties priced over £15 million (£1.3 billion of sales in total), with the market dominated by buyers from the United States, China and the Middle East, most of whom had personal security and privacy in their homes high on their wish lists. 

Due to demand from buyers from the USA, India and the Middle East, more super-prime homes priced above £10 million were sold in Mayfair during 2023 than in any other Prime Central London address. Over 70% of the homes valued at over £10 million that sold in Mayfair during 2023 were large lateral apartments.

For properties valued at over £10 million, the Mayfair housing market boomed during 2023, with twice as many homes sold than in 2022, generating combined sales of over £450 million, quadruple the equivalent value of £123 million in 2022.  

Founded in 1979 Beauchamp Estates has grown to become a multi-national firm and a global leader in Ultra Prime property. Alongside offices on Curzon Street in Mayfair and in St John’s Wood, in Prime Central London, the agency has offices in a range of affluent destinations including Cannes, St Tropez, Mougins and St Jean Cap Ferrat on the French Riviera, as well as Mykonos, Tel Aviv and an associate office in New York.

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

Photos: REDD/Beauchamp Estates