Despite the staggering costs, over 600 potential buyers, including billionaires and centi-millionaires, have already expressed interest in the ultra-exclusive project.
The development, located on the site of the former Audley Square car park in Mayfair, is set to redefine high-end real estate.
The project will include just 24 expansive residences, featuring penthouses, townhouses, and apartments with up to five bedrooms, and an additional five pieds-à-terre.
The average price per unit is expected to reach a jaw-dropping £70 million.
Scheduled for completion in Spring 2026 after six years of construction, the 1 Mayfair scheme will eclipse the previous record-holder for luxury developments, the Candy brothers’ £1.3 billion One Hyde Park in Knightsbridge. A waiting list is already filled with the world’s wealthiest individuals according to The Standard.
The development’s smallest home, priced at £35 million, rivals only a handful of other mega-mansions and elite apartments across London.
For comparison, the average property price in London currently stands at around £500,000, according to the Nationwide house price index, while the UK’s national average is £268,000.
Spanning an unprecedented 90 feet below ground, the development’s basement will house a state-of-the-art health spa, complete with a 20-metre swimming pool, as well as an underground car park.
Designed by New York-based architect Robert Stern and his practice RAMSA, the development is being brought to life by construction managers Mace and basement specialists PJ Carey.
As demand for these ultra-premium homes continues to grow, the development underscores the enduring appeal of London’s elite property market to the global super-rich.
