Mayfair flat comes to the market for an astounding £5,130 per square foot
If evidence were ever needed to show that “ultra prime” London property has become nothing other than a money park for “ultra high net worth individuals”, today it has been provided with the launch of an £18 million 3,059 square foot apartment on Mayfair’s Grosvenor Square.
![Grosvenor Square is set to become London's most expensive square](https://www.thesteepletimes.com//wp-content/uploads/2020/01/Grosvenor-Square-is-set-to-become-Londons-most-expensive-square.jpg)
![The main reception space is some 43 foot in length](https://www.thesteepletimes.com//wp-content/uploads/2020/01/The-main-reception-space-is-some-43-foot-in-length.jpg)
![The dining room has plainly been stocked by a gin lover given the number of bottles of Hendricks on display](https://www.thesteepletimes.com//wp-content/uploads/2020/01/The-dining-room-has-plainly-been-stocked-by-a-gin-lover-given-the-number-of-bottles-of-Hendricks-on-display.jpg)
![The master bedroom suite is a similar size to a conventional one bedroom flat](https://www.thesteepletimes.com//wp-content/uploads/2020/01/The-master-bedroom-suite-is-a-similar-size-to-a-conventional-one-bedroom-flat.jpg)
The apartment – which is the most expensive ever to have been released onto the Mayfair market is priced at 72 times the price of an average UK home – comprises of a 43 foot double reception room, a 12 seat dining room and 4 bedrooms. The master suite is 600 square foot in size – the equivalent of a conventional 1 bedroom flat – and even the guest cloakroom is described as “super-sized” at 53 square foot.
![Comparing Grosvenor Square with Eaton Square and Cadogan Square](https://www.thesteepletimes.com//wp-content/uploads/2020/01/Comparing-Grosvenor-Square-with-Eaton-Square-and-Cadogan-Square.jpg)
![Prices per square foot](https://www.thesteepletimes.com//wp-content/uploads/2020/01/Prices-per-square-foot.jpg)
For sale through market leader Wetherell, the service charge on the fourth floor apartment at 18 Grosvenor Square is an astounding £20,019 per annum whilst the Stamp Duty payable on the purchase will be £1.26 million at 7%.
Peter Wetherell of Wetherell predicts that Mayfair will become a “£10,000 per square foot location within the next decade”. On that basis, a tiny 300 square foot studio would be worth £3 million. You couldn’t make it up.
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