The champagne is no doubt flowing at prime London agencies Wetherell and Knight Frank following the new that they have helped British Land sell 18 apartments for an average of £4,750 per square foot - a record for a multi-property sale.
Clarges Mayfair is close to Bond Street and overlooking Green Park and Buckingham Palace. At £210 million in total, the sales so far represent close to 50 per cent of the total gross development value of the private residential element of the scheme.
The residential and office development costs on the site are likely to hit £228m and the residential element will be completed and occupied in 2017.
The sales - 50 per cent to overseas buyers, 50 per cent to domestic purchasers - appears to have regained for Mayfair the status of London's most expensive location' after years of being eclipsed by One Hyde Park and other prime addresses.
Meanwhile - and to the surprise of few - London has been named the world's most expensive city for companies to locate employees by Savills.
The UK capital has overtaken Hong Kong, which had previously topped the ranking for an unbroken five year period. New York and Paris come next.
Savills says London is the most expensive major city in which to accommodate staff at $121,000 per year or £73,800. The agency's measure includes the total costs per employee of renting, living and working in 12 world cities and takes into account office costs, taxes and fluctuating exchange rates.
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