An unmodernised apartment in London’s swanky St James’s has set a new record for the area, after selling for almost £22 million.
The four-bedroom property on St James’s Place, which was sold by agents at Oliver Bernard, achieved a price per square foot of £5,093, making it one of just 10 apartments in the area ever to achieve more than £5,000 per square foot.
What makes this particular high-end living space special is that it was not redeveloped for sale. Properties in the area are often upgraded before they go on the market, and previous sales with similar price tags have all been modernised.
Charlie Gibson, managing director of Oliver Bernard, said that the fifth floor apartment “offers an incredible opportunity to transform it into a magnificent home”.
The previous record for an unrenovated apartment sale in the Mayfair & St James area took place in March 2022, when a Cleveland Court property achieved £4,597 per square foot.
The St James’s Place apartment is the third sale over £20 million recorded this year so far this year, and is one of just eight over that price in the whole of London this year.
The unnamed new owner hails from East Asia, and purchased the apartment off market. That means the property wasn’t offered for general sale, and was only seen by selected potential buyers.
Part of an building that houses six apartments in total, the home’s features include two kitchens, an art studio, and a view of Green Park.
“Any apartment with views of Green Park demands a premium, but the very few apartments that are located on the East of the Park are once in a generation purchases,” Mr Gibson explained.
“St James’s has excellent security, the entrance is extremely private which of course by nature, attracts the world’s most powerful people.”
