The cost for one of London's most pricey apartments will begin at £35million - with 600 megarich customers already securing a <br>
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spot on the waiting list.<br>
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Pricing details of billionaire John Caudwell's spectacular 1 Mayfair development <br>
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have now been revealed and only those with the deepest pockets can hope <br>
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to afford one of the lavish pads.<br>
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The cheapest apartment on offer is expected to be an eye-watering £35million - around 70 times the average cost of a house in the <br>
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capital.<br>
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Due to complete in Spring 2026 the scheme will easily surpass London's previous record breaker, the £1.3billion One Hyde <br>
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Park development in Knightsbridge.<br>
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Caudwell told The Standard that there are already more than 600 prospective buyers on a waiting list of billionaires and centi-millionaires who <br>
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have expressed an interest in making a purchase at the scheme.<br>
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There will be just 24 'principal residences' in the property including lateral apartments, penthouses <br>
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and townhouses with up to five bedrooms, and five more smaller 'pieds-à-terre' apartments.<br>
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The size of the homes has not yet been disclosed but the <br>
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developers say even the most modest property will start with a guide price exceeded by only a handful <br>
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of mansions in London's richest neighbourhoods. <br>
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<b>The average price of all 29 units - which cover 300,000 sq ft - will be close <br>
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to £70million. </b><br>
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The cost of London's most pricey apartments will begin at £35million - with <br>
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600 megarich customers already securing a spot on the waiting list.<br>
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Pictured: A Computer generated image of the Mayfair development<br>
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Details of pricing at John Caudwell's spectacular Mayfair <br>
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development has now been revealed and only those with the deepest pockets can hope <br>
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to afford one of the lavish pads. Pictured: The building's <br>
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topping out ceremony<br>
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The entry level price of £35million is 70 times the average London property value <br>
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of around £500,000, and 130 times the national average price of £268,000 <br>
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revealed in today's Nationwide house price survey for November.<br>
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The development's basement is being dug down to 90ft below ground level <br>
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to make room for a health spa with a 20 metre swimming pool as <br>
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well as a car park.<br>
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The designs were led by New York based architect Robert Stern and practice RAMSA, with <br>
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contractors, Mace, the construction managers and PJ Carey responsible for the creation of the basement substructure and superstructure.<br>
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Due to complete in Spring 2026 after a six <br>
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years build the scheme will easily surpass <br>
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London's previous record breaker, the £1.3billion One Hyde Park development in Knightsbridge.<br>
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Pictured: The ground floor at 1 Mayfair <br>
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Billionaire John Caudwell (pictured) is funding the scheme.<br>
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He founded the mobile phones retailers Phones 4u<br>
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The size of the homes has not yet been disclosed but the developers say even the <br>
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most modest property will start with a guide price exceeded by only a handful of <br>
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mansions in London's richest neighbourhoods. Pictured: A glamourous hallway within Mayfair 1<br>
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<u><i>Be the first to commentBe one of the first to commentComments</i></u><br>
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<i><u>Would you spend £35M+ on a luxury London apartment?</u></i><br>
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<strong>Comment now</strong><br>
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Caudwell - who founded the mobile phones retailers Phones <br>
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4u - attended the topping out of 1 Mayfair alongside senior members of the construction team.<br>
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The ceremony was marked by the final steel rafter, one of 79 at roof level,<br>
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being put into place on the top of the nine-storey main apartment building.<br>
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No expense has been spared on the building's interior and it will feature a ceiling with hand-painted frescos based <br>
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on Michelangelo's Map of the Heavens in the Vatican, a reception room with a double height ceiling and 18ft high French windows overlooking <br>
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the garden.<br>
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There will also be a Palace of Versailles Hall <br>
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of Mirrors-style crystal callery, created from over 1,264 <br>
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hand-set pieces of cut glass, a library and a garden gallery, with seating <br>
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areas opening directly onto the central courtyard garden.<br>
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The cost for one of London's