The cost for one of London's most pricey apartments will begin at £35million - with 600 megarich customers already securing <br>
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a spot on the waiting list.<br>
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Pricing details of billionaire John Caudwell's spectacular 1 Mayfair development have now been revealed and only those with <br>
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the deepest pockets can hope to afford one of <br>
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the lavish pads.<br>
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The cheapest apartment on offer is expected to be <br>
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an eye-watering £35million - around 70 times the average <br>
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cost of a house in the 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 Park development in Knightsbridge.<br>
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Caudwell told The Standard that there are already more than 600 prospective buyers on a <br>
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waiting list of billionaires and centi-millionaires <br>
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who 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 <br>
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lateral apartments, penthouses and townhouses with up to <br>
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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 developers <br>
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say even the most modest property will start with a guide price <br>
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exceeded by only a handful of mansions in London's richest neighbourhoods. <br>
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<strong>The average price of all 29 units - which cover 300,000 sq ft <br>
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- will be close to £70million. </strong><br>
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The cost of London's most pricey apartments will begin at £35million - with 600 megarich customers already securing a spot on the <br>
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waiting list. Pictured: A Computer generated image of the Mayfair development<br>
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Details of pricing at John Caudwell's spectacular Mayfair development has now been revealed and only those with the deepest pockets can hope to afford one of the lavish <br>
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pads. Pictured: The building's topping out ceremony<br>
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The entry level price of £35million is 70 times the average London property <br>
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value of around £500,000, and 130 times the national <br>
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average price of £268,000 revealed in today's Nationwide <br>
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house price survey for November.<br>
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The development's basement is being dug down to 90ft below ground level to make <br>
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room for a health spa with a 20 metre swimming pool as well <br>
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as a car park.<br>
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The designs were led by New York based architect Robert Stern and <br>
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practice RAMSA, with contractors, Mace, the construction managers <br>
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and PJ Carey responsible for the creation of the basement substructure <br>
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and superstructure.<br>
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Due to complete in Spring 2026 after a six years build the scheme will easily surpass 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 <br>
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the scheme. 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 most modest property will start with a guide price exceeded by only a handful of mansions in London's richest neighbourhoods.<br>
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Pictured: A glamourous hallway within Mayfair 1<br>
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<b>Would you spend £35M+ on a luxury London apartment?</b><br>
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<b>Comment now</b><br>
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Caudwell - who founded the mobile phones retailers Phones 4u - attended the topping <br>
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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 <br>
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79 at roof level, 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 <br>
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ceiling with hand-painted frescos based on Michelangelo's Map of the Heavens in the <br>
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Vatican, a reception room with a double height ceiling and 18ft high French windows overlooking the garden.<br>
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There will also be a Palace of Versailles Hall of Mirrors-style crystal callery, created from over 1,264 hand-set pieces of cut glass, a library and a garden gallery, with seating areas opening directly onto the central courtyard garden.<br>
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The cost for one of London's