The cost for one of London's most pricey apartments will begin at £35million - with 600 megarich customers already securing a 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 to <br>
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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 <br>
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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 <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 <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 lateral apartments,<br>
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penthouses and townhouses with up to five bedrooms, and five more smaller 'pieds-à-terre' <br>
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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 of mansions in London's richest <br>
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neighbourhoods. <br>
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The average price of all 29 units - which cover 300,000 sq ft - <br>
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will be close to £70million. <br>
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The cost of London's most pricey apartments will begin at <br>
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£35million - with 600 megarich customers already <br>
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securing a spot on the 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 <br>
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now been revealed and only those with the deepest pockets can hope to afford one of the <br>
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lavish 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 value of around £500,000,<br>
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and 130 times the national average price of £268,000 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 to <br>
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make 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 <br>
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Stern and practice RAMSA, with 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 years <br>
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build the scheme will easily surpass London's previous record breaker,<br>
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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 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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Pictured: A glamourous hallway within Mayfair 1<br>
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Be the first to commentBe one of the first to commentComments<br>
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Would you spend £35M+ on a luxury London apartment?<br>
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Comment now<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 <br>
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construction team.<br>
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The ceremony was marked by the final steel rafter, one <br>
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of 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 <br>
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will feature a ceiling with hand-painted frescos based on Michelangelo's <br>
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Map of the Heavens in the Vatican, a reception room with <br>
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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 <br>
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over 1,264 hand-set pieces of cut glass, a library and a garden gallery, with seating areas opening <br>
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directly onto the central courtyard garden.<br>
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The cost for one of London's