North Wind Capital has put a freehold residential development opportunity in London’s Mayfair up for sale.
The Georgian-inspired mansion at 41 Upper Grosvenor Street occupies an entire townhouse in the heart of the Mayfair Conservation Area.
The property is offered with vacant possession and currently comprises eight residential apartments. The scheme has entered final pre-construction phase and represents a £100m GDV development opportunity.
Ben Williams, CEO of North Wind Capital, said: “We have delivered key planning milestones and secured development financing, which has naturally attracted strong unsolicited interest and makes this a natural moment to test the market. Buyers will be able to take forward an ‘oven-ready’ luxury residential redevelopment scheme, with transformation potential enhanced and delivery timing materially de-risked. North Wind Capital’s acquisition of the adjacent Reeves Mews car park earlier this year also provides embedded value and future optionality beyond the marketed scheme.”
Nick Alderman, head of Central London land at Knight Frank, which alongside Sotheby’s International Realty has been appointed to market the opportunity, added: “This is a rare opportunity to acquire a full block with scale, heritage, and exceptional redevelopment potential in the heart of Mayfair. Grosvenor Square’s £20m conversion into a world-class urban garden, completing in 2026, represents the largest private contribution to West End public green space in a generation and will significantly enhance amenity and value across Mayfair. The surrounding district, renowned for luxury retail, Michelin-starred dining and ultra-prime residences, continues to attract discerning global buyers. Given the site’s prominence and planning flexibility, we expect strong interest from domestic and international investors.”
Becky Fatemi, executive partner at United Kingdom Sotheby’s International Realty, said: “Demand for Mayfair is up due to the regeneration and injection of only the finest coming into the area. This includes the nearby £1.2bn Chancery Hotel’s grand opening, touted as the finest new hotel in Europe, news of Tramp’s first health and wellbeing club coming, as well as Blackstone’s new European HQ.
“The proposed refurbishment of the square itself by Grosvenor is only set to further elevate it as London’s most prolific address. We’re finding demand for properties in and around Grosvenor Square is up circa 28% compared to same period last year, notably taking away demand from other prime central London neighbourhoods such as Knightsbridge as Mayfair regains its crown.”
