£25m Grosvenor Square Apartment Still Needs A Makeover

What is described as an ‘ambassadorial apartment’ and the finest in Grosvenor Square has come to the market at £25m. But the selling agent says that it is still in need of renovation to achieve its full potential.

The 5,000 sq ft first floor apartment offers three reception rooms, an impressive entrance hall, family kitchen, library, bar, five bedrooms, four ensuite bathrooms and a 63 ft balcony and south facing terrace. The property has an illustrious history being formerly the London home of Artemis Onassis, sister of billionaire Aristotle.

Peter Wetherell, Chief Executive of selling agent Wetherell says: “With its iconic address, balcony and terrace and garden square views this expansive Mayfair residence at 47 Grosvenor Square is the finest apartment in Grosvenor Square. This is a trophy property, which would serve as an excellent long term investment and main London residence. The apartment would benefit from a refurbishment to provide the latest specification and interior dressing but such a makeover could add an additional £1,000 per sq ft to the value of the property.”

Wetherell points out that Grosvenor Square is currently benefitting from a makeover of its own, with former embassies being redeveloped as high end apartments and a luxury hotel and public realm works to create a new piazza.

Twenty five million pounds is quite some asking price for a property that appears to be something of a project. However, it is indicative of the standing that unique properties in this ultra-exclusive location command. The opportunity to make £5m by fixing it up is sure to appeal to plenty of wealthy buyers or high end developers.

Source Wetherell
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