John Caudwell, the billionaire founder of Phones4u, has claimed his new property development in Mayfair will be the “world’s most expensive and prestigious apartment block”, surpassing the Candy Brothers’ One Hyde Park.
The entrepreneur, who turned to property after selling his mobile phone company for £1.5 billion in 2006, plans to convert a 1960s multi-storey car park in the heart of Mayfair into 30 luxurious flats.
“I see London as the epicentre of the world and I see Mayfair as the epicentre of London. Therefore, I see my building site as the epicentre of the world,” Caudwell told City A.M. “I can’t think of anywhere better for people to live.”
Caudwell suggested his apartment block could be more expensive than One Hyde Park, a Candy Brothers development which launched at £6,000 per square foot.
“I do like One Hyde Park so I’m not going to condemn it but it’s not timeless. Will it be old and wonderful in 200 years’ time? I think it’ll be as wonderful as I’ll be in 200 years. It’ll be a decaying monstrosity,” Caudwell said.
Due to go on sale in 2021, the Portland stone-clad residence on Audley Street has been designed by American architect Robert Stern and will come with a spa, gym and swimming pool.
“I’ve got the most amazing spa designed by the world’s best spa designer,” Caudwell said. “I’ve got the world’s best palace designers to do the interiors and public spaces. I don’t want to make it too ostentatious but enough so that people say ‘wow, this is absolutely beautiful’.”
Caudwell was recently ordered by the court to pay £500,000 in damages to his former financial adviser, after it was found she was wrong dismissed despite fiddling her expenses.