New Mayfair street is the capital's most expensive with the most houses sold over £10m in 2019

Aaron Comfort    |    15 Jan, 2020

A newly created street in Mayfair has become London’s hottest address with more sales over £10 million than anywhere else in Britain this year, according to a survey.

Six transactions exceeded the £10 million mark at Ashburton Place, a new road at the back of the Clarges Mayfairdevelopment on the north side of Piccadilly. 

The sales added up to more than £165.4 million and averaged almost £27.6 million.

The most expensive sale was a penthouse that fetched £56 million in November last year.

 

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Ashburton Place was “opened” by former Westminster deputy council leader Robert Davis in 2017, when it was claimed to be the first new street in Mayfair since Curzon Square in 2002.

Analysis by London estate agents Benham & Reeves found a total of 79 sales registered in eight-figure territory, with a total value of £1.4 billion — more than the entire GDP of The Gambia.

The next most active £10 million-plus streets were Avenue Road in St John’s Wood with four sales, followed by Wilton Crescent in Belgravia, Tregunter Road in Chelsea and Campden Hill in Kensington with three each.

The survey uncovered a further 917 sales valued at between £3 million and £10 million, with a combined value of £4.1 billion, more than the GDP of Somalia.

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The highest number of sales in this bracket was 51 registered on Blackfriars Road in Southwark, where Berkeley’s residential skyscraper One Blackfriars is based.

Next came The Bishops Avenue in Hampstead and Chiltern Street in Marylebone, which recorded 13 sales each.

Benham & Reeves managing director Anita Mehra said: “To have seen as many as six sales transact over the £10 million mark on one street alone is proof that London remains one of, if not the, most desirable market in the world, despite the tougher landscape.

“In addition to this, it seems as though we have seen the bottom of the market over the past few months. There has already been a notable uplift in buyer and seller activity which is already stimulating the prime and super-prime markets.”

 

Source: https://www.homesandproperty.co.uk/luxury/property/londons-most-expensive-streets-brand-new-mayfair-road-is-the-capitals-hottest-with-the-most-house-a135106.html