Despite lacking modern updates, a Mayfair apartment has achieved a remarkable sale price of nearly £22 million, marking a new record for the St James’s area of London.

Situated on St James’s Place, this four-bedroom property, sold through Oliver Bernard agents, garnered an impressive price per square foot of £5,093. This accomplishment places it among the select few properties in the region to achieve a value exceeding £5,000 per square foot.

What distinguishes this luxury dwelling is its unaltered state at the time of sale. Unlike many properties in the area that are typically renovated before entering the market, this apartment was presented in its original condition.

Charlie Gibson, the managing director of Oliver Bernard, highlighted the opportunity this fifth-floor apartment presents, emphasizing its potential for transformation into an exquisite residence.

Notably, the previous record for an unrenovated apartment sale in the Mayfair & St James area was established in March 2022, when a Cleveland Court property commanded £4,597 per square foot.

The St James’s Place apartment marks the third sale above £20 million recorded this year, representing one of only eight such transactions across all of London in the same period.

The property was acquired off-market by an undisclosed East Asian buyer, limiting its exposure to a select group of potential purchasers. Situated within a building comprising six apartments in total, the residence boasts features including two kitchens, an art studio, and scenic views of Green Park.

Charlie Gibson highlighted the significance of a residence overlooking Green Park, emphasizing its premium appeal. He also noted that the exclusivity and privacy of St James’s, coupled with the exceptional security it offers, naturally attract influential individuals from around the world. Photo by London: the bottom of St. James’s Street by Chris Downer, Wikimedia commons.