Home Commercial Property London's oldest car park might become £500m luxury complex

London's oldest car park might become £500m luxury complex

by LLP Editor
28th Apr 15 11:33 am

London’s oldest car park could be converted into a £500m luxury complex boasting flats, private members’ clubs and art galleries.

Built in 1907, the Carrington Street car park in Mayfair is being eyed up by several wealthy investors.

Allford Hall Monaghan Morris, the architects behind Google’s King’s Cross HQ, have proposed three ideas for turning the space into a luxury complex.

Peter Wetherell, chief executive of Mayfair agents Wetherell, said: “In the last 10 years Shepherds Market has undergone an incredible transformation. At its lowest point a decade ago it was a seedy sister to Soho, and a hangout for Park Lane prostitutes, run down cafes and plant hire shops.

“The flats that did exist were all tired and outdated and Shepherds Market is where the super-rich of North Mayfair housed their staff who couldn’t stay in the staff wing of their mansions. Now the location has been completely transformed.

“What we have seen on Mount Street further North in Mayfair is now being replicated in Shepherds Market. There’s a host of luxury residential development going on and residential values, retail rents and lettings values are all rising in the local area.”

 

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