A luxury Mayfair house “a stone’s throw” from the Ritz, W1, has come to market with a record guide price.
An £8.3m asking price has been set for seven-bedroom 20 Bolton Street in Mayfair, which will be offered by Countrywide and Hamptons International on 22 October.
It is being sold on behalf of a private Middle Eastern client. The price reflects the highest asking price ever set for a single home at auction, according to Essential Information Group.
If sold at the asking price, a sale would exceed the existing residential freehold record of £5.9m, set by Barnett Ross in 2003 with a mansion block on Finchley Road, NW11, according to EIG.
Mark Tanton, head of London auctions at Countrywide, said: “It is uncommon to see a prime Mayfair single residential building a stone’s throw from the Ritz come to auction. But it is a fantastic way for the vendor to sell quickly and get a strong price.”
The building produces rental income of £26,000 per month and there is a lease break in February 2015, which could see a rent increase.
The residential market performed well in September, said EIG, with sales of around £362m, compared with £306.8m in September 2013.
The auction will take place at Le Meridien Hotel, Piccadilly, W1. The property is one of 65 residential-led lots on offer.
