Investors from the GCC are being courted to plough their cash into what has been described as “the world’s most desirable address”.
Lodha UK, the London-based development subsidiary of Lodha Group, is re-launching its GCC sales campaign for No. 1 Grosvenor Square.
The sought-after development, which includes 44 residential units, is located in the heart of London’s prestigious Mayfair district.
The sales campaign is enhanced by the opening of the Residents’ Club & Spa which houses a private gym, swimming pool, spa and cinema, in lockstep with the emergent focus on health, wellbeing and holistic living accelerated by the pandemic era.
Gabriel York, co-CEO, Lodha UK, said: “Even before Covid-19, well-being was an important consideration for our buyers. The experiences of Covid-19 and lockdown have made mental and physical wellbeing perhaps the most singular important factor for many of our customers now.
“Our customers are asking themselves, ‘could I happily survive another lockdown here?’ and ‘will living in this property enhance or detract from my physical and mental wellbeing?’
“Enhanced leisure facilities, and the supporting services around them, are a very important part of a customer’s assessment of those two questions, and they have become a very important factor in customers’ decision-making processes.”
Gabriel York, co-CEO, Lodha UK
Although some uncertainty surrounded the fate of investments in London-based properties following Brexit, it was not a grave concern for GCC investors, according to Henry Faun, partner, private office at Knight Frank speaking at the inaugural Arabian Business Money Forum last month.
Faun likened the impact Brexit had on the appetite of GCC investors eying property in London to a “storm in a tea cup”.
“There’s a lot of noise made about it, but in reality, if you’re someone coming from the GCC looking to spend time in London this summer, it doesn’t make any difference to you. Brexit has actually been a much smaller consideration relative to everything else,” he told the forum.
The square’s esteemed heritage dates back to the 1700s, around the time the respected and affluent Grosvenor family, credited with the development of large areas of Mayfair, created several squares lined by luxury townhouses.
The square has been home to many influential characters from history, including Samuel Johnson, who collated one of the first English dictionaries, and the celebrated British playwright Oscar Wilde.
Follow us on
