John Caudwell’s1 Mayfair apartmentsare getting ready for sale whenvaluations are tumbling and discounts are deepening.
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Title PageBritish billionaire John Caudwell placed a big wager on London’s property boom in 2011 when he stumped up about £150 million ($191 million) for a car park in the exclusive Mayfair district to build some of the UK’s priciest homes.
The 1 Mayfair project — with a gross development value of £2 billion and each of the 29 stately home-inspired apartments averaging about £70 million — is now nearing completion and is set to hit the market soon. But the timing couldn’t be more awkward.
