The former Cyprus embassy in London has been sold to an overseas buyer for £25 million (US$32 million) looking for a grand family home in the city, according to listing agency Wetherell.
The 8,435-square-foot property, which is steps from Hyde Park, was built in 1913, as a grand six-story Edwardian-style home. It served as the Cyprus Embassy from 1959, as its new government was formed, until the delegation relocated to St. James’s Square.
“This magnificent former embassy on Park Street was converted back into a mansion and has been purchased by an international buyer who wanted a family home in Mayfair,” said Peter Wetherell, founder and chairman of Wetherell. The agents did not identify the buyer, but described him as a “billionaire” from the Middle East.
The buyer was intrigued by the four palatial reception rooms, access to the Green Street Gardens and the private elevator, according to Robert Dawson, sales director at Wetherell.
The mansion has five bedrooms, including a principal bedroom suite taking over the second floor; a chef’s kitchen; wine storage; and a staff flat. The living room includes an ornate ceiling and the primary bathroom includes bright purple and green tiled walls with a flower design, images of the home show.
The former embassy was listed by Wetherell in August for £25 million. The property was sold unfurnished, which Wethrell said was challenging for a mansion in the Mayfair market, as most buyers prefer to see homes that are decorated and move-in ready. Wetherell used CGI to stage and design the house, which was a huge contribution to the sale of the property, according to the agents.
Before this, the mansion, originally designed by architecture firm Wimperis and Simpson, last traded hands in July 2012 for £10.67 million, according to Land Registry data.
Last year, £527 million worth of homes were sold in Mayfair, with an average sales price of £20.35 million, according to a recent Wetherell market report.
