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Wetherell, in a joint venture with UK Sotheby's International Realty, has brought the sixth and seventh floors of Aldford House on Park Lane to market with a guide price of £50 million. The floors are currently in shell condition and together comprise four apartments totalling 18,910 sq ft, with existing planning consent for refurbishment and the creation of two additional penthouse apartments.
- Guide price: £50 million
- Total area: 18,910 sq ft across two floors
- Current configuration: four shell apartments
- Planning consent: refurbishment plus two new penthouse units
- Effective rate: approximately £2,500 per sq ft
A 1930s Grande Dame With a Rare Pedigree
Aldford House occupies the corner of Park Lane, Park Street, Aldford Street and South Street, and was built between 1930 and 1931 by the architectural partnership of George Val Myer and FJ Watson-Hart.
The building carries a notable cultural footnote: from 1950 to 1964, the top-floor apartment was home to British film actress Dame Anna Neagle and her husband, producer and director Herbert Wilcox.
The sale proposals also include the reinstatement of art nouveau-style iron and glass entrance doors to the Park Street entrances, alongside the removal of later timber additions, positioning the restoration as both a residential and heritage project.
The freehold has recently been purchased by the building's residents, which Peter Wetherell, founder and executive chairman of Wetherell, described as the backdrop to the opportunity: "a chance to be part of the restoration of one of Park Lane's 'Grande Dame' buildings from the 1930s building boom."
Why the Pricing Argument Is Unusual
Simon Burgoyne, sales director at UK Sotheby's International Realty, pointed to the £2,500 per sq ft entry point as unusually competitive for the address.
He noted that current planning constraints make it effectively impossible to create large lateral apartments of this scale anywhere on Park Lane today, meaning buyers are acquiring something that cannot be replicated under present-day rules.
For buyers willing to take on a shell-condition asset and carry the cost of fitting it out, the opportunity to define the specification of a large Park Lane apartment from scratch is the core of the pitch.
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