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Mayfair’s Record Rental

23.02.21

The mega-mansion, Culross House in Mayfair, has been rented out for a record £1.55 million per year to a 24-year old Chinese heiress who paid £3.1 million upfront to seal the tenancy. The deal – which equates to a rent of £130,000 per month - is the largest ever paid to rent a new home in Mayfair and is also the largest upfront payment ever made to let a London home.

Newly built Culross House, which is valued at £32 million. The young Chinese heiress, whose billionaire family made their fortune on the mainland and in Hong Kong from property, fashion and IT, was looking for a London pieds-à-terre, providing a base for her visits to London with her boyfriend, housekeeper/cook and personal security team. She wanted something newly built in Mayfair and worked with a London based advisor who helped her to find this magnificent home.

Despite the large sums involved, the heiress has been shrewd since the £3.1 million is still less than the £4.39 million Stamp Duty she would have had to have paid if her family had purchased Culross House. In addition, when compared to the cost of renting a 5-star hotel suite in Central London the mansion provides excellent value – the agreed rental for Culross House equates to £4,246 per night for 8,051 square foot of private living space including five bedroom suites, private gym, swimming pool and rear garden.

Located on Culross Street in Mayfair, directly adjacent to Hyde Park and Park Lane, Culross House, is a magnificent newly built townhouse-mansion which consists of the transformation on the site of the Coach House of the Earls of Essex, into a new five bedroom ambassadorial house, complete with cinema/club room, swimming pool, spa complex and private rear garden.

With features including a glass lift, Hermes bedroom suite and marble entrance hall the specification, interior design and dressing for Culross House has been created by K10 Group working closely with K10 Group’s leading international interior design team. K10 Group has designed the interiors of Culross House to be a celebration of the ‘Best of British’ classic design, with key rooms inspired by famous five-star hotels and VIP venues from around the world.

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