Feanor Capital Partners buys £35m Mayfair gem for refurbishment with REDD

London, March 2024: Feanor Capital Partners, a UK-based real estate investor with a European presence, has acquired the freehold of 41 Upper Grosvenor Street, a landmark mixed-use Mayfair property.

The 22,000 sq ft freehold sits immediately opposite the Monaco embassy and diagonally across from The Chancery by Rosewood, the luxury hotel redevelopment of the former United States embassy. That scheme is set to reposition the western side of Grosvenor Square into a hub for luxury retail and dining, opening public access to a site that was previously restricted.

Redeveloped in the early twentieth century, the property offers exceptional volume and light across the combined main house and mews. Despite its prime location, the asset has stood empty since Schroders vacated it in 2000 and requires substantial refurbishment. Feanor Capital Partners took possession for circa £35 million from Merrick, using an acquisition facility from Cohort Capital.

The acquisition offers a rare opportunity to restore a long-overlooked Mayfair building. Feanor will work with its joint-venture partner REDD Real Estate to unlock the asset's potential, in what the firm intends to be the first of several prime London redevelopments alongside its preferred developer.

ENDS.