The Christou brothers’ 1.61 London plans to develop multiple luxury projects in Central London with partners Urbanise and Valpre Capital. A debut site in Mayfair sets the tone…
Luxury property design/development firm 1.61 London has teamed up with property developer Urbanwise and investment company Valpre Capital to create a new Joint Venture, with ambitions to bring forward “multiple projects” across Central London.
A debut acquisition sets the tone, promising a £40mn GDV prime resi development between Claridge’s and Grosvenor Square in the heart of Mayfair.
Tucked away in Three King’s Yard, a gated private road off Davies Street in W1K, the recently-acquired site has planning consent for a boutique scheme of ten high-spec new-build apartments.
Units will range from one-bedroom apartments to duplex penthouses, with private terraces, a communal gym and porter service.
The Three King’s Yard site was offered for sale back in 2018, with planning consent for a ten-unit residential development designed by BB Architects. A revised proposal by 1.61 has since been approved, promising the same number of apartments but with slightly more space, more cycle parking, and a ground-source heat pump.
Construction is due to start imminently, with completion slated for Q3 2023.
1.61 London was set up in 2010 by Eton-educated brothers, Alexander and Michael Christou. The Mayfair-based design and development operation has worked on a range of super-prime projects – including a “Gatsby-esque” 40,000 sq ft new-build family mansion in Surrey and a 35,000 sq ft contemporary house in Los Angeles, as well as interior designs for Blue Chip developers and private clients.
Urbanwise Developments specialises in London residential and mixed-use schemes, and has a current pipeline with a GDV of nearly £300mn. Projects have included Brigade Court in Southwark (the old Southwark Fire Station; a 200-unit JV with Goldman Sachs with interiors designed by 1.61), Callis Yard in Woolwich (featuring penthouse interiors designed by 1.61) and Grafton Quarter in Croydon.
Valpre Capital is an investment firm based in London, Dublin and Luxembourg, founded in 2018 by Mohamed Ali Beyhum, Mazen AbouChakra and Ahmad M. Hariri. It focuses on residential real estate and purpose-built student accommodation in the UK and Ireland, as well as private equity plays.
Alex and Michael Christou, Founders of 1.61 London: “We have dedicated ourselves to delivering a truly exceptional experience for our clients with the highest levels of design, craftmanship and service. We are incredibly excited to be working alongside our partners Urbanwise with their wealth of construction expertise and Valpre Capital who bring deep financial experience and investment capabilities to the JV.”
Keith Ewart and Keith Allington, founders of Urbanwise Developments: “Three Kings Yard is undoubtably an exceptional location for the JV’s first development. At the heart of this new venture is the 1.61 London design brand which as its ever-growing following demonstrates is showcasing a much needed and refreshing update to prime luxury interior design.”