Property developers 1.61 London and Urbanwise have partnered with investment firm Valpre Capital to create a new Joint Venture (JV) with plans to purchase and develop multiple projects across Central London.

The JV has recently made its first acquisition on a £40 million gross domestic value site in the heart of Mayfair with planning permission for a new multi-unit residential development.

Tucked away behind private gates on a quiet, private road, the flagship residence will provide the ultimate privacy and luxury whilst being a stone’s throw from Bond Street and Grosvenor Square.

The JV has planning permission to transform the site into a boutique collection of 10 new super-prime homes ranging from one-to-three-bedroom apartments and duplex penthouses, with private terraces, communal gym and porter service.

Construction will begin shortly with an estimated completion in Q3 of 2023.

Alex and Michael Christou, founders of 1.61 London, comment: “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, add: “Three Kings Yard is undoubtedly 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.”