£40m for Mayfair mansion


10 Stanhope Gate is in the heart of Mayfair, close to Hyde Park, the Dorchester Hotel, and near Mayfair’s most important streets and amenities.

Originally offered with a price tag of £50m, property research group Prime Resi are reporting that this Georgian mansion has sold for in excess of £40m thus brushing off Brexit related market anxiety.

The property is on six storeys – with all floors, from lower ground to roof terrace, connected by both stairs and passenger lift and has completely been refitted at a cost of £4.5m.  Depending on whether this is a first or second home for the new buyer, the stamp duty land tax on this acquisition will be £5m or £6m.