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British Land makes £200m profit on luxury Mayfair flats

Grant Prior 5 years ago

British Land has banked £200m profit on its Clarges luxury residential scheme in London’s Mayfair.

The developer confirmed the figures in its latest results today.

It said: “This has been a highly successful scheme for us, having delivered total profits of £200m to date.”

The scheme was constructed by Laing O’Rourke with an original build cost of £180m.

British Land has sold 30 of the completed apartments for £415m – at an average of nearly £14m each.

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