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November 26, 2010
Amazon Properties Acquisition on Pall Mall, Near St James's Palace
Amazon Properties recently acquired two adjacent sites along Pall Mall, a stone’s throw from the St James’s Palace in SW1 totalling more than 7,000 square feet. This marks its second recent portfolio addition, following its acquisition of another 7,000 square feet space on Maddox Street in Mayfair, W1. Both are intended for conversion into luxury residential spaces, possibly including retail on the ground floors. The deals went through for £6.2 million and £6.0 million respectively. Amazon stepped in when other bids has fallen through, a testament to the value of constantly keeping eyes peeled and ears open to deals happening in this city. Attempting to capitalize on a strong demand for high-end residential spaces in central London from overseas, Amazon boasts a robust track record of luxury development in the Capital.
Amazon’s redevelopment of a series of Portland Stone buildings in Marylebone, which incorporated over fifty luxury apartments, is perhaps the most notable. By redeveloping existing structures rather than focusing on new construction, Amazon has provided chic, modern residences which still radiate London charm. While minimalist apartments are eye catching and stylish, their international style could easily blend in with new developments in the Lower East Side in New York or the new glass cube homes in the hills north of Seoul. Whether they’re coming from the Far East or America or anywhere in between, what most buyers seek when searching for property in London is something with that unique London charisma. This could be a mews house, a mansion house on a garden square, or even a recent luxury conversion by a high-end developer like Amazon.