Knight Frank unveils exceptional mixed-use prime central London development opportunity in Mayfair
The Residential Development Land team is bringing to market, a rare mixed-use development opportunity located at 32 & 33 North Row, in the heart of Mayfair.
19 May 2025
London, 28 April 2025 – The Residential Development Land team of global property consultancy Knight Frank is bringing to market on behalf of North Row Operations Limited, a rare mixed-use development opportunity located at 32 & 33 North Row, in the heart of Mayfair. The site has a gross development value (GDV) of Circa £12 million.
The development consists of two elegant four-story terraced properties, combining retail and residential spaces. The site benefits from a Circa 150-year long leasehold from the Grosvenor Estate at zero ground rent, along with fully approved planning permissions for ground-floor modifications and residential extensions. With a combined gross internal area of approximately 4,631.7 square feet, it presents a significant opportunity for strategic commercial and residential development.
Nestled in the renowned Mayfair district, the site is located just steps away from iconic locations with exceptional connectivity including Bond Street and Marble Arch. Developers will find the property situated in a location renowned for its world-class amenities, including luxury boutiques, Michelin-starred restaurants, and exclusive members' clubs.
Nick Alderman, Head of Central London Land Agency at Knight Frank, said: "We are excited to bring this rare opportunity to market. Prime Mayfair sites with mixed-use potential are highly sought after, therefore 32 & 33 North Row the stands out as an outstanding investment.
“With full planning approval and a long-term lease, it blends historical prestige with modern development potential, making it a truly exceptional asset in one of London’s most prestigious real estate markets."
Recent Knight Frank research indicates a positive outlook for the London property market, with projected UK house price increases of 2.5% for the remainder of 2025 and continued modest growth into 2026. According to Knight Frank, the capital’s current market conditions, characterised by stabilising interest rates and increasing buyer confidence, make this an opportune moment for strategic property investment.
Notes to editors
Knight Frank LLP is the leading independent global property consultancy, serving as our clients’ partners in property for 128 years. Headquartered in London, the Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the Firm, please visit www.knightfrank.com.
