International property firm has plans to create £10m London duplex following historic building sale

Monaco and London multi-national luxury property company REDD has acquired an Edwardian property at 7 Charles Street in Mayfair and obtained planning permission to create a new £10m duplex residence.

Located over lower ground and ground floor levels, the property at 7 Charles Street currently provides 2,868 sq ft of space and is located within a Grade II listed Portland- stone clad Arts and Crafts style mansion building, constructed in 1900 and designed by architect F M Elgood.

REDD appointed James Bell of architectural practice MSMR to devise plans for the transformation of the property into a duplex garden residence.

Jacopo Marzocco, founding director of REDD, said: “We plan to grow our London client base and expand the number of properties under development and management.

“As part of our ambition to become an international brand we are constantly reviewing other real estate opportunities in wealth destinations across the world.”

Russell Smithers, managing director of the REDD operation in London, added: “REDD is delighted to have gained planning consent for this magnificent new luxury residence within this grand listed building.

“The completed duplex will be Mayfair’s finest garden apartment and is part of our ongoing expansion plans in London’s best addresses. We have recently announced our first multi-unit development at Balfour Place and are looking at other multi-unit residential development opportunities across Prime Central London.”

The plans have recently gained planning consent from Westminster City Council and allow for the creation of a duplex residence with entertaining and reception rooms on the upper level and bedroom suites on the lower ground floor.

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