A grand Edwardian mansion in the heart of Mayfair that was formerly home to an Arsenal Football Club chairman and later the Icelandic Embassy has sold for £22 million in the largest residential property transaction in the area so far this year.
The 6,949 sq ft Freehold residence on Park Street was jointly marketed and sold by luxury property specialists Beauchamp Estates and Clifton Property Partners to an ultra-high-net-worth “incognito” end user seeking a turn-key luxury family home in London’s most prestigious neighbourhood.
The off-market deal underscores the enduring resilience of the Prime Central London market, despite ongoing macroeconomic headwinds and highlights a growing appetite among global buyers for fully refurbished, move-in ready properties.
Steeped in history, the five-storey red-brick and stucco-fronted mansion was originally built between 1924 and 1925 by renowned Mayfair builders George Trollope & Sons – the same firm behind Claridge’s.
FOOTBALLING HISTORY
Designed by Wimperis and Simpson, the residence was first occupied in 1934 by Robin Vane-Tempest-Stewart, Viscount Castlereagh, a politician and passionate football supporter who served as Chairman of Arsenal FC. During the 1930s, the home hosted famous players including Cliff Bastin, Eddie Hapgood and Pat Beasley.
In 1949, upon becoming the 8th Marquess of Londonderry, Vane-Tempest-Stewart vacated the property, which was then purchased by the Government of Iceland.
ICELAND CASHES IN
For almost 60 years, it served as the Icelandic Embassy and the Ambassador’s official London residence – placing it at the centre of diplomatic tensions during the mid-20th-century “Cod Wars” between the UK and Iceland over fishing rights.
Photo Credit: Clifton Property Partners
The embassy also became a prominent social venue for the London property elite in the early 2000s as Icelandic banks – including Kaupthing, Landsbanki, and Glitnir – expanded aggressively in UK real estate, prior to their collapse in the 2008 global financial crisis.
Forced to divest high-value assets, the Icelandic government sold the Park Street mansion following the crash.
The property was subsequently restored to residential use and underwent a major modernisation, culminating in a full refurbishment by Dutch design icon Marcel Wanders and his award-winning Marcel Wanders Studio.
A TROPHY HOME REIMAGINED
Now meticulously restored and reimagined for 21st-century living, the seven-bedroom home blends classical elegance with cutting-edge interiors.
Accommodation spans lower ground to fourth floor, with standout features including a grand staircase, passenger lift, private roof terrace, and exclusive access to Green Street Gardens.
Photo Credit: Clifton Property Partners
The second floor is dedicated entirely to a principal bedroom suite with a walk-in dressing room and luxurious bathroom. Additional living space includes four further bedroom suites, four reception rooms and a lower ground kitchen/breakfast room with two more bedrooms.
Photo Credit: Clifton Property Partners
The home was sold “turn-key,” fully interior designed, dressed and ready for immediate occupation – reflecting current buyer preferences in London’s super-prime sector.
SEAMLESS SALE
Yahya Swallem, Senior Sales Negotiator at Beauchamp Estates, introduced the buyer and describes the deal as a landmark moment for the Mayfair market.
“Beauchamp Estates are delighted to have introduced the buyer who wanted a turn-key luxury family home in the heart of Central London. Mayfair continues to attract global buyers looking for both lifestyle and long-term investment.”
Robert Windsor, Co-Founding Director of Clifton Property Partners, who acted for the seller, adds: “This sale highlights the demand for move-in ready, design-led homes at the top end of the market. Buyers don’t want projects – they want perfection.
“We’re proud to have worked alongside Beauchamp Estates to achieve this exceptional result.”
With the transaction now completed, the buyer – whose identity remains confidential – joins the ranks of Mayfair’s most exclusive homeowners, in a residence that reflects the past century of British political, sporting and diplomatic life.
The Park Street mansion is now not only a landmark trophy home but a testament to the enduring appeal of Mayfair as a global address for wealth, history and prestige.
