The house at 39 Charles Street could be transformed into one of the UK’s
finest city homes worth a staggering £100 million after renovation.

The mid-18th Century home plans include seven palatial bedroom suites, eight
state rooms, a leisure complex and private cinema.

The main bedroom suite is spread across 2,000 sq/ft, which is twice the size
of the average new UK home, and includes his and hers dressing rooms and
bathrooms.

In plans for the house there is an eight person lift, a mews home for guests
or staff, a wine room, office, catering kitchen and a number of high
security vaults.

The property currently has listed Chinese wallpaper and silk wall mountings
which will be removed and reinstated as part of the refurbishment.

It has been put up for sale with estate agent Wetherell for a jaw-dropping £50
million.

This is more than 300 times the average price of a house sold in England and
Wales – and the price could end up rising with the possibility of offers
coming via sealed bids.

^{Restoring the property could cost up to £20 million (SWNS)}

Whichever billionaire wins the battle for Charles Street will then have to
spend £22 million restoring it.

But on top of the glamour of owning one of London’s finest homes, buying
Charles Street could also be a savvy investment.

When completed, the mansion will be worth in excess of £100 million – and this
value could DOUBLE within the decade with prices expected to skyrocket in
Mayfair.

Peter Wetherell, managing director of Wetherell, expects four types of people
to look at the home – Oil royals, African moguls, billionaires and property
developers.

He said: “£50 million is a lot of noughts and bandying out this figure
willy nilly needs a lot of thought given to why someone would even wish to
spend this much on one property.

“The key features of these £50 million-plus homes are opulent state
rooms, princely proportions and every leisure facility and luxury
imaginable.

“Everybody knows each other, and as they also do with their mega-yachts,
the competition and rivalry to create the world’s best trophy houses is
immense.

“We anticipate a fierce battle by super-rich bidders to snap it up. Once
converted it will be one of London’s most outstanding mansions.”

Mr Wetherell added he recently sold a ‘fixer-upper’ for £20.5 million after it
was initially marketed for £18 million.

The £50 million home on Charles Street is thought to have been built after
1750 by John Phillips and George Shakespeare after entering an agreement
with Lord Berkeley of Stratton whose ancestors had acquired the land during
the reign of Charles II.

Previous residents have included George Fieschi Heneage, MP for Lincolnshire
(1836-1867), The Earl of Camperdown (1867-1918) and The Marquis of Anglesey
in 1920.

After World War Two, 39 Charles Street – like many Mayfair properties – was
converted to commercial use.

But the area is undergoing its biggest overhaul in 100 years, with these grand
properties being converted back into homes for the super-rich.