Prime agent purchases historic Belgravia building

Prime London Residential, which describes itself as London’s largest single branch agency, has acquired 21 Grosvenor Gardens from Grosvenor, securing the business its second office location and a foothold in Belgravia.

The acquisition is the first time the building has been sold since its construction for the Grosvenor family in 1867.

The landmark listed building is undergoing an extensive internal fit-out to create three floors of new office space. It is anticipated the office will open early in the new year.

Prime London said the acquisition will complement its current offer, giving the agency coverage in London’s historic prime markets. 

Expanding north of the river will also enable the continued expansion of the business and growth of Prime London’s sales, lettings and asset management teams.
Founded in 2013, Prime London has more than £1bn of assets under management and averages 800 transactions a year.

The business specialises in new-build riverside and super prime, often niche buildings. 

Joseph Cadman, founder and managing director of Prime Residential, said: “This significant investment is a testament to the fantastic work and commitment of my team.

“It is the next logical step for the business and is a sign of our confidence in the London market. 

“Numerous factors over the last decade, including legislative and tax changes, the global pandemic, multiple elections as well as Brexit have undoubtedly reshaped the market, and we have emerged refined and stronger each time as a business. London’s appeal, rooted in its rich history, cultural diversity and economic significance remains intact, and for those seeking to secure a prestigious address and a wise investment, it is still the best city in the world to do so.”