Investors around the world are being offered the opportunity to buy a stake in the prime London property, that is currently home to French luxury fashion house Céline, for just £500.
Following yesterday’s news that stakes in Lord’s Cricket Ground were up for grabs for the same amount, property investment firm New Commonwealth is now putting 103 Mount Street up for sale, piece by piece.
New Commonwealth’s business model is based on unique blockchain technology and its aim is to open up prime property ownership to the many, as opposed to leaving it in the hands of the privileged few.
It is not known how many £500 stakes are available in the prestige Mayfair property, which is nestled among dozens of other luxury retail outlets for brands such as Christian Louboutin, Lanvin and Goyard, and opposite the Connaught Hotel, but is believed thousands of investors will get the chance to purchase a stake.
“In purchasing a piece of Mayfair, you are not only acquiring the bragging rights to one of London’s prized assets, but also a share in an asset with a healthy rental income. Because 103 Mount Street is home to affluent commercial tenants as well as the iconic retail brand Céline and its ground floor flagship store, returns do not come more stylishly than this,” said New Commonwealth of the opportunity.
Would-be investors are now being invited to pre-register for Mayfaircoin, which it says is “a simple way to buy into one of the capital’s most aspirational districts”, on the New Commonwealth website.
Just as cricket enthusiasts are expected to jump on the opportunity to buy into Lord’s, so fashion fans are expected to be drawn to the chance to own a piece of their favourite store. LVMH-owned Céline, which is about to undergo a transformation under new artistic, creative & image director Hedi Slimane (who will also be launching couture and menswear), counts Megan Markle, Kanye West and Kim Kardashian among its devotees.