 47
Park Street
Like many widely-travelled and well heeled people, the 1st Baron Milford
made a rather costly mistake when he bought his London home. Attracted
by its fine Edwardian-style elegance and its excellent Mayfair address,
the shipping magnate and racehorse owner purchased 47 Park Street in
1927. However, his many commitments meant that his vision of a townhouse
for sojourns and entertaining in the capital came to nought. "He
actually never stayed here. He built it as his London pied-a-terre but
never used it," says Christian Jensen-Broby, 47 Park Street's project
director.
The irony of this story is that 47 Park Street is now an exclusive
residence club, designed to appeal to those discerning members who, like
Lord Milford, love the finer things in life that a five-star hotel has
to offer, but who do not always have the time to stay for long periods
in a London pied-a-terre.
Christian explains: "This fits the bill for so many people, especially
the corporate market,who may have many other housing alternatives, but
who want to stay somewhere that does not feel like a hotel, yet which
has all the services." Opened in 2001 by the Marriott International
hotel group after substantial refurbishment, the aim of 47 Park Street
is to give the member an "interest" in the residence. It's something
known as "fractional ownership" - a new concept that is already very
opular in the United States and which is set to take hold in Europe.
Indeed, more than 50 per cent of members come from the USA, while around
35 per cent live in Britain and use the residence on business and social
visits. The rest of the clients come from continental Europe. other
Marriott hotels around the world. "It's also fully transferable and you
can incorporate it into your company," adds Christian.
Interestingly enough, however, very few members' unused allocated nights
find themselves on offer."We are finding that many members are actually
buying up second blocks. In fact the average member owns a 1.3
interest," Christian points out.
If you do use up your 21 days then you are given the opportunity to stay
at 47 Park Street for almost as many extra days as you wish for just
over £100 per night. So, says Christian: "The more you use it, the more
attractive it becomes. The scheme offers a completely flexible package
which is unique."
Some suites have proved particularly popular, such as the spacious
onebedroom deluxe residence on the ground floor. At one point booking
for this suite had to be put on hold. "It's done purely on a supply and
demand basis," says Christian and he warns prices will escalate as new
members are enrolled due to limited availability.
So what is the particular appeal of this exclusive club with a split
personality? "We like to think of it as a home from home for our
members, but with all the comforts of a five-star hotel. It's so
flexible," says Christian. Flexibility is, indeed, a key selling point
of 47 Park Street. You can either retreat into your own suite, making
your own meals in your very own kitchen (groceries can be delivered) or
you can take advantage of 24-hour room service.
Alternatively, you can indulge in all the social activities that are on
offer, such as the bi-weekly champagne receptions. There is even a
connecting door into the double Michelin-starred Le Gavroche restaurant.
Discretion is another by-word at the residence. "If you want to be
noticed you go to the Dorchester or the Grosvenor," says Christian."Our
members have chosen this because of the space, intimacy, Memberships are
available in 21-day interests lasting until 2050. One-off payments range
from £99,000 for a onebedroom executive residence to £168,000 for a
two-bedroom deluxe residence. Thereafter a payment of £4,000 a year
means that you can stay at your London "home-from-home" whenever you
choose.
We have done studies which show the average cost of a comparable suite
at a five-star Mayfair hotel are up to £1200 a night," says Christian.
"But after the initial investment of membership here, the price per
night of a suite is less than £200." Compared with the capital outlay on
a Mayfair property, together with taxes and maintenance costs,
membership is undoubtedly a "smart" way to stay in London. As Christian
puts it: "It's a new concept in the pied-a-terre. You don't actually pay
when you're not ‘a terre.'"
Another advantage of membership is that any unused nights can be rented
on the members' behalf by Marriott Grand Residence Club or traded for
stays at discretion and the superior type of service we offer from the
moment you walk into the lobby. What you have here is a private
residence combined with a small prestigious hotel, wrapped around
membership privileges." Those privileges are, indeed, tempting and
diverse. There is complimentary membership to the exclusive Pasley-Tyler
42 Berkeley Square Club, a business club which provides meeting spaces,
executive administration and fine dining. Just around the corner is the
luxury Spa Illuminata, which offers complimentary treatments and
preferred pricing to members and for golfers there is even the
opportunity to secure coveted weekend tee times at the Jack Nicklaus-designed
Heritage Course at the London Golf Club, less than an hour away in Kent.
Membership of the British Luxury Club also means that "invitation only"
events, such as an exclusive party at the Monaco Boat Show, are
accessible. Special arrangements with the Royal Opera House in Covent
Garden give members access to opera and ballet tickets that are
unavailable to the general public, along with behind-the-scenes tours
and events.West End theatre tickets can also be secured.
But perhaps what sets 47 Park Street apart from many of the larger, more
impersonal luxury hotels is its level of service. Says Christian: "At
the heart of this operation is the concierge staff, several of whom have
been here for many years." (Before Marriott bought the building it was
owned and run as a hotel by Albert Roux.)
Take for example the head concierge, Peter, who has been at 47 Park
Street for 20 years and who speaks seven languages. "He has such a
discreet relationship with guests he even gets invited to their homes,"
smiles Christian. The chairman of a major global corporation even once
invited him to his home in the Hamptons."The reason is he remembers
everything and he anticipates things unlike any other concierge I have
ever met."
Peter's attention to detail is not confined to knowing the names of
every pedigree dog belonging to members. Once, for example, when a
Swedish aristocrat was staying, Peter went to Heathrow airport on his
way into work from his Oxford home each morning, so that the member
could have a Swedish newspaper ready on the breakfast table during his
stay. It is this aspect of making members feel welcome and at ease that
is particularly popular with well-seasoned travellers who are tired of
living out of suitcases and being served by staff who don't know them
from any other guest.
"You can even store your own personal belongings here, such as pictures
and objets d'art, which will be displayed in the room before your
arrival," says Christian. Not only that, but as well as stocking the
refrigerator with your favourite goodies, staff will even unpack for you
should you wish it. Apart from making members feel totally at home, mail
can also be directed to the residence throughout the year, giving guests
their own prestigious Mayfair address. "You are almost buying yourself a
London lifestyle," says Christian.
With property prices so high in central London and hotel suites so
impersonal, 47 Park Street's concept of "fractional ownership" seems to
make good sense. As one member puts it: "For people who want a second
place in London, this is perfect since it's impossible to buy in Mayfair
at a reasonable price."
47 Park Street,
Mayfair,
London W1K 7EB
Tel: +44 (0) 20 7950 5528
www.47parkstreet.com
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