Prime London Residential has acquired 21 Grosvenor Gardens from Grosvenor, securing the business its second office location and a foothold in Belgravia.

Founded in 2013, Prime London has rapidly established itself as London’s leading independent agency. Headquartered at Palace View, Lambeth Road, with over £1bn of assets under management and averaging 800 transactions a year, the business is specialised in new-build riverside and super prime, often niche buildings.

Most recently, Prime London worked alongside Australian developer, Third.i, to launch The Doulton, a scheme that is widely regarded as the most premium development on the river.

21 Grosvenor Gardens will complement Prime London’s current offer, giving the agency coverage in London’s historic prime markets. Demand for their services in these markets has been increasing exponentially from both developers and private clients alike, given the increasing number of super prime residential schemes being brought forward.

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.

Prime London’s acquisition of 21 Grosvenor Gardens, SW1W 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.

Joseph Cadman, founder and MD, commented: “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.”