William Whiteley, a dreamer and a draper, began his retail empire in west London in 1863.
Over the next five decades, despite a suspicious number of fires that caused rebuilds and changes of address, it expanded to become one of the world’s pioneering department stores.
The culmination of his ambition was a purpose-built store in Queensway – a stone’s throw from Hyde Park and Kensington – which opened in 1911 and was claimed to be the largest shop in the world, boasting that the discerning shopper could buy anything from a pin to an elephant.
However, it came too late for him – he was killed in 1907 by a man claiming to be his illegitimate son and the store had been purchased by American retail entrepreneur Harry Gordon Selfridge of the eponymous Oxford Street department store.
After thriving for generations, even being cited as the “common knowledge” location to buy a dress in the 1964 film My Fair Lady, it befell the same fate as many focal point stores in cities across the UK and lost its lustre.
Now, seven years after it closed its doors, it has risen once more, this time as a £1.5bn development of luxury homes and a hotel in a neighbourhood that is awash with regeneration. It features studios to five-bed apartments, townhouses and penthouses.
The facade of the historic building has been saved, along with other notable features such as a dome and grand staircase, while the rest has been rebuilt in the same style to become 139 unique homes – including 14 Six Senses serviced apartments – and a 109-room Six Senses Hotel, the first in the UK.
The homes range from £1.5m for entry-level apartments to £40m for the grandest. About 70 per cent of the homes have been sold, with residents already moved in, leaving about 30 homes still available at the address, which is now known as The Whiteley.
The building has been brought to life by development manager Valouran and joint venture investment partners MARK and CC Land. It has been designed by Foster + Partners and includes 19 commercial units, an Everyman cinema, Third Space gym and restaurants around a central courtyard which will be open to the public.
It has achieved £3,600 per sq ft, a 200 per cent premium over the surrounding Bayswater area, according to estate agent Savills.
After wealthy British families, perhaps enchanted by the nostalgia of the address, the target market is Americans used to Manhattan-style apartment followed by Middle East purchasers who make up about 10 per cent of the inquiries.
While Knightsbridge and Mayfair may be thought of as more likely destinations for the world's wealthy, those who actually look to live in London on a fairly permanent basis tend to head west.
Charles Leigh, sales director at The Whiteley, points out that Queensway is little more than a stone's throw from Hyde Park and one of the most expensive streets in the UK capital, Kensington Palace Gardens.
“Many of our buyers feel a sprawling home in an area like Holland Park no longer suits them best, but want to remain near their friends, and appreciate the luxury amenities available here,” he told The National, listing a 20-metre swimming pool, padel court, library and spa plus grocery stocking, wine sommelier expertise and storage as well as pet care and dog walking.
The shopping street of Queensway itself is an unloved road that has become home to low rent souvenir stores and cafes, but is undergoing a £3bn revival, demolishing a series of buildings, widening pavements and upgrading tube stations.
Duplex
Repurposing, rebuilding or simply replacing often landmark buildings used for decades as retail spaces and turning them into modern accommodation is a challenge being taken up in many cities as department stores have fallen out of favour with shoppers.
One of the major hurdles is light – you can be a long way from a window in a building intended to display thousands of items.
One solution is mezzanine bedrooms. While they may be rare in the UK, they are commonplace in cities such as New York.
A three-bedroom apartment at The Whiteley, priced at £13.5m, which The National visited, features a mezzanine with bedroom, living room and bathroom with its own entrance, perched above the rest of the living quarters which feature dramatically high ceilings.
For The Whiteley, restoring the building's facade was vital while it recreated the rest of the building.
Alex Michelin, founder and chief executive of Valouran said they had taken a “meticulous approach” to restoration and reinvention to balance the building’s storied past with modern luxury living.
“Preserving the wonderful 100-year-old facade was paramount, ensuring the building’s heritage remained a defining feature of The Whiteley. Internally, we reimagined spaces to meet the expectations of today’s ultra-high-net-worth buyers – creating 139 unique apartments, all of which are aesthetically connected by voluminous spaces, exquisite detailing, and natural light.
“The Whiteley offers valuable lessons in high-end urban regeneration by highlighting the importance of not just restoring a historic building but also transforming a wider neighbourhood.
Pleasure dome
Another apartment still available is a £24m four-bed situated inside the building's historic clock tower, with terrace inside its glass dome. Its interior has been designed by Italian brand Maxalto.
A bespoke clock face was added to the tower, creating a room with a six-metre ceiling, a striking floor-to-ceiling bookcase and leading on to a terrace with views across London.
Mr Michelin describes the apartment as a space that “exemplifies quiet luxury, architectural integrity and enduring Italian design”.
