£27,500-a-week Mayfair rent is nearly average annual salary

£27,500-a-week Mayfair rent is nearly average annual salary: Knight Frank

A wealthy tenant is paying almost the equivalent of the average salary in Britain every week to rent a 12-bedroom home in Mayfair.

The new occupants of the Grade II property in Upper Grosvenor Street — complete with sauna, jacuzzi, gym and swimming pool — have agreed a deal at £27,500 a week.

The average UK worker earned £28,296 last year.

The main house has seven bedrooms and seven bathrooms while staff accommodation to the rear has a further five bedrooms.

The new occupants of this home, which is complete with sauna, jacuzzi, gym and swimming pool, have agreed a £27,500-a-week deal (Knight Frank)

Agents Knight Frank declined to reveal details of the tenant, but Tom Smith, head of the firm’s super prime lettings team, said: “It is extremely rare to find this much square footage in this condition available to rent in prime central Mayfair; so much so that we had competing offers.”

The rent works out at almost £120,000 a month or £1.4 million a year. It is one of an increasing number of trophy London homes being offered for rents running to tens of thousands of pounds a week.

Trevor Abrahmsohn, managing director of agent Glentree International, said desirable locations include The Bishops Avenue in north London, Mayfair and Chelsea.