July 27, 2026
Korol have successfully secured planning permission for the redevelopment of 41 Albemarle Street in the heart of Mayfair. The iconic corner building that was the head office for Thai Airways since 1986 has been granted planning permission for the redevelopment to a flagship luxury retail unit with prime offices above.
The Grade II listed building has been vacant since Thai Airways closed their offices during the Covid-19 pandemic in 2020. Korol purchased the building in 2025 and have worked with Barr Gazetas architects to design a scheme that replaces the façade and restores the striking minimalist original design of the building. Originally designed by Peter Morro in 1963, the building provided clean modern lines using a mixture of concrete, steel and glass.
Works are scheduled to start in August with completion in September 2027. Once redeveloped the six-storey building will provide a flagship luxury retail unit, in addition to prime offices on the upper floors that will include a communal roof terrace on the 3rd floor.
Alex Jordan founding director of Korol, commented. ‘We see 41 Albemarle St in a similar way to a 1960’s classic car, where the aesthetics are design are special, but the brakes and engine are not fit for modern use or reliability. We are looking to redevelop the building to ensure it is fit for the best luxury retail and office occupiers in terms of functionality and quality of finish, as expected in Mayfair, while celebrating and protecting the iconic 1960’s design.’’
The professional team that advised Korol are, Barr Gazetas architecture, Montagu Evans for planning and heritage, and EOC as structural and façade engineers. Hanover Green and Crossland Otter Hunt are advising on office lettings and Levy and CBRE for retail lettings.
