A UK investment group has confirmed its debut residential property deal after completing two multi-million pound Mayfair transactions, it was announced this week.

Investment banking and private equity group Evans Randall confirmed that it had bought a lot earmarked for a luxury residential development in partnership with Al Salam Bank Bahrain.

4 and 5 Queen Street, in Mayfair, London, were bought by the investment firm in order to house a £35 million proposed project, targeting a total area of 12,155 square foot in order to create six luxury two and three bedroom apartments.

The two late 18th century terraced properties, most recently used as commercial premises, were obtained from a privately-held company.

The apartments are due to be overhauled as part of a joint venture between Evans Randall, Amodoma Capital and property developer Paul Roshan, with the project set to be completed and sold in late summer 2014.

The investment firm also secured the purchase of a 34,000 square foot office development at 15 Sackville Street, Mayfair, after agreeing a deal worth close to £60 million with Japanese firm Mitsui & Co.

The property represents a prospective yield of 5.5 per cent, with the top floor of the seven story building already let to Gulfstream Aerospace and the remaining space set to be let to other firms.

The plot also includes three residential apartments with private entrances, and was obtained largely with the aid of senior debt provided by international property funders Aareal Bank.

Evans Randall currently owns a 50 per cent stake in London’s famous 30 St Mary Axe – also known as the Gherkin – and the Canary Wharf property which housed former industry regulator the FSA.

Until these acquisitions were announced, the firm exclusively involved itself in deals concerning commercial properties.

Recently, Evans Randall was estimated to have controlled up to £4 billion worth of commercial property throughout the country.