M31 is the nearest large galaxy for which we have a dust-free multi-wavelength picture of its central regions. It presents some puzzles. The inner few parsecs are dominated by a double nucleus, which is most naturally explained by Tremaine's (1995) model of an eccentric disc of old stars around a supermassive black hole. A more recent surprise is the discovery of a very compact cluster of young stars around the black hole. I review ongoing work on the construction of a coherent picture of this system and compare it to the clusters found at the centres of other nearby galaxies.