20 Jul

WETHERELL MAYFAIR MARKET REPORT JULY 2012

WETHERELL MAYFAIR MARKET REPORT JULY 2012

MAYFAIR PLAYS HOST TO THE 3rd LONDON OLYMPICS

1st
In 1908 the first London Olympics were held at a time when Mayfair was the No.1 residential  area of London and the British were at their peak of financial fitness.  
2nd
The 2nd time was the austere Olympics of 1948 when the old Aristocrats of Mayfair mixed with the Plutocrats had seen their wealth shot to pieces – firstly by WW1 and the beginning of the commercialisation of Mayfair (the 1920s & 1930s saw the mass demolition of some of the redundant grand mansions of the area) and secondly with the occupation of most of the remaining vacant houses by commerce after WW2.
3rd
A very different Mayfair now plays host for the 3rd London Olympics. Mayfair is holding its trophies on high as the area with the finest retail and hotels, culture and hospitality. At a time when more and more commercial buildings are reverting back to residential use Wetherell predict that within the next decade Mayfair will once again be London’s No.1 residential district. With 205 countries participating with over 10,000 contestants, London will be showcased around the world and Mayfair can only benefit from the reflected glory. The Sage of Omaha, Warren Buffett is quoted as saying; “In the business world, the rear-view mirror is always clearer than the windshield”.  
 
Well looking back on Mayfair’s last century it is very clear to me the way forward for Mayfair and whilst I cannot predict the number of British Gold medals I can predict a winning future for Mayfair.
 
WETHERELL SUPPORT “SUMMER IN THE SQUARE”
Escape the crowds at a playful urban retreat in the heart of Mayfair – Grosvenor Square.  
To celebrate the Olympics, Grosvenor supported by Royal Parks, Wetherell and Knight Frank will host a variety of super-sized board games, refreshments and cultural and community events including music, theatre and weekend activities for children.
Please click this link for the Timetable of Events from 26th July to 12th August.

NEW MAYFAIR INSTRUCTIONS FOR SALE

Wetherell have recently taken instructions on over £70M new property for sale.
  
·         Grosvenor Square - Short Lease – 2 bedrooms @ £1.2M
·         Charles Street - Walk Up Duplex – 3 bedrooms @ £2.25M
·         Carpenter Street – Modern Maisonette – 3 bedrooms @ £3.95M
·         Farm Street -  Penthouse with roof garden – 3 bedrooms @ £4.25M
·         Grosvenor Square - 1st time in 30 years – 3 bedrooms @ 6M
·         Upper Brook Street - Upon Instructions of Grosvenor – Unmodernised House @ £6.25M
·         Farm Street  - Wide fronted House with parking and terrace @ £10M
·         Grosvenor Square - Large Lateral with  views @ £17M
·         Mount Street  - Corner Mansion – Unmodernised @ £18M
 
NEW MAYFAIR RENTAL INSTRUCTIONS
After a busy rental market in June the rush for Olympic accommodation never really took off and has had the opposite effect of tenants delaying until after the Games are over.
·         Pollen Street – Contemporary – 1 bedroom @ £575 p.w.
·         Berkeley House -  Pied a Terre – 1 bedroom @ £780 p.w.
·         Charles Street - Opposite Mark’s Club – 2 bedrooms @ £800 p.w.
·         South Street - Penthouse with terrace  – 2 bedrooms @ £1,450 p.w.
·         Down Street - Large Lateral– 5 bedrooms @ £4,700 p.w.
 
Enjoy the Olympics.
Kind regards

Peter Wetherell
0207 493 6935