Christmas is coming and the sales market is still busy. The last quarter of the year for Mayfair property is always an interesting 3 months with an average of 23.4% of yearly sales over the last 10 years.
So far this year’s Q4 is showing half that number but the under offer pipeline will bring the sales up to average –however the interesting aspects are that apart from one £20m ‘ish penthouse sale the other 13 apartments are all under £5 million and there is only one Mayfair townhouse under offer.
The total number of sales are up on last year but is still under two thirds of the glory days of 2006 and 2007. With the prime central market still digesting the stamp duty hikes of Spring 2012 and the yearly levies on “enveloped properties” there is little appetite or strength left in the market for the threats of mansion tax and also capital gains tax for overseas purchasers.
Bond Street / Mount Street
Mayfair continues to excel in retail, leisure and cultural offerings and the demand for shops in Bond Street and Mount Street continue as international retail brands compete for retail space.
Richard Mille who sell watches for 6 and 7 figure sums will open in 2014 next door to George and the CEO has described Mount Street as “one of the most sought after retail locations in the world”.
As Chairman of The Mount Street Association I invite you to join us tomorrow evening when all the retail shops will be open to celebrate the switching on of our Christmas Lights at 6:30 by Ronni Ancona the award winning comedy actress and famous impressionist for her portrayals of Nigella Lawson, Victoria Beckham, Nancy Dell’Olio, Carol Smillie, Charlie Dimmock, Audrey Hepburn, Marilyn Monroe and HM The Queen. As an author her first book “A Matter of Life and Death: How to Wean a Man off Football” is published by Faber & Faber.
400 more homes in Mayfair
Mayfair as a residential area goes from strength to strength with a potential development pipeline of over 400 new residential addresses (some sunject to planning) over the next 10 years making it the most exciting decade in Mayfair for nearly a century.
See our Wetherell TV on Mayfair Village
Move in before Christmas?
Claridge House – An immaculate art deco 2 bedroom apartment once owned by Lady Docker, “the wealthiest woman in Mayfair” in the 1950’s @ £4.4M
Davies Street, W1K, £4,400,000
A luxurious lateral 2 bedroom mansion flat between Berkeley Square and Claridges Hotel.
Three magnificent houses all with swimming pools @ £17.5M/20M/25m
Upper Brook Street, W1K, £17,500,000
Approached via a private 64′ garden, a low built hidden house 100 yards from Grosvenor Square
Culross Street, W1K, £20,000,000
Located in a private road behind the American Embassy is this five bedroom freehold family home of over 6,000 sq. ft.
Waverton Street, W1J, £25,000,000
A superb newly constructed home with cutting edge architecture & design
Sackville Street – Live in the midst of the best retail area in the world. Two 2 bedroom Penthouses @ £1,095 p.w. & £1,375 p.w.
Sackville Street, W1S, £1,095 per week
A newly renovated two double bedroom Penthouse apartment in a stunning modern building with lift and air conditioning throughout.
Sackville Street, W1S, £1,375 per week
A newly renovated two bedroom Penthouse apartment in a stunning modern building with lift and air conditioning throughout.
I look forward to seeing you tomorrow evening.