“Fashion fades, only style remains the same”
said the famous Mayfair resident Coco Chanel.
Likewise I have always maintained that the property remains the same and it is only the perception of value in the property that changes. Of course that perception has many influences including public realm improvements as well as supply, demand and market sentiment.
THE BEST & THE REST
The current phase of today’s Mayfair property market is “The Best and The Rest”.
The selection of property on the market has increased throughout the year and this last quarter before Christmas offers some truly amazing homes.
I list below my personal top 10 selection of properties that once sold will rarely be seen again.
Charles Street – An unmodernised, 1st floor “Eaton Square” one bedroom apartment with 15 foot ceilings on short lease @ £1.25m.
Upper Grosvenor Street – An amazing 2 bedroom lateral apartment of 2,153sq ft. with conservatory and terrace @ £6.25m.
Reeves Mews – A 1st floor 3 bedroom apartment with a 1,000sq ft. roof terrace @ £4.95m.
Green Street – An amazing 3 bedroom duplex with access to Mayfair’s “secret gardens” @ £7.5m.
Grosvenor Square – 17 windows overlooking the Square. Move in Now @ £11.5M
Curzon Street – A 3,500sq ft. penthouse with surrounding terraces and 360° views over London @ £15.5M
Bourdon Street – Three studio houses now one low level home of nearly 6,000sq ft. with swimming pool @ £18m.
Upper Brook Street – A grade II listed (circa 1737) town house with garden and mews with pool, garaging & cinema totalling 10,500sqft. @ £35m.
Albemarle Street – A 1st floor lateral apartment in a new development designed by leading architect Eric Parry, featuring 3.5m ceiling heights @ £15.95M
Off market – A 1st floor “Manhattan” apartment with 3.7m ceiling heights, swimming pool and car parking @ £POA.
THE MAYFAIR COMMUNITY
Mayfair has 350 years of community in 285 acres, accommodating 4,363 addresses.
It might surprise you that 73% of its 5,200 permanent residents have no other residential address apart from Mayfair.
On the Grosvenor’s 100 acre estate there are about 2,000 households with approximately 3,500 residents, of which 23% live in social rented accommodation.
Compare this to the census of 1790 when a population of 1,526 residents had 129 persons of title, 35 M.P.s and 112 professionals.
This aristocratic and professional class of 20% of the population were catered to by trade that amounted to nearly 60% of the remaining tenants on the estate.
Fast forward to a recent survey by “Experian” for the W1K postal code area (encompassing the estate) shows that those of “affluent wealth” now amount to nearly 70% of the population.
No wonder that the retail, cultural and hospitality industries of Mayfair are booming.
MOUNT STREET CHRISTMAS LIGHTS
This year we are investing in a completely new display for the Christmas street lighting and I sincerely hope that you all like it.