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May 2016

HOW QUIET IS QUIET?
This time last year we reported that turnover of sales transactions were 50% off Quarter 1 2014 due to the imminent General Election and threat of a Mansion Tax. Since the election the Conservative government have brought in a “raft” of property related changes to SDLT (stamp duty) and other tax charges with the result that Quarter 1 2016 sales turnover shows the same 50% off 2014 turnover as last year.

BUT – how quiet is quiet?
Volume might be down but value for “best in class” is strong with record prices still being achieved; in fact Q1 2016 has been our best Mayfair quarter in many years.

“SILENCE”
Wetherell were recently instructed on a Grosvenor Square 6th floor apartment of 3,202 sq.ft. plus 3 staff studios. South facing has an open outlook overlooking The Connaught hotel and “Silence” the water feature by Tadao Ando the Japanese architect.

Silence by Tado Ando

“Silence” is a water feature by The Connaught in Mayfair created by Japanese architect Tadao Ando

On a 999 year lease – the apartment was totally unmodernised having last been refurbished and interior designed over 40 years ago – the guide price was £7.5M ( which including the staff flats was around £2,000 per square foot).

Wetherell sent an initial email announcement to 3,000 “Mayfair Aficionados” and over 1,000 viewed on our website and a further 500 plus on their mobiles. Over 150 interested parties went on downloaded the brochure resulting in over 50 viewings and 7 offers.

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“THE LITTLE WHITE HOUSE”
Wetherell have also recently been instructed on a wide fronted house situated in Blackburne’s Mews; the currently “secure enclave” behind The American Embassy. Offered on a short lease at a guide price of £2.5M, this 2,773 sq.ft. house has its own integral garage and also access onto private communal gardens.

Wetherell sent the house to 400 key Mayfair buyers which created double that amount of website viewings plus another 400 mobile viewings. We are currently working our way through the viewing tours with purchasers excited by the future of the embassy proposal as a new 5 star hotel.

“W W W”
Wetherell’s worldwide Web.
In the 19th century, it was said that the world was ruled from the houses of Mayfair – today the people who rule the world either by country, wealth or company want to live in Mayfair.

Wetherell as the Mayfair specialists have local dominance with worldwide reach based on a philosophy that the mountain won’t come to you – you must go to the mountain.

Mayfair’s psychogeographical powers of history, architecture, culture, commerce and living makes the area one of the finest in the world – which is why the world comes to Mayfair.

MAYFAIR NEIGHBOURHOOD FORUM
Wetherell always maintain that those who buy or rent in Mayfair either live here already, know someone who lives here, has a business here in Mayfair or who frequently visits Mayfair for business, culture or gastronomic pleasure.

There is always a fine balance between those who live, work or visit Mayfair which is why Wetherell is actively involved with The Mayfair Neighbourhood Forum.

It is all about “Localism” with the whole community having a say on housing, land use, public realm, public space, sustainability, traffic, architecture, waste, noise, air quality and amenity.

2017 will see the Referendum to adopt the Mayfair Neighbourhood Plan – making Mayfair a treat for your eyes, where everything works, with everything you need and also ensuring it remains a safe and clean environment.

TO JOIN MNF
Either write to me – [email protected] as part of Marketing Committee of the Mayfair Neighbourhood Forum (with a remit for growing our membership) or go direct to www.mayfairforum.org/join

Mayfair is currently over half way through its most exciting decade in nearly a century – it is up to you all as the “gate keepers” of Mayfair’s future to either support or even better to have an active participation in the Forum.

HAPPY BIRTHDAY MA’AM
Mayfair’s most famous resident was brought up in two Mayfair houses that are now sadly demolished; replaced by a restaurant in a commercial building on Bruton Street and an hotel on Piccadilly. The Union Jack flags are flying in Mount Street in your honour.

NEW DEVELOPMENTS
Our Wetherell Developments Department continues to seek out international schemes with a vision and finish that excel on the world-wide stage.
This month we feature The Alef Residences a unique development giving sunrise or sunset lateral living comprising 4,800 – 15,000 sq.ft. of indoor / outdoor space.

Image 1 - external Miami-esc shot

The Alef Residences will be serviced by W Dubai on the Palm Jumeirah with all owners having their private 475m beach plus their unique selection of entertainment and leisure facilities.

Built from the first letter of the Arabic alphabet, The Alef, meaning “first and foremost” signifies a point of infinite possibility, born out of the developers desire to redefine luxury by creating a “physical space premium” and a quality of living beyond all else.

Design, space, location and a genuine lifestyle experience.

May 2016 sees the unveiling of the 4 bedroom show apartment totalling over 8,900 sq.ft. with The Palm and Ocean views.

Completion is set for Q2 2017. Prices range from £3.5M – £5M.

Every floor plan is unique and a password protected private login is available for you to experience an amazing digital virtual experience on your iPad. Contact: [email protected] or preview http://wetherell.co.uk/international-properties

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