THOUGHT LEADERSHIP? – WRITE A BOOK
“History will bear me out. Particularly as I shall write that history myself.” So said Sir Winston Churchill and perhaps I can be accused of similar grandeur after the publication of our book “The Story of Mayfair” detailing 350 years of history and our views on the next 10 years as the most exciting decade for nearly a century in Mayfair’s history.
BRINGING RESIDENTIAL LIFE BACK TO MAYFAIR
Bringing Residential Life back to Mayfair has been my motivation for the last 25 years and my quest to return Mayfair to the winning podium as London’s No.1 area is now firmly in gear. Over the next 10 years new Mayfair residential developments will increase the residential population by 25%.
SUMMER IN THE SQUARE
As part of the local community, Wetherell are once again proud to sponsor Grosvenor’s “Summer in the Square” which starts tomorrow Thursday 3rd July and runs for 18 days of free music, theatre and fun for the entire family to enjoy – in the heart of glorious Mayfair.
NOW 45 PRIVATE MEMBERS CLUBS
If residents require facilities where better than Mayfair: Within the “London Luxury Quarter” (LLQ) there is 2.8 million sq.ft. of retail floor space and in its 57 streets and arcades there are over 1,000 retail units (with 2/3rds of the world’s top luxury brands) attracting over £3Bn of retail and leisure spend per annum.
A recent survey on the hospitality sector of LLQ revealed that there are now 45 private members clubs now competing with the 37 fine dining restaurants with 23 restaurants sharing 31 Michelin Stars between them.
82% OF MAYFAIR MARKET UP TO £5M
Whilst commentators have marvelled over high-value sales in Mayfair (sales over £10 million in the last five years have totalled £422.3 million) the sub £5 million market has been largely overlooked.
It might surprise you to know that 82% of property sales by number of units sold in Mayfair over the last 12 months were under £5M and that the average selling price of a property (lease length adjusted) was £2.97M. There is however a shortage of stock for sale with 22% fewer apartments sold in the last 12 months compared with the same period in 2009/2010.
Over the last 5 years the top three agents have accounted for 70% of the total market with Wetherell commanding a third of that market share.
EMINENT FELLOW AWARD
Prime Central London property has been one of the economic drivers for UK plc and Mayfair is now a global brand for excellence and prestige – a beacon for the highest of standards. It is therefore apt to inform you in the same paragraph that last month I was awarded an Eminent Fellowship of The Royal Institution of Chartered Surveyors as a reflection of outstanding individual achievement and expertise within the surveying profession. RICS upholds the highest standards in our profession and I am proud to be part of it.
STOP PRESS: PROPERTY UPDATE
At the time of writing this report the weather in Mayfair is sun-shining and 25 degrees. We are lucky enough to have an amazing collection of homes with either outside space or views over gardens.
MANSION HOUSE APARTMENT BUILDING
Wetherell have just launched an extremely rare opportunity to acquire a freehold apartment building of 13,091 sq.ft. in Mayfair Village on the corner of Balfour Place. Currently 6 apartments.
Link to Wetherell website
Thank you for reading or scrolling to the bottom of this email. If the weather is not as good where you are reading this email then let me finish with another Churchill quote:
“Rain, after all, is only rain; it is not bad weather”