WE WON

This week a High Court judge allowed for the Judicial Review to proceed against Westminster City Council’s proposed evening car parking charges and restrictions on parking on yellow lines in the evenings.

The council have not however given up on their proposals and say they have only postponed the January 9th start date until after the Olympics next year.

The fight therefore still goes on but it gives all the stakeholders in the community the extra time and opportunity to join together in a common voice to convince the council that their proposals are wrong!

Link to Evening Standard article:
http://www.wetherell.co.uk/wetherell-blog/dont-relax-vigil-says-estate-agent-who-led-fight-against-tax-on-nightlife/

Link to BBC News:
http://www.wetherell.co.uk/wetherell-blog/westminster-councils-parking-consultation-contempt/

My experience in this episode is neatly summed up by Woody Allen who said:

“The lion and the calf shall lie down together but the calf won’t get much sleep”.

WETHERELL HIGHLIGHTS OF MAYFAIR MARKET 2011

Here is a round up of the last twelve exciting months in Mayfair:

Step Change
This time last year Wetherell predicted a “step change” in residential values. Thankfully with the benefit of hindsight we can confidently say that our prediction was correct.

Entry level prime property rose by 20% to £3,000 p.s.f.  A 2 bedroom flat of 1,734 sq.ft. above C in Davies Street (formally Cipriani) sold for £5.25M.

Top Three
In the “mansion house” market Wetherell sold the top three most expensive houses ranging in price between £15-25M.

Cheapest
Our cheapest or most reasonable deal was a 1 bedroom basement flat below our offices in Mount Street that sold for £750,000 and bought as overflow staff quarters for one of the “big houses”.

Rock Stars & Comediennes
Best fun deals were selling a two bedroom 3rd floor walk up (no lift) to an ageing Rock Star and selling a Georgian town house for one of England’s favourite comedienne’s.

Most Memorable
The most memorable deal was selling a 4 bedroom flat (1,863 sq.ft) on a 962 lease for just over £3m. This was one of my first instructions nearly 30 years ago when I was selling it for £325,000.

Only Development
The only new development in Mayfair of a building was in Shepherd Market were we sold three 2 bedroom flats above a Lebanese restaurant for £1.75M each.

Best New to Market
A “lifestyle” duplex 5 bedroom Penthouse with amazing roof terrace, with Bar-B-Q and hot tub, overlooking Park Lane at £19.5M and a £7.75M lateral apartment with an amazing 65 foot entrance hallway.

YEAR AHEAD
After Christmas and the New Year we look forward to a 2012 which will be Mayfair’s Year in the prime residential property market for London.

Link to Wetherell TV for market predictions:
http://youtu.be/e1CCeEjAq9E

THANKS & GREETINGS
I would like to thank our clients’ for their patronage, our friends for being our Mayfair Ambassadors and our customers for their choosing Mayfair as their home.

I wish you all a very Merry Christmas and I hope a prosperous New Year.

Download – December 2011 Market Report