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​Property Report April 1999

April 1999

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 The Finest Selection in Mayfair

Upper Brook Street

Upper Brook Street, Mayfair W.1    
A substantial Grade II listed Georgian house with adjoining chauffeur’s studio and double garage.
Six Reception Rooms, Five/Six Bedroom Suites, Two Staff Suites, Chauffeur’s Studio, Double Garage, Garden, Lift, Comfort Cooling, Swimming Pool with Gymnasium.

Joint Sole Agents
FPD Savills 0171 730 0822
Wetherell 0171 493 6935


£6,500,000

 

Park Street, Mayfair W.1
    

Fully Refurbished first floor apartment overlooking and with access to Mayfair’s Secret Gardens.
Entrance Hall, Reception Room, Kitchen, Master Bedroom with En Suite Bathroom, Two Further Bedrooms, Bathroom. Lift, Air Conditioning, New 99 year lease.

Joint Sole Agents
Keith Cardale Groves 0171 495 2494
Wetherell 0171 493 6935


£1,100,00

Park Street





   

Culross Street





Culross Street, Mayfair W.1
An outstanding fully refurbished contemporary house, decorated by an award winning interior designer, with a dramatic double height atrium.
Reception Hall, Atrium comprising Kitchen/Breakfast Room and Dining Area, Drawing Room, Sun Deck opening onto Roof Terrace, Two Guest Cloakrooms, Five Bedrooms with En Suite Bathrooms. Garage. New 99 year lease.

Sole Agents Wetherell 0171 493 6935
£2,950,000





 
Grosvenor Square, Mayfair W.1    
Apartment with parking in block with resident porter.
Entrance Hall, Drawing Room, Dining Room, Kitchen, Guest Cloakroom, Master Bedroom with En Suite Bathroom, Bedroom Two, Bathroom, Bedroom Three/Dressing Room. Resident Porter, Lift.

Joint Sole Agents
Beauchamp Estates 0171 499 7722
Wetherell 0171 493 6935


£650,000

Grosvenor Square



   Lees Place

Lees Place, Mayfair W.1    
A handsome low built corner house, interior designed in a traditional style, which has been completely renovated and refurbished.
Entrance Hall, Drawing Room, Dining Room, Study, Kitchen/Breakfast Room, Guest Cloakroom. Master Bedroom with En Suite Bathroom. Three Further Bedrooms, Two En Suite Bathrooms, Shower Room. Garage, Roof Terrace. New 99 year lease.

Sole Agents Wetherell 0171 493 6935
£1,950,000





April Update


First Quarter News

Wetherell’s latest research shows that there are 116 properties available (96 flats, 20 houses) with an aggregate asking price of £116.59m. Since the beginning of this year, 36 properties have sold in Mayfair, totalling £32.06m (based on asking prices), to be replaced by 31 properties new to the market with an aggregate asking price of £37.29m.

With market availability average for the time of year, the fact that many agents are citing the lack of property for sale goes to show that some of them have short memories – a busy few days and the market is booming, the phones aren’t ringing and the market is flat!

Three substantial houses (all in excess of 7,000 square feet) have sold in the first quarter, which confirms our opinion that at this level the market is supply led, not demand led – it is more dependent on the property being available than the time of year.

For properties in prime locations, in very good condition and with a long lease or freehold, £600/square foot is now the norm – in an unmodernised condition £400/square foot is the yardstick. Now that the glass ceiling of £500/square foot has been broken, it can only be a matter of time when the premium figure of £750/square foot is achieved.

Lower Interest Rates

With base rates now at 5.25%, the lowest in living memory, many people are taking the opportunity of some very good discounted and/or capped rate mortgages on offer.

With the rate of growth in Mayfair predicted at 10% this year, it makes sense to trade up, as it now possible to borrow more whilst maintaining the same level of mortgage repayments as a few years ago.

Part of the Project Team

Developers, when contemplating a new scheme, are increasingly bringing in Wetherell as part of the project team, liasing with architects and quantity surveyors.

As selling agents, we are in the best position to know what purchasers are seeking and have often introduced ideas that the client or architects had overlooked, thus creating a better product.

Realising the benefit of calling on our knowledge and expertise from the outset, we can offer advice on the optimum use of space, level of finishes, interior design and decoration.

For Cigar Aficionados

Coming to the market with Wetherell is an C18th Mayfair townhouse which has been refurbished to a superlative standard by the current owner. To be left with the house is a cigar humidor, modelled on the house, which the current owner commissioned from Lord Linley, the Queen Mother’s grandson. Interestingly, a brother of the Queen Mother occupied the house earlier this century.
 







NAEA

Wetherell


Mayfair’s Leading Estate Agent


Tel: 0171-493 6935     Fax: 0171-629 9303

We sell well

Ombudsman Scheme

No.34 102, Mount Street, Mayfair, London W1Y 5HF APRIL 1999


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