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​Property Report April 2001

 

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Distinctive Homes      

Upper Grosvenor Street Upper Grosvenor Street
Upper Grosvenor Street

Upper Grosvenor Street, Mayfair W.1

Designer duplex with terrace.
Master bedroom with en suite dressing room and bathroom, guest bedroom suite, two reception rooms, study/bedroom three, kitchen, cloakroom. Air conditioning, lift.

Joint Sole Agents: Knight Frank/Wetherell
£2,450,000

   

Charles Street
Charles Street, Mayfair W.1

Freehold building with office use on three floors.
Suitable for reinstatement as a Grade II listed home, totalling 3,490 square feet (gross internal), featuring air conditioning and many period details.

Sole Agents: Wetherell
£2,250,000

Something For Everyone


Local Market

Wetherell’s latest business highlights the myriad styles of residential property which make Mayfair such a unique environment to live in.

Recent sales include a triplex over the top three floors of a period building in Hill Street where a price in excess of £880 / per square foot was achieved, a grade II listed C18th freehold building in Charles Street with office & residential use and a unique hidden house finished in the style of a Tudor lodge.

New Developments

Whether created from redundant office buildings, ex – service apartment blocks, planning gains as a result of larger commercial developments or just refurbishments of tired residential buildings, new developments in Mayfair are selling extremely well as buyers like the idea of purchasing a ‘turn key’ apartment either for their own occupation or investment.

Wetherell have sold the last remaining units in two developments they been marketing at 27 Bolton Street and 18 Berkeley Street, whilst the last few three bedroom apartments at One Carlos Place and 10 Berkeley Street, have seen price revisions to £1m and £1.2m (One Carlos Place) and £780,000 (10 Berkeley Street).

Behind St. James’s Square in Rose & Crown Yard is a newly constructed block of just 6 flats for which Wetherell have been appointed as joint agents. With 5 x one-bedroom flats and 1 x two bedroom duplex, prices start at £485,000 with each flat benefiting from a secure parking space.

Investment

The residential investment market in Mayfair is always short of supply, however Wetherell are marketing two income producing blocks in Mayfair. Behind Claridges Hotel, a purpose built block of 6 flats (5 x two bedrooms, 1 x one bedroom) with garaging for four cars is for sale at £2.75m and in Charles Street a freehold period building with mews house, arranged as 12 flats, is available at £5.95m. For development and refurbishment to a family house, Wetherell are offering a period building backing onto and with access to the ‘Secret Gardens’ of Mayfair, price on application.

Up & Coming

Currently advising on pied-a-terres to apartments in excess of 2,000 square feet, Wetherell have the breadth of experience to achieve record prices for their clients and whilst not perceiving rampant house price inflation for Mayfair this year, Wetherell do not believe there will be an impact in the local residential market as a result of the recent jitters (realignment?) in the world stock markets.

Negated by historically low interest rates, virtual full employment in the south east and the much vaunted City bonuses, Wetherell expect Mayfair to continue it’s pre-eminence as a blue chip location with demand upheld by an international client base.


NAEA


Mayfair’s Leading Estate Agent
Wetherell

Telephone

We sell well

 

Ombudsman Scheme


No.55 102, Mount Street, Mayfair, London W1K 2TH APRIL 2001

 

 

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